Where did that bailout money go?
As Congress debates changes to the second half of the $700 billion Troubled Assets Relief Program, the reporters at ProPublica have been keeping a tally of which banks have qualified for the loan money.
So far, just one Oklahoma bank, the parent company of Stillwater National Bank & Trust Co., has qualified. You can read its SEC disclosure about the $70 million loan here.
The U.S. House of Representatives, meanwhile, is debating additional changes, including enhanced disclosure from the Treasury Department. That includes a database and “online reports.” The transparency advocates at the Sunlight Foundation have more on that effort.
You can search for other participating banks by downloading the latest Treasury Department report here. (PDF link)
–Paul
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