http://www.clusterstock.com/2008/10/jp-morgan-of-course-we-won-t-use-bailout-money-to-make-loans What we do think it will help us do is perhaps be a little bit more active on the acquisition side or opportunistic side for some banks who are still struggling. And I would not assume that we are done on the acquisition side just because of the Washington Mutual and Bear Stearns mergers. I think there are going to be some great opportunities for us to grow in this environment, and I think we have an opportunity to use that $25 billion in that way and obviously depending on whether recession turns into depression or what happens in the future, you know, we have that as a backstop.” So they're gonna use it to buy up struggling competitors.!
Did'nt see that coming I mean after all we are only footing the bill, so why not let these bastards be greedy. Then after they have blown this wad of cash being greedy we can hunt these f^(kers like the swine they are. People are starting to get mad finally.
Idon'tcare if I have to vote for the "rainbow bathhouse coalition party" no incumbent will receive my vote. I don't think "we" gave them a wad to; "go buy up all your competitors and come out ahead"...
I belive alot of us said this was what was going to happen to begin with, but it is too late to go back.
It's about time someone got mad. The only thing the Bailout did was to reward the so-called creative (& greedy) fraudulent financial experts. That whole scenario had a major assist from fed reserv chairman and secretary of treasury, both appearing before Congress and promoting fear and threats of a financial melt-down, when it didn't have to happen. It is so disgusting it is beyond words.