What Are The Banks Doing With Your Bailout Tax Dollars?  They Won't Tell

From Fox News


Your Tax Dollars At Work!   ↔

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

"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."

Some banks said they simply didn't know where the money was going.  The answers highlight the secrecy surrounding the Troubled Assets Relief Program, which earmarked $700 billion — about the size of the Netherlands' economy — to help rescue the financial industry.

There has been no accounting of how banks spend that money. Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money — not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that's happening and there are no consequences for banks who don't comply.

Garrett, the New Jersey congressman, said the nation might never get a clear answer on where hundreds of billions of dollars went.

"A year or two ago, when we talked about spending $100 million for a bridge to nowhere, that was considered a scandal," he said.

Meanwhile, Toyota reports its first operating loss in 46 years, due to the credit crunch.

It's like the last hurrah for the friends of the Bush Administration-free money by the trillions.

Anyone remember the history of Andrew Jackson and WHAT HE DID to the banks??
Look it up..
Soon after he did all this, the Banks had it ALL REVERSED after he left office, and along the way to NOW, they have added MORE..

It seems to me, that just because the banks got our money, doesn't mean that they're going to go full disclosure. It's just not the way they do business.
If I was interpreting Jim Cramer correctly last night, they probably aren't lending money because they still don't have enough. Sounds bizarre, I know. The money that the received is probably something more like a comfort blanket, so they know that they aren't going to go belly-up. Rather than an injection to bring them back up to full capacity.

Anyway, I probably completely wrong.