Some updates on our government's genius bailout.
Gakked completely and unashamedly from patgray.com:
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.”
And as the news article pointed out:
WASHINGTON (AP) - It’s something any bank would demand to know before handing out a loan: Where’s the money going?
But this is government bureaucracy ruling the day; not private industry.
Communism and socialism suck.
Article.
(And on a side note, I bank with JPMorgand Chase. I may not for much longer after that delicious tripe.)
And in possibly the most genius business move ever made in history, Ford turns down any handout from the government, making it the only one out of the Big Three which isn't taking your money.
I think that's all they needed to do to cover their lost ground in profits, don't you?
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.”
And as the news article pointed out:
WASHINGTON (AP) - It’s something any bank would demand to know before handing out a loan: Where’s the money going?
But this is government bureaucracy ruling the day; not private industry.
Communism and socialism suck.
Article.
(And on a side note, I bank with JPMorgand Chase. I may not for much longer after that delicious tripe.)
And in possibly the most genius business move ever made in history, Ford turns down any handout from the government, making it the only one out of the Big Three which isn't taking your money.
I think that's all they needed to do to cover their lost ground in profits, don't you?