Where the money will go–$250 billion bank stakes
By Daniel at 13 October, 2008, 10:50 pm
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Treasury plans to take equity positions by mobilizing funds from $700 billion bailout package.
Citigroup $25 billion
J.P. Morgan $25 billion
Bank of America $12.5 billion
Merrill Lynch $12.5 billion
Goldman Sachs $10 billion
Morgan Stanley $10 billion
State Street Bank $3 billion
Bank of New York $3 billion
Any bank that takes a capital infusion from the US Government should be FORCED to eliminate its dividend immediately. If you have capital to pay a dividend, you don’t need a handout from the taxpayers. Period.
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