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Thursday, December 25, 2008

Where has accountability gone?

The big banks that have taken part of the $700 billion dollar bailout are now refusing to answer questions about where the money has gone. They were supposed to use the money to lend but according to a recent Associated Press investigative article, these same banks have spent $1.6 billion of BAILOUT MONEY for executive compensation and bonuses.

Here is an article showing which banks have and are expected to take part of the bailout.

Here is a blog post showing which banks to date have NOT taken bailout money.

I won't recommend doing anything with your money but I am seriously thinking about changing my banks. I've provided you with the above info so you can make an informed decision if you decide to do the same. These banks are behaving OUTRAGEOUSLY!

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Michael