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February 11, 2009

Planes, Trains, and Automobiles...and NONE of them privately owned!!!

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by Ron Daly 


It's been a couple months now, so I presume you've gotten used to my tirades. One of my first and most popular was my anger with the Big Three automakers flying to their Congressional testimonies in private jets (click here for a blast from the past).

I guess the CEOs of the 8 largest banks in the country are avid readers! [Editor's Note: They're not...not that we know of ] They all took public transportation to their meeting with the Congress this week (read about it here). Luckily, Citigroup cancelled their order for a $50 million jet...otherwise, they'd be on my short list (read about that little gem here). 

So now they're all here in DC, sweating through their suits and trying to account for their cut of the bailout pie. My guess? We don't know what they did with their money...come to think of it, I'll bet they don't either...but we do know how MUCH they got. 
A breakdown of how much money each of the CEO's respective banks got, and a link to their statements: 
  1. Wells Fargo - $25 billion 
  2. JP Morgan -   $25 billion
  3. Citigroup Inc. - $25 billion
  4. Bank of America Corp. - $15 billion 
  5. Morgan Stanley -  $10 billion
  6. Goldman Sachs -  $10 billion
  7. Bank of New York -  $3 billion
  8. State Street Corp -   $2 billion
Their Statements: Click here for the WSJ story and the PDF copies of the CEOs' statements.

Want to know how much the other banks got out of the bailout? Click here for CNN's oft-updated list of bailout recipients

We’ll keep an eye out for interesting news coming from the meetings and bring it to you. If you see something or have a comment, let the readers know in the comments section.

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