All I know is that when my wife and I were approved for a mortgage loan on our new Iowa house, we had to state in writing our intentions on our house in Kansas City. I’m guessing they could figure out what we were going to do with the house in the town in which we lived. And they did say “please” and “thank you,” or at least their representative communicated with those words.
The Associated Press asked America’s BB’s* four basic questions on what they were doing with taxpayer money.
How much has been spent?
What was it spent on?
How much is being held in savings?
What’s the plan for the rest?
Here’s a sample of responses, banks, and what was in the moneybag:
“We’re choosing not to disclose that.” Bank of New York Mellon, $3 billion.
“We have not disclosed that to the public. We’re declining to.” JPMorgan Chase, $25 billion.
“We’re not providing dollar-in, dollar-out tracking.” SunTrust Banks Inc. $3.5 billion.
“We manage our capital in its aggregate.” Regions Financial Corp. $3.5 billion.
(T)he bailout money “doesn’t have its own bucket.” BB&T Corp
“We are going to decline to comment on your story.” Morgan Stanley
“We’re not sharing any other details. We’re just not at this time.” Comerica Inc., $2.25 billion.
A smidgen of honesty:
“I just would prefer if you wouldn’t say that we’re not going to discuss those details.” Bank of New York Mellon
* bailed-out banks