Your Tax Dollars at Work

Nice dynamic interactive chart from the New York Times online outlining the amount of allocated, pending and uncommitted funds under the Treasury Department’s TARP program.  The table allows you to sort by columns and I assume will be updated regularly.  Nice way to keep up with who’s gotten what.  Somewhat surprising are some of the smaller institutions and equally smaller allocations as small as $1 million dollars.  One has to wonder what the cost of allocating the TARP in increments of $1 million must be.

One reason for the continued credit crisis is that banks have been slow to use the money they are receiving.  Other reason is the slow speed at which funds are being deployed. Looking at the chart I’m not sure whether to be happy or concerned that only $158.6 billion has actually been deployed to date.

Dozens of banks and a handful of insurers have applied for funds from the Treasury Department as part of the $700 billion Troubled Asset Relief Program. The Treasury has transferred capital to 30 of these companies and to A.I.G. More are expected to announce their participation in the coming weeks.

Click on the image for a direct link the the interactive site.

Tracking the $700 Billion Bailout

Tracking the $700 Billion Bailout

Source:
Tracking the $700 Billion Bailout
New York Times Online, Accessed November 22, 2008
http://projects.nytimes.com/creditcrisis/recipients/table

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