11.11.2008

Treasury covering for banks' failure to lend

Did you get mad when you learned that the banks admitted they wouldn't use your bailout money to make new loans?

How about when you found out that the banks are using your money to pay executive bonuses, distribute dividends to shareholders, and - with the government's assistance - to buy out their competitors?

Well, the head of Treasury's bailout program is making excuses for the banks' failure to lend. As CNBC writes:

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