Where'd the bailout money go? Shhhh, it's a secret

AP, via Yahoo! News ^ | 12-22-2008 | MATT APUZZO

[Virginia Ridgerunner]

It's something any bank would demand to know before handing out a loan: Where's the money going?

But after receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it.

"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."

[Virginia Ridgerunner]

Everyone of the SOBs who voted for this handout need to be frog-marched out, tarred-and-feathered, tried, and then imprisoned for a very long time, alongside these friggin' bankers who stole the money and are now trying to hide it.

[RightOnline]

The arrogance of this ‘spokesman’ is nothing short of breathtaking.

[Virginia Ridgerunner]

If you read the entire article, it’s not only Morgan’s spokesman, but all of them. It’s nothing but a crooked shell game to these guys.

[Allegra]

"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."

Hey, that's our hard-earned money you're talking about, Kelly and we had to cough it up against our will because your company did not manage its finances properly. You might want to get off your high horse.

[ClearCase_guy]

I generally believe that less regulation is a good thing. But if the taxpayers are going to bail out a lot of failed businesses, then we deserve some oversight to see where the money goes.

Bonuses for Wall St hotshots are pretty standard. But if the business tanks, and if taxpayers ride to the rescue, I'd certainly like to know if my money went to pay some guy's $50M bonus.

Successful companies get taxed.
Failed companies get bail outs.

This is no way to run a national economy.

[Opinionated Blowhard]

Just like Katrina, where Bush wrote a mindbogglingly huge check and then didn't monitor how it was spent. When the government throws a huge amount of money on the table, its going to be wasted, period. I'll be glad when Bush and the torture of Compassionate Conservatism (aka Rockefeller Republicanism reborn) is gone.

[guitarplayer1953]

Every one of us need to contact their representatives and demand that these bankers disclose where the money is going if they don’t have the nads to ask then we don’t have the nads to vote for them.

[DownInFlames]

You mean like Social Security, Medicare, Medicaid, Public Education, roads, bridges, infrastructure, pork in general.

[Diogenesis]

Too much of the money, directly and indirectly,
by way of kickbacks, contributions, donations,
payoffs, unaccountable line items, brown bags,
to one group of individuals who set it all up:

[NTHockey]

Sent to thomas.a.kelly@chase.com

“Tom, you arrogant SOB! You took my money in the form of a bailout and now you refuse to tell where the money went.

How dare you! Tell your creditors, the people who gave you the money, or give the money back!”

[Las Vegas Ron]

Successful companies get taxed. Failed companies get bail outs.

Possible tag line material?

[Just mythoughts]

I think we are finding out about what campaign finance reform was alllllll about.... The liberals have been attempting to get government funded elections for years. Boy did our so called side hand them not only the silver platter but the silver as well. The *Pay* to *PLAY* are first in line for collecting next election cycle funding.

[chainsaw]

More importantly, where is the 2 trillion $ that the feds will not account for, and were not authorized by congress to spend.

[gore_sux]

I know where its going:

New York limo rides
Meals in expensive New York restaurants
New York loft penthouse loft mortgage payments
Martha’s Vineyard summer house payments
Country club membership fees
Ski vacations to Europe
Super Bowl tickets
Yankee’s tickets
$10,000 Madison Avenue suits
Very expensive hookers
High grade cocaine

[jedi150]

Looking more like the BIGGEST swindle in the history of the world, Sheeze a BANK/S claim they are not keeping tract of money!!!!!!!!!!!!!!!!!!!!! If it smells rotten then it is rotten.

[Le Chien Rouge]

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826)

[Ghost of Philip Marlowe]

The arrogance is knowing that you have the Federal Reserve (a cartel of the most powerful banks in the world) at your back, and a lapdog congress who serve the Federal Reserve.

A Freeper was actually defending the Federal Reserve here a few days ago saying, “They're smarter than you are.”

Intelligence has nothing to do with it. They're covering the losses that banks incur by using tax money. If someone is OK with that, fine. I'm not. I consider it legal theft.

[HD1200]

Oh come on people! For Goodness sakes, they didn’t get a stack of currency whose serial numbers had been recorded and asked to give a report back on who got the currency!

I guess nobody understands accounting and cash flows!

If you put a cup of water in a pail of water can you then trace where that cup of water went when you dump the pail out? Sheese.

Some people here need to try an Accounting 101 class.

[wolfcreek]

Caption: "Everyone be verwy quite and I'll show you what a Gay fart sounds like"

[Libloather]

I know where its going:

Will any of the loot show up in politicians' bank accounts? Shhhh...