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Big Banks Get $135 Billion Cash Going Away Gift From Paulson and the Bush Administration
 
Published by kidmercuryblog
10-13-2008

Big Banks Get $135 Billion Cash Going Away Gift From Paulson and the Bush Administration

Citigroup and JPMorgan Chase were told they would each get $25 billion; Bank of America and Wells Fargo, $20 billion each (plus an additional $5 billion for their recent acquisitions); Goldman Sachs and Morgan Stanley, $10 billion each, with Bank of New York Mellon and State Street each receiving $2 to 3 billion. Wells Fargo will get $5 billion for its acquisition of Wachovia, and Bank of America the same for amount for its purchase of Merrill Lynch. So much for bailing out the mortgage market.

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  #1  
By Unregistered on 10-14-2008, 09:17 AM
buying stock is better than just giving them the money

the bailout in any fashion is wrong, companies, no matter how big should suffer for their mistakes, but atleast with this measure the government will own real assets instead of the junk mortgages.

A common sense view of Politics, News and Events.
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