From Pine View Farm

Peeking under the TARP 0

Many have theorized that one reason the Bush administration gave so much TARP money to so many banks, including those who protested that they didn’t need it, was that the Treasury Department didn’t want to reveal who was in the biggest trouble. (For example, follow this link and listen to Hour One, October, 6, 2009, or click here to listen to the mp3.)

If this were indeed the case, I guess now we have a hint who they were protecting:

Bank of America Corp., the biggest U.S. lender, posted its second quarterly loss in less than a year, unable to shake off effects of the economic contraction that drove the company to take two taxpayer bailouts.

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