Tuesday, December 23, 2008

More Fuel on the Wall Street Backlash Fire

American taxpayers have loaned literally hundreds of billions of dollars to banking institutions all across the country.  You might think that those banking institutions would feel obligated to account for how they are deploying those hundreds of billions of dollars.

As Jim Cramer used to say:  WRONG!  They're not telling and its none of your damn business.   Literally.

Per the AP:  "We've lent some of it. We've not lent some of it. We've not given any accounting of,  'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."