America Awaits Answers From Big Banks
 Tuesday, February 3rd, 2009 by Connie T.
Nearly half of the $700 billion bank bailout money has been allotted and spent: the
strange thing is, so far, only the banks know how. The bailout plan meant to
assist the problem of housing foreclosures has yet to slow the economic freefall, but next week
we may get some answers.
On February 11th, executives from Bank of America, Wells
Fargo, Citigroup, JPMorgan, Goldman Sachs and others will be questioned by the U.S. House Financial
Services Committee as to how they've spent (yes, spent) the federal bailout money that was given to
them from the Treasury Department.
Now that $350 billion of the taxpayers' dollars in the plan
is already gone, the Treasury plans to create stricter guidelines for the other $350 bill.
Meanwhile, MSNBC reports that Wells Fargo - who received
$25 billion of the bailout money - is planning a series of lavish corporate junkets for employees at the Wynn
Las Vegas Casino in Las Vegas.
While we await testimonies, let both the Treasury and the big bank CEO's know that you haven't forgotten where
your taxes have been going: over 5,000 Care2 members have already signed this petition
demanding answers on how the "capital injection program" is being spent.
|
RSS Feed
