And there it goes...
See this post from Bailout Sleuth.
It details a report from a House committee on TARP oversight. Here's some places where our bailout money has gone:
The transactions included a $2 billion repurchase by Goldman Sachs Group, Inc. of its own company stock. Goldman Sachs Group received $10 billion in TARP funds on October 26, 2008.
The subcommittee said it identified the questionable transactions through testimony from Dow Jones & Co., the business information firm.
Also singled out for scrutiny were an $8 billion loan from Citigroup Inc. to public sector entities in Dubai; a $1 billion investment by J.P. Morgan Chase & Co. in the development of cash management and trade finance solutions in India; and a $7 billion investment by Bank of America Corp. in a Chinese bank.
Hopefully now that there is more scrutiny on this, any bailout money that is given out will be put toward its intended use. The transactions above just show that the 'urgent' TARP wasn't really so urgent to keep the US economy going.
