As promised, the Treasury Department rolled out a brand new Web site this week: FinancialStability.gov is supposed to be the citizen’s guide to the $700 billion bailout (although the word “bailout” doesn’t actually appear anywhere on the site). It’s a marked improvement over the old site, which was not much more than a hastily assembled jumble of links.
First, the bad news: If you were looking for a clear breakdown of how many taxpayer dollars Treasury has committed so far, you won’t find it there. You can only arrive at such a total with some painstaking addition (which we’ll break down in a subsequent post). Providing that ongoing tally is a resource we hope to provide with a new, revitalized version of our list of bailout recipients coming soon.
There is good news. Treasury has followed through on its promise to post the contract for each investment. You can finally get Treasury’s list of its investments in a format other than a PDF file – and those wanting a downloadable spreadsheet can get it here.
March 31, 6:04 p.m.: This post has been updated.
Since October, more than $300 billion has flowed from the Treasury Department to more than 500 banks, AIG and the auto companies. Now some of it is starting to come back.
Today, four banks announced that they have reimbursed Treasury's investments. Louisiana's IberiaBank returned $90 million, Signature Bank of New York returned $120 million, Indiana's Old National Bancorp returned $100 million, and California's Bank of Marin returned $28 million today.
Another week, another couple hundred million. According to information released today (pdf), the Treasury Department invested $395 million in 28 more banks on Friday.
That brings us to 473 different financial institutions to get a piece of the bailout. See our running tally of each and every bank (and auto and insurance company, etc.) here.
Safeguard the public interest.
Support ProPublica’s award-winning investigative journalism.
We're tracking where the bailout money is going. Our lead bailout reporter – and blogger – is ProPublica's Paul Kiel. Lead developer is Dan Nguyen.
- Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.
Latest Bailout Activity
Loading latest bailouts feed...