From the NY times.
At least 15 new banks have signed up for the government’s offer of a cash injection, in addition to the 9 that joined the program initially. The injections are a bid to revive the sector, which has suffered since lending has dried up and many loans have gone bad.
The Treasury Department plans to provide funds for 20 to 22 lenders in the current round of a $250 billion bank recapitalization program.
Nine of the largest banks, including JPMorgan Chase & Company and Citigroup, received the first $125 billion of capital infusions two weeks ago.
The additional 14 banks that have announced they will use the government funds includes: PNC Financial Services Group, $7.7 billion; the Capital One Financial Corporation, $3.55 billion; the Regions Financial Corporation, $3.5 billion; SunTrust Banks, $3.5 billion; Fifth Third Bancorp, $3.4 billion; KeyCorp, $2.5 billion; Comerica, $2.25 billion; the State Street Corporation, $2.0 billion; the Northern Trust Corporation, $1.5 billion; Huntington Bancshares, $1.4 billion; the First Horizon National Corporation, $866 million; the City National Corporation, $395 million; Valley National Bancorp, $330 million; Washington Federal, $200 million; and First Niagara Financial Group, $186 million.
I really cannot believe that this is the way it's going to go down (?!) Capital One is on this list. You know Capital One right? The company that is constantly bombarding you with multi-million dollar television commercials, advertising their product. The company that charges you 14% for the privilege of using their wonderful card. Yeah them. They're taking 3.5 billion of your tax dollars on top of that. You're cool with that, right? Because "whatevs", there's plenty to go around. This is America after all.
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