Here’s an update on a post I made last month. It’s an account of the actual dollar amounts given to various recipients of bailout money according to CNN. Click on the plus signs to expand the lists on the CNN site.
Here’s the complete list as of today. Yeah, it’s really ugly formatting but I’m too lazy to fix it right now. (Fixed it up a bit on 1/14) Suffice it to say that the feds have blown a hell of a lot of money trying to save companies that deserve to be broke and out of business. Go ahead, find your bank, broker, and/or car company on the list!
| Date | Bailout Name | Allocated | Spent |
| Dec-07 | Term Auction Facility | $1.6 trillion | $1.6 trillion |
| Feb-08 | Economic Stimulus Act of 2008 | $168 billion | $168 billion |
| Mar-08 | Bear Stearns bailout | $29 billion | $29 billion |
| Mar-08 | Discount window | n/a | $131.9 billion1 |
| May-08 | Student loan guarantees | $9 billion | unknown |
| Sep-08 | Fannie Mae and Freddie Mac bailout | $200 billion | $13.8 billion |
| Sep-08 | Foreign exchange dollar swaps | Unlimited2 | n/a2 |
| Oct-08 | FHA housing rescue | $320 billion | unknown |
| Oct-08 | Auto industry energy efficiency loans | $25 billion | $0 |
| Oct-08 | Troubled Asset Relief Program | $700 billion | $276.3 billion |
| Nov-08 | AIG capital investment | $40 billion | $40 billion |
| Breakdown of TARP spending | |||
| Financial Institution | City | Amount | |
| 10/28/2008 | Wells Fargo & Co. | San Francisco | $25,000,000,000 |
| 10/28/2008 | JPMorgan Chase & Co. | New York | $25,000,000,000 |
| 10/28/2008 | Citigroup Inc. | New York | $25,000,000,000 |
| 10/28/2008 | Bank of America Corp. | Charlotte | $15,000,000,000 |
| 10/28/2008 | Morgan Stanley | New York | $10,000,000,000 |
| 10/28/2008 | Goldman Sachs Group Inc. | New York | $10,000,000,000 |
| 11/17/2008 | U.S. Bancorp | Minneapolis | $6,599,000,000 |
| 11/17/2008 | Capital One Financial Corp. | McLean | $3,555,199,000 |
| 11/17/2008 | Regions Financial Corp. | Birmingham | $3,500,000,000 |
| 11/17/2008 | SunTrust Banks Inc. | Atlanta | $3,500,000,000 |
| 11/17/2008 | BB&T Corp. | Winston-Salem | $3,133,640,000 |
| 10/28/2008 | Bank of New York Mellon Corp. | New York | $3,000,000,000 |
| 11/17/2008 | KeyCorp | Cleveland | $2,500,000,000 |
| 11/17/2008 | Comerica Inc. | Dallas | $2,250,000,000 |
| 10/28/2008 | State Street Corp. | Boston | $2,000,000,000 |
| 11/17/2008 | Marshall & Ilsley Corp. | Milwaukee | $1,715,000,000 |
| 11/17/2008 | Northern Trust Corp. | Chicago | $1,576,000,000 |
| 11/17/2008 | Zions Bancorporation | Salt Lake City | $1,400,000,000 |
| 11/17/2008 | Huntington Bancshares | Columbus | $1,398,071,000 |
| 11/17/2008 | First Horizon National Corp. | Memphis | $866,540,000 |
| 11/17/2008 | TCF Financial Corp. | Wayzata | $361,172,000 |
| 11/17/2008 | Valley National Bancorp | Wayne | $300,000,000 |
| 11/17/2008 | UCBH Holdings Inc. | San Francisco | $298,737,000 |
| 11/17/2008 | Umpqua Holdings Corp. | Portland | $214,181,000 |
| 11/17/2008 | Washington Federal Inc. | Seattle | $200,000,000 |
| 11/17/2008 | Provident Bancshares Corp. | Baltimore | $151,500,000 |
| 11/17/2008 | Bank of Commerce Holdings | Redding | $17,000,000 |
| 11/17/2008 | 1st FS Corp. | Hendersonville | $16,369,000 |
| 11/17/2008 | Broadway Financial Corp. | Los Angeles | $9,000,000 |
| 11/21/2008 | First Niagara Financial Group | Lockport | $184,011,000 |
| 11/21/2008 | HF Financial Corp. | Sioux Falls | $25,000,000 |
| 11/21/2008 | Centerstate Banks of Florida Inc. | Davenport | $27,875,000 |
| 11/21/2008 | City National Corporation | Beverly Hills | $400,000,000 |
| 11/21/2008 | First Community Bankshares Inc. | Bluefield | $41,500,000 |
| 11/21/2008 | Western Alliance Bancorporation | Las Vegas | $140,000,000 |
| 11/21/2008 | Webster Financial Corporation | Waterbury | $400,000,000 |
| 11/21/2008 | Pacific Capital Bancorp | Santa Barbara | $180,634,000 |
| 11/21/2008 | Heritage Commerce Corp. | San Jose | $40,000,000 |
| 11/21/2008 | Ameris Bancorp | Moultrie | $52,000,000 |
| 11/21/2008 | Porter Bancorp Inc. | Louisville | $35,000,000 |
| 11/21/2008 | Banner Corporation | Walla Walla | $124,000,000 |
| 11/21/2008 | Cascade Financial Corporation | Everett | $38,970,000 |
| 11/21/2008 | Columbia Banking System, Inc. | Tacoma | $76,898,000 |
| 11/21/2008 | Heritage Financial Corporation | Olympia | $24,000,000 |
| 11/21/2008 | First PacTrust Bancorp, Inc. | Chula Vista | $19,300,000 |
| 11/21/2008 | Severn Bancorp, Inc. | Annapolis | $23,393,000 |
| 11/21/2008 | Boston Private Financial Holdings, Inc. | Boston | $154,000,000 |
| 11/21/2008 | Associated Banc-Corp | Green Bay | $525,000,000 |
| 11/21/2008 | Trustmark Corporation | Jackson | $215,000,000 |
| 11/21/2008 | First Community Corporation | Lexington | $11,350,000 |
| 11/21/2008 | Taylor Capital Group | Rosemont | $104,823,000 |
| 11/21/2008 | Nara Bancorp, Inc. | Los Angeles | $67,000,000 |
| 12/5/2008 | MB Financial Inc. | Chicago | $196,000,000 |
| 12/5/2008 | First Midwest Bancorp, Inc. | Itasca | $193,000,000 |
| 12/5/2008 | United Community Banks, Inc. | Blairsville | $180,000,000 |
| 12/5/2008 | Wesbanco Bank Inc. | Wheeling | $75,000,000 |
| 12/5/2008 | Encore Bancshares Inc. | Houston | $34,000,000 |
| 12/5/2008 | Manhattan Bancorp | El Segundo | $1,700,000 |
| 12/5/2008 | Iberiabank Corporation | Lafayette | $90,000,000 |
| 12/5/2008 | Eagle Bancorp, Inc. | Bethesda | $38,235,000 |
| 12/5/2008 | Sandy Spring Bancorp, Inc. | Olney | $83,094,000 |
| 12/5/2008 | Coastal Banking Company, Inc. | Fernandina Beach | $9,950,000 |
| 12/5/2008 | East West Bancorp | Pasadena | $306,546,000 |
| 12/5/2008 | South Financial Group, Inc. | Greenville | $347,000,000 |
| 12/5/2008 | Great Southern Bancorp | Springfield | $58,000,000 |
| 12/5/2008 | Cathay General Bancorp | Los Angeles | $258,000,000 |
| 12/5/2008 | Southern Community Financial Corp. | Winston-Salem | $42,750,000 |
| 12/5/2008 | CVB Financial Corp | Ontario | $130,000,000 |
| 12/5/2008 | First Defiance Financial Corp. | Defiance | $37,000,000 |
| 12/5/2008 | First Financial Holdings Inc. | Charleston | $65,000,000 |
| 12/5/2008 | Superior Bancorp Inc. | Birmingham | $69,000,000 |
| 12/5/2008 | Southwest Bancorp, Inc. | Stillwater | $70,000,000 |
| 12/5/2008 | Popular, Inc. | San Juan | $935,000,000 |
| 12/5/2008 | Blue Valley Ban Corp | Overland Park | $21,750,000 |
| 12/5/2008 | Central Federal Corporation | Fairlawn | $7,225,000 |
| 12/5/2008 | Bank of Marin Bancorp | Novato | $28,000,000 |
| 12/5/2008 | Bank of North Carolina | Thomasville | $31,260,000 |
| 12/5/2008 | Central Bancorp, Inc. | Somerville | $10,000,000 |
| 12/5/2008 | Southern Missouri Bancorp, Inc. | Poplar Bluff | $9,550,000 |
| 12/5/2008 | State Bancorp, Inc. | Jericho | $36,842,000 |
| 12/5/2008 | TIB Financial Corp | Naples | $37,000,000 |
| 12/5/2008 | Unity Bancorp, Inc. | Clinton | $20,649,000 |
| 12/5/2008 | Old Line Bancshares, Inc. | Bowie | $7,000,000 |
| 12/5/2008 | FPB Bancorp, Inc. | Port St. Lucie | $5,800,000 |
| 12/5/2008 | Sterling Financial Corporation | Spokane | $303,000,000 |
| 12/5/2008 | Oak Valley Bancorp | Oakdale | $13,500,000 |
| 12/5/2008 | Old National Bancorp | Evansville | $100,000,000 |
| 12/12/2008 | Capital Bank Corp. | Raliegh | $41,279,000 |
| 12/12/2008 | Pacific International Bancorp | Seattle | $6,500,000 |
| 12/12/2008 | SVB Financial Group | Santa Clara | $235,000,000 |
| 12/12/2008 | LNB Bancorp Inc. | Lorain | $25,223,000 |
| 12/12/2008 | Wilmington Trust Corp. | Wilmington | $330,000,000 |
| 12/12/2008 | Susquehanna Bancshares Inc. | Lititz | $300,000,000 |
| 12/12/2008 | Signature Bank | New York | $120,000,000 |
| 12/12/2008 | HopFed Bancorp | Hopkinsville | $18,400,000 |
| 12/12/2008 | Citizens Republic Bancorp Inc. | Flint | $300,000,000 |
| 12/12/2008 | Indiana Community Bancorp | Columbus | $21,500,000 |
| 12/12/2008 | Bank Of the Ozarks Inc. | Little Rock | $75,000,000 |
| 12/12/2008 | Center Financial Corp. | Los Angeles | $55,000,000 |
| 12/12/2008 | NewBridge Bancorp | Greensboro | $52,372,000 |
| 12/12/2008 | Sterling Bancshares Inc. | Houston | $125,198,000 |
| 12/12/2008 | The Bancorp Inc. | Wilmington | $45,220,000 |
| 12/12/2008 | TowneBank | Portsmouth | $76,458,000 |
| 12/12/2008 | Wilshire Bancorp Inc. | Los Angeles | $62,158,000 |
| 12/12/2008 | Valley Financial Corp. | Roanoke | $16,019,000 |
| 12/12/2008 | Independent Bank Corp. | Ionia | $72,000,000 |
| 12/12/2008 | Pinnacle Financial Partners Inc. | Nashville | $95,000,000 |
| 12/12/2008 | First Litchfield Financial Corp. | Litchfield | $10,000,000 |
| 12/12/2008 | National Penn Bancshares Inc. | Boyertown | $150,000,000 |
| 12/12/2008 | Northeast Bancorp | Lewiston | $4,227,000 |
| 12/12/2008 | Citizens South Banking Corp. | Gastonia | $20,500,000 |
| 12/12/2008 | Virginia Commerce Bancorp | Arlington | $71,000,000 |
| 12/12/2008 | Fidelity Bancorp Inc. | Pittsburgh | $7,000,000 |
| 12/12/2008 | LSB Corp. | Andover | $15,000,000 |
| 12/19/2008 | Intermountain Community Bancorp | Sandpoint | $27,000,000 |
| 12/19/2008 | Community West Bancshares | Goleta | $15,600,000 |
| 12/19/2008 | Synovus Financial Corp. | Columbus | $967,870,000 |
| 12/19/2008 | Tennessee Commerce Bancorp, Inc. | Franklin | $30,000,000 |
| 12/19/2008 | Community Bankers Trust Corporation | Glen Allen | $17,680,000 |
| 12/19/2008 | BancTrust Financial Group, Inc. | Mobile | $50,000,000 |
| 12/19/2008 | Enterprise Financial Services Corp. | St. Louis | $35,000,000 |
| 12/19/2008 | Mid Penn Bancorp, Inc. | Millersburg | $10,000,000 |
| 12/19/2008 | Summit State Bank | Santa Rosa | $8,500,000 |
| 12/19/2008 | VIST Financial Corp. | Wyomissing | $25,000,000 |
| 12/19/2008 | Wainwright Bank & Trust Company | Boston | $22,000,000 |
| 12/19/2008 | Whitney Holding Corporation | New Orleans | $300,000,000 |
| 12/19/2008 | The Connecticut Bank and Trust Company | Hartford | $5,448,000 |
| 12/19/2008 | CoBiz Financial Inc. | Denver | $64,450,000 |
| 12/19/2008 | Santa Lucia Bancorp | Atascadero | $4,000,000 |
| 12/19/2008 | Seacoast Banking Corporation of Florida | Stuart | $50,000,000 |
| 12/19/2008 | Horizon Bancorp | Michigan City | $25,000,000 |
| 12/19/2008 | Fidelity Southern Corporation | Atlanta | $48,200,000 |
| 12/19/2008 | Community Financial Corporation | Staunton | $12,643,000 |
| 12/19/2008 | Berkshire Hills Bancorp, Inc. | Pittsfield | $40,000,000 |
| 12/19/2008 | First California Financial Group, Inc | Westlake Village | $25,000,000 |
| 12/19/2008 | AmeriServ Financial, Inc | Johnstown | $21,000,000 |
| 12/19/2008 | Security Federal Corporation | Aiken | $18,000,000 |
| 12/19/2008 | Wintrust Financial Corporation | Lake Forest | $250,000,000 |
| 12/19/2008 | Flushing Financial Corporation | Lake Success | $70,000,000 |
| 12/19/2008 | Monarch Financial Holdings, Inc. | Chesapeake | $14,700,000 |
| 12/19/2008 | StellarOne Corporation | Charlottesville | $30,000,000 |
| 12/19/2008 | Union Bankshares Corporation | Bowling Green | $59,000,000 |
| 12/19/2008 | Tidelands Bancshares, Inc | Mt. Pleasant | $14,448,000 |
| 12/19/2008 | Bancorp Rhode Island, Inc. | Providence | $30,000,000 |
| 12/19/2008 | Hawthorn Bancshares, Inc. | Lee’s Summit | $30,255,000 |
| 12/19/2008 | The Elmira Savings Bank, FSB | Elmira | $9,090,000 |
| 12/19/2008 | Alliance Financial Corporation | Syracuse | $26,918,000 |
| 12/19/2008 | Heartland Financial USA, Inc. | Dubuque | $81,698,000 |
| 12/19/2008 | Citizens First Corporation | Bowling Green | $8,779,000 |
| 12/19/2008 | FFW Corporation | Wabash | $7,289,000 |
| 12/19/2008 | Plains Capital Corporation | Dallas | $87,631,000 |
| 12/19/2008 | Tri-County Financial Corporation | Waldorf | $15,540,000 |
| 12/19/2008 | OneUnited Bank | Boston | $12,063,000 |
| 12/19/2008 | Patriot Bancshares, Inc. | Houston | $26,038,000 |
| 12/19/2008 | Pacific City Finacial Corporation | Los Angeles | $16,200,000 |
| 12/19/2008 | Marquette National Corporation | Chicago | $35,500,000 |
| 12/19/2008 | Exchange Bank | Santa Rosa | $43,000,000 |
| 12/19/2008 | Monadnock Bancorp, Inc. | Peterborough | $1,834,000 |
| 12/19/2008 | Bridgeview Bancorp, Inc. | Bridgeview | $38,000,000 |
| 12/19/2008 | Fidelity Financial Corporation | Wichita | $36,282,000 |
| 12/19/2008 | Patapsco Bancorp, Inc. | Dundalk | $6,000,000 |
| 12/19/2008 | NCAL Bancorp | Los Angeles | $10,000,000 |
| 12/19/2008 | FCB Bancorp, Inc. | Louisville | $9,294,000 |
| 12/31/2008 | SunTrust Banks, Inc. | Atlanta | $1,350,000,000 |
| 12/31/2008 | The PNC Financial Services Group Inc. | Pittsburgh | $7,579,200,000 |
| 12/31/2008 | Fifth Third Bancorp | Cincinnati | $3,408,000,000 |
| 12/31/2008 | Hampton Roads Bankshares, Inc. | Norfolk | $80,347,000 |
| 12/31/2008 | CIT Group Inc. | New York | $2,330,000,000 |
| 12/31/2008 | West Bancorporation, Inc. | West Des Moines | $36,000,000 |
| 12/31/2008 | First Banks, Inc. | Clayton | $295,400,000 |
| 1/9/2009 | Bank of America Corp.1 | Charlotte | $10,000,000,000 |
| 1/9/2009 | FirstMerit Corporation | Akron | $125,000,000 |
| 1/9/2009 | Farmers Capital Bank Corporation | Frankfort | $30,000,000 |
| 1/9/2009 | Peapack-Gladstone Financial Corporation | Gladstone | $28,685,000 |
| 1/9/2009 | Commerce National Bank | Newport Beach | $5,000,000 |
| 1/9/2009 | The First Bancorp, Inc. | Damariscotta | $25,000,000 |
| 1/9/2009 | Sun Bancorp, Inc. | Vineland | $89,310,000 |
| 1/9/2009 | Crescent Financial Corporation | Cary | $24,900,000 |
| 1/9/2009 | American Express Company | New York | $3,388,890,000 |
| 1/9/2009 | Central Pacific Financial Corp. | Honolulu | $135,000,000 |
| 1/9/2009 | Centrue Financial Corporation | St. Louis | $32,668,000 |
| 1/9/2009 | Eastern Virginia Bankshares, Inc. | Tappahannock | $24,000,000 |
| 1/9/2009 | Colony Bankcorp, Inc. | Fitzgerald | $28,000,000 |
| 1/9/2009 | Independent Bank Corp. | Rockland | $78,158,000 |
| 1/9/2009 | Cadence Financial Corporation | Starkville | $44,000,000 |
| 1/9/2009 | LCNB Corp. | Lebanon | $13,400,000 |
| 1/9/2009 | Center Bancorp, Inc. | Union | $10,000,000 |
| 1/9/2009 | F.N.B. Corporation | Hermitage | $100,000,000 |
| 1/9/2009 | C&F Financial Corporation | West Point | $20,000,000 |
| 1/9/2009 | North Central Bancshares, Inc. | Fort Dodge | $10,200,000 |
| 1/9/2009 | Carolina Bank Holdings, Inc. | Greensboro | $16,000,000 |
| 1/9/2009 | First Bancorp | Troy | $65,000,000 |
| 1/9/2009 | First Financial Service Corporation | Elizabethtown | $20,000,000 |
| 1/9/2009 | Codorus Valley Bancorp, Inc. | York | $16,500,000 |
| 1/9/2009 | MidSouth Bancorp, Inc. | Lafayette | $20,000,000 |
| 1/9/2009 | First Security Group, Inc. | Chattanooga | $33,000,000 |
| 1/9/2009 | Shore Bancshares, Inc. | Easton | $25,000,000 |
| 1/9/2009 | The Queensborough Company | Louisville | $12,000,000 |
| 1/9/2009 | American State Bancshares, Inc. | Great Bend | $6,000,000 |
| 1/9/2009 | Security California Bancorp | Riverside | $6,815,000 |
| 1/9/2009 | Security Business Bancorp | San Diego | $5,803,000 |
| 1/9/2009 | Sound Banking Company | Morehead City | $3,070,000 |
| 1/9/2009 | Mission Community Bancorp | San Luis Obispo | $5,116,000 |
| 1/9/2009 | Redwood Financial Inc. | Redwood Falls | $2,995,000 |
| 1/9/2009 | Surrey Bancorp | Mount Airy | $2,000,000 |
| 1/9/2009 | Independence Bank | East Greenwich | $1,065,000 |
| 1/9/2009 | Valley Community Bank | Pleasanton | $5,500,000 |
| 1/9/2009 | Rising Sun Bancorp | Rising Sun | $5,983,000 |
| 1/9/2009 | Community Trust Financial Corporation | Ruston | $24,000,000 |
| 1/9/2009 | GrandSouth Bancorporation | Greenville | $9,000,000 |
| 1/9/2009 | Texas National Bancorporation | Jacksonville | $3,981,000 |
| 1/9/2009 | Congaree Bancshares, Inc. | Cayce | $3,285,000 |
| 1/9/2009 | New York Private Bank & Trust Corporation | New York | $267,274,000 |
| Auto Industry Bailout | |||
| Date | Recipient | Amount Allocated | Amount Spent |
| Dec-08 | General Motors | $13.4 billion | $4 billion |
| Dec-08 | Chrysler | $4 billion | $4 billion |
| Dec-08 | GMAC | $6 billion | $6 billion |
| Nov-08 | Citigroup capital investment | $20 billion | $20 billion |
| Nov-08 | Citigroup loan loss backstop | $5 billion | $0 |
| Nov-08 | TALF loss provisions | $20 billion | $0 |
| Oct-08 | Money market guarantees | $659 billion | unknown |
| Oct-08 | Commercial Paper Funding Facility | $1.4 trillion | $331.7 billion |
| Nov-08 | Unemployment benefit extensions | $8 billion | $8 billion |
| AIG Bailout | |||
| Nov-08 | Treasury capital investment | $40 billion | $40 billion |
| Nov-08 | Bridge loan | $60 billion | $39.5 billion |
| Nov-08 | Collateralized debt obligation purchases | $30 billion | $28.2 billion |
| Nov-08 | Mortgage-backed securities purchases | $22.5 billion | $20 billion |
| Nov-08 | Commercial paper purchases4 | $20.9 billion4 | unknown4 |
| Nov-08 | Citigroup loan-loss backstop | $300 billion | $0 |
| Nov-08 | Term Asset-Backed Securities Loan Facility | $200 billion | $0 |
| Nov-08 | GSE mortgage-backed securities purchases | $500 billion | $0 |
| Nov-08 | GSE debt purchases | $100 billion | $0 |
| Nov-08 | FDIC Temporary Liquidity Guarantee Program | Unlimited | unknown |
| FDIC bank takeovers – 2008 | |||
| Date | Name of bank | City | FDIC fund cost |
| 1/25/2008 | Douglass National Bank | Kansas City | $5.6 million |
| 3/7/2008 | Hume Bank | Hume | $0 |
| 5/9/2008 | ANB Financial | Bentonvile | $214 million |
| 5/30/2008 | First Integrity Bank | Staples | $2.3 million |
| 7/11/2008 | IndyMac Bank | Pasadena | $8.9 billion1.0 |
| 7/25/2008 | First National Bank of Nevada | Reno | $862 million1.1 |
| 7/25/2008 | First Heritage Bank | Newport Beach | $862 million1.1 |
| 8/1/2008 | First Priority Bank | Bradenton | $72 million |
| 8/22/2008 | The Columbian Bank and Trust Company | Topeka | $60 million |
| 8/29/2008 | Integrity Bank | Alpharetta | $350 million |
| 9/5/2008 | Silver State Bank | Henderson | $550 million |
| 9/19/2008 | Ameribank | Northfork | $42 million |
| 9/25/2008 | Washington Mutual Bank | Henderson | $0 |
| 10/10/2008 | Main Street Bank | Northville | $39 million |
| 10/10/2008 | Meridian Bank | Eldred | $14.5 million |
| 10/24/2008 | Alpha Bank & Trust | Alpharetta | $158.1 million |
| 10/31/2008 | Freedom Bank | Bradenton | $104 million |
| 11/7/2008 | Franklin Bank | Houston | $1.6 billion |
| 11/7/2008 | Security Pacific Bank | Los Angeles | $210 million |
| 11/21/2008 | The Community Bank | Loganville | $240 million |
| 11/21/2008 | Downey Savings and Loan Association | Newport Beach | $1.4 billion |
| 11/21/2008 | PFF Bank and Trust | Pomona | $700 million |
| 12/5/2008 | First Georgia Community Bank | Jackson | $72.2 million |
| 12/12/2008 | Haven Trust Bank | Guluth | $200 million |
| 12/12/2008 | Sanderson State Bank | Sanderson | $12.5 million |
Filed under: Economy, Political Tagged: | bailout, Banks, Bush is an idiot, helicopter ben, stimulous, TAF, TARP
[...] This happened to be the first time the FDIC shut down any banks this year. It won’t be the last. Looks like I’ll have to update my page that lists bailouts and bank closings. [...]
The banks are paying back the TARP money rapidly with interest and the government is receiving warrants for stock. I think far from being a waste of tax payers money, the government will wind up making a good return on their investment. And the funds used by the FDIC to takeover failed banks come from insurance premiums paid by the banks. These particular programs are not where the government waste is located.