Job 1 For Obama Administration: Prosecute the XX@@## Banks Who Took Bailout
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Banks won't tell where the money went . . .
Ludicrous! Ridiculous! Incredulous!
"In elevating to a level of demiworship people with big bucks, we have been destroying the values of our future generation. We need a total rethinking of who the heroes are, who the role models are, who we should be honoring." --RABBI BENJAMIN BLECH, professor of philosophy of law at Yeshiva University, on the downfall of disgraced financier Bernard Madoff.
Government (if you can say we have one) has gone so far over the top that the theft of the treasury we have just seen makes the Teapot Dome look like kids play.
I'm so hoppin' mad I can top Lou Dobbs daily outrage ten times over. I can hear him now: "Just what is our government thinking of?"
Whaddaya mean the banks won't tell where the money went????
This is Ludicrous, Ridiculous, Incredulous!!!
Bank presidents who took the money from the bailout and won't say where or how they spent it need to be fitted for striped suits.
And you can put the Southern senators who opposed the auto loans right along side them in the slammer. They are all guilty of conflict of interest and should not even have been allowed to vote on the issue.
If President Obama when he takes office doesn't appoint a special prosecutor then Congress should step in with a committee investigation.
One definition of treason is: "the betrayal of a trust."
Actions of both the bank presidents and the senators aptly fit that description.
Obviously, if we can't trust banks with federal money, who can we trust? That is the definition of our problem. Everyone is stealing from everyone else, especially if they can. It is a totally corrupt culture.
Conservatives who have been howling about accountability for years should be in the front lines on this one. But somehow there seems to be a double standard between banks and people who actually work for a living, like auto workers.
If there ever was confirmation that the age-old struggle between the democratic and aristocratic philosophies is still front and center this should settle the issue.
After all this is a society that puts a man in prison for theft of a pack of gum, then busts him back for years more behind bars for probation violation. Who is the loser in that scenario: the poor perp or us, society that pays $30,000 a year to keep him in jail?
Here's a list of some of the recipients so far - of this government's generosity; contrast these against the paltry amount of the "gift" to the Big Three & the millions of us that depend upon those jobs remaining here in the US.
Wells Fargo & Company San Francisco CA $25,000,000,000
JPMorgan Chase & Co. New York NY $25,000,000,000
Citigroup Inc. New York NY $25,000,000,000
Bank of America Corporation Charlotte NC $15,000,000,000
The Goldman Sachs Group, Inc. New York NY $10,000,000,000
Morgan Stanley New York NY $10,000,000,000
Merrill Lynch & Co., Inc. New York NY $10,000,000,000
U.S. Bancorp Minneapolis MN $6,599,000,000
Capital One Financial Corporation McLean VA $3,555,199,000
SunTrust Banks, Inc. Atlanta GA $3,500,000,000
Regions Financial Corp. Birmingham AL $3,500,000,000
BB&T Corp. Winston-Salem NC $3,133,640,000
Bank of New York Mellon Corporation New York NY $3,000,000,000
KeyCorp Cleveland OH $2,500,000,000
Comerica Inc. Dallas TX $2,250,000,000
State Street Corporation Boston MA $2,000,000,000
Marshall & Ilsley Corporation Milwaukee WI $1,715,000,000
Northern Trust Corporation Chicago IL $1,576,000,000
Zions Bancorporation Salt Lake City UT $1,400,000,000
Huntington Bancshares Columbus OH $1,398,071,000
Popular, Inc. San Juan PR $935,000,000
First Horizon National Corporation Memphis TN $866,540,000
Associated Banc-Corp Green Bay WI $525,000,000
Webster Financial Corporation Waterbury CT $400,000,000
City National Corporation Beverly Hills CA $400,000,000
TCF Financial Corporation Wayzata MN $361,172,000
South Financial Group, Inc. Greenville SC $347,000,000
Wilmington Trust Corporation Wilmington DE $330,000,000
East West Bancorp Pasadena CA $306,546,000
Sterling Financial Corporation Spokane WA $303,000,00
0 Valley National Bancorp Wayne NJ $300,000,000
Susquehanna Bancshares, Inc Lititz PA $300,000,000
Citizens Republic Bancorp, Inc. Flint MI $300,000,000
UCBH Holdings, Inc. San Francisco CA $298,737,000
Cathay General Bancorp Los Angeles CA $258,000,000
SVB Financial Group Santa Clara CA $235,000,000
Trustmark Corporation Jackson MS $215,000,000
Umpqua Holdings Corp. Portland OR $214,181,000
Washington Federal Inc. Seattle WA $200,000,000
MB Financial Inc. Chicago IL $196,000,000
First Midwest Bancorp, Inc. Itasca IL $193,000,000
First Niagara Financial Group Lockport NY $184,011,000
Pacific Capital Bancorp Santa Barbara CA $180,634,000
United Community Banks, Inc. Blairsville GA $180,000,000
Boston Private Financial Holdings, Inc. Boston MA $154,000,000
Provident Bancshares Corp. Baltimore MD $151,500,000
National Penn Bancshares, Inc. Boyertown PA $150,000,000
Western Alliance Bancorporation Las Vegas NV $140,000,000
CVB Financial Corp Ontario CA $130,000,000
Sterling Bancshares, Inc. Houston TX $125,198,000
Banner Corporation Walla Walla WA $124,000,000
Signature Bank New York NY $120,000,000
Taylor Capital Group Rosemont IL $104,823,000
Old National Bancorp Evansville IN $100,000,000
Pinnacle Financial Partners, Inc. Nashville TN $95,000,000
Iberiabank Corporation Lafayette LA $90,000,000
Midwest Banc Holdings, Inc. Melrose Park IL $84,784,000
Sandy Spring Bancorp, Inc. Olney MD $83,094,000
Columbia Banking System, Inc. Tacoma WA $76,898,000
TowneBank Portsmouth VA $76,458,000
Wesbanco Bank Inc. Wheeling WV $75,000,000
Bank of the Ozarks, Inc. Little Rock AR $75,000,000
Independent Bank Corporation Ionia MI $72,000,000
Virginia Commerce Bancorp Arlington VA $71,000,000
Southwest Bancorp, Inc. Stillwater OK $70,000,000
Superior Bancorp Inc. Birmingham AL $69,000,000
Nara Bancorp, Inc. Los Angeles CA $67,000,000
First Financial Holdings Inc. Charleston SC $65,000,000
Wilshire Bancorp, Inc. Los Angeles CA $62,158,000
Great Southern Bancorp Springfield MO $58,000,000
Center Financial Corporation Los Angeles CA $55,000,000
NewBridge Bancorp Greensboro NC $52,372,000
Ameris Bancorp Moultrie GA $52,000,000
The Bancorp, Inc. Wilmington DE $45,220,000 Southern Community Financial Corp. Winston-Salem NC $42,750,000
First Community Bankshares Inc. Bluefield VA $41,500,000
Capital Bank Corporation Raliegh NC $41,279,000
Heritage Commerce Corp. San Jose CA $40,000,000
Cascade Financial Corporation Everett WA $38,970,000
Eagle Bancorp, Inc. Bethesda MD $38,235,000
TIB Financial Corp Naples FL $37,000,000
First Defiance Financial Corp. Defiance OH $37,000,000
State Bancorp, Inc. Jericho NY $36,842,000
Porter Bancorp Inc. Louisville KY $35,000,000
Encore Bancshares Inc. Houston TX $34,000,000
Bank of North Carolina Thomasville NC $31,260,000
Bank of Marin Bancorp Novato CA $28,000,000
Centerstate Banks of Florida Inc. Davenport FL $27,875,000
LNB Bancorp Inc. Lorain OH $25,223,000
HF Financial Corp. Sioux Falls SD $25,000,000
Heritage Financial Corporation Olympia WA $24,000,000
Severn Bancorp, Inc. Annapolis MD $23,393,000
Blue Valley Ban Corp Overland Park KS $21,750,000
Indiana Community Bancorp Columbus IN $21,500,000
Unity Bancorp, Inc. Clinton NJ $20,649,000
Citizens South Banking Corporation Gastonia NC $20,500,000
First PacTrust Bancorp, Inc. Chula Vista CA $19,300,000
HopFed Bancorp Hopkinsville KY $18,400,000
Bank of Commerce Holdings Redding CA $17,000,000
1st FS Corporation Hendersonville NC $16,369,000
Valley Financial Corporation Roanoke VA $16,019,000
LSB Corporation North Andover MA $15,000,000
Oak Valley Bancorp Oakdale CA $13,500,000
First Community Corporation Lexington SC $11,350,000
First Litchfield Financial Corporation Litchfield CT $10,000,000
Central Bancorp, Inc. Somerville MA $10,000,000
Coastal Banking Company, Inc. Fernandina Beach FL $9,950,000 Southern Missouri Bancorp, Inc. Poplar Bluff MO $9,550,000
Broadway Financial Corporation Los Angeles CA $9,000,000
Central Federal Corporation Fairlawn OH $7,225,000
Old Line Bancshares, Inc. Bowie MD $7,000,000
Fidelity Bancorp, Inc. Pittsburgh PA $7,000,000
Pacific International Bancorp Seattle WA $6,500,000
FPB Bancorp, Inc. Port St. Lucie FL $5,800,000
Northeast Bancorp Lewiston ME $4,227,000
Manhattan Bancorp El Segundo CA $1,700,000
Kudoes to the Associated Press for asking the banks where the money went when every agency and official of government went blithely on their merry way without a thought to where $350 billion might have gone.
Let's hear from you on this travesty of the American "democracy!~" Let Middle America's outrage be heard all the way to Washington. ###
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jchowell Says:
On December 29, 2008
at 08:12 PM
Some time ago I received an email which addressed the issue of bailouts this way: Give each tax-payer a cut of the (at that time) $850 billion to spend as he or she pleases. I can't recall the amount each one of us would have received, but I could have bought a new Chevy pick-up, had the driveway paved, put on a screen porch and donated to charity with no problem. I like to think of what the various folks would have done with their money. Most would have spent it, I suspect, thus creating a booming economy. The folks who were in trouble with their mortgage could have dealt with that, solving the problems of the various financial institutions. I'm sure this solution was never thought of by Congress as viable, if thought of at all. The notion of giving this much money to the common folks to do with what we want is unfathomable.
Everybody knows we can't be trusted. Isn't it interesting that so much dough was forked over to the very same folks who created the financial mess to begin with? And really, there wasn't much fuss about it, was there? Just another day in America. I'm guessing if truth be known, we would find many of our financial wizards are into drugs, gambling, whoring around and investing money in places like Dubai (you know, where the sheiks are building all those islands covered with towers of babel, casinos and indoor skiing facilities--with money from oil profits). It is astounding to me how someone could sell out his own country, which launched him on the path to success, for a "mess of pottage" which is all these space castles, baubles, bimbos and beads amout to. It is even more astounding, that these folks should be rewarded for their crimes, rather than be held accountable. I wonder if the Obama administration will be able to address anything much during the upcoming months? I fear the Big Hogs at the Trough have eaten every thing up. Let's put 'em on the spit and roast 'em for doing that. What do you say, America? |
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