Dec 1, 2008
So far, the U.S. Treasury Department has burned through hundreds of billions of dollars bailing out banks and insurance companies. What happened to all the money? About a third has gone into dividends the banks are paying their shareholders. Some of the rest into executive salaries and bonuses. Another portion has been used by banks to buy each other up. More than 200 billion dollars was swallowed up by giant insurer, AIG.
While more and more people face a depression and economic catastrophe, our taxpayer money could have been used to create jobs, expand the safety net and social programs like education and health care.
Instead it is going to the same billionaires who caused the crisis.