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Our money (hidden under a TARP) is leaving the country.

13 March, 2009

In my series on Bank of America, I pointed out that it had acquired nearly 20% of the China Construction bank using bailout money.  Eventually, it had to sell some shares to raise capital (before it got another bailout).

It turns out that Dennis Kucinich decided to take a look at where the TARP funds were going.  He is chairman of the Domestic Policy sub-committe.  In a brief interview at Fox News he talks about BofA and Citigroup.  HERE

UPDATE:  Thanks to Lee M in a comment at InsightAnalytical.

Business and Media Institute posted an article yesterday entitled “Nightly News” Perplexed by TARP – Recipients Lending to Foreign Countries. HERE

In this article Citigroups, Bank of America, and JP Morgan Chase are the banks being discussed and the article goes into greater detail.  A video of Dennis Kucinich is also included.  Definitely worth a read.

Here is Kucinich on CNN.


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One Comment leave one →
  1. RaiulBaztepo permalink
    28 March, 2009 21:15

    Hello!
    Very Interesting post! Thank you for such interesting resource!
    PS: Sorry for my bad english, I’v just started to learn this language 😉
    See you!
    Your, Raiul Baztepo

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