Of the 287 institutions receiving funds from America's Troubled Asset Relief Program (TARP), Citigroup heads the list at #1 with $45 billlion, ahead of AIG and General Motors (General Motors?), according to ProPublica:
1) Citigroup - $45 billion
2) AIG - $40 billion
3) JPMorgan Chase - $25 billion
4) Bank of America (incl. Merrill Lynch) - $25 billion
5) Wells Fargo - $25 billion
6) General Motors - $14.4 billion
7) Goldman Sachs - $10 billion
8) Morgan Stanley - $10 billion
9) PNC Financial Services - $7.6 billion
10) U.S. Bancorp - $6.6 billion
11) GMAC - $5 billion
12) SunTrust- $4.9 billion
13) Chrysler - $4 billion
14) Capital One Financial Corp. - $3.6 billion
15) Regions Financial Corp. - $3.5 billion
Meanwhile, Germany has followed the "Brown Bailout Plan", as some call it, by buying 25% of Commerzbank.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...