Where are the funds being given to banks going?

[grizzley]

I haven't seen any articles in the UK devulging that information but this one on the U.S. gives some suggestions...

Monday » January 26 » 2009

Goldman Sachs stars lose their lustre amid crisis
Former top executives at investment bank look somewhat less brilliant now

Elinor Comlay
Reuters


Monday, January 26, 2009


John Thain, Bank of America's just ousted head of investment banking, securities and wealth management, is only the latest alumnus from Wall Street powerhouse Goldman Sachs to fall abruptly from grace as the legendary bank loses its aura of invincibility.

Thain -- the former chief operating officer at Merrill Lynch -- masterminded that bank's sale to Bank of America Corp. But he was forced to leave BofA under the shadow of a $15.31 billion fourth-quarter loss at Merrill, as well as allegations he was a lavish spender.

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[please don't copy whole articles - a sentence and a link is all that is required]

[Foxy1]

i found the link to the above story

LINK

[Marshall]

If not to golden parachutes, it's going to bail out some Wall Street "big shots" who lost alot of money betting on risks. Of course these twats are being taken care of by their buddies like Paulson, so money lost from risky ventures is now being foisted onto the taxpayer. These jerks should all be in jail.

[lawrence]

Where do you think the money is going ? The banks have lost billions and billions and are on the verge of bankruptcy , and are continuing to lose billions more , the money is going to cover their losses and keep them in business.