PNC, National City shareholders approve merger

biz.yahoo.com, Associated Press by Ramit Plushnick-Masti | Dec. 23, 2008 (News Report)

PNC is acquiring Cleveland-based National City for $5.6 billion with money it obtained through the government's $700 billion bailout program. PNC is the first U.S. bank to use that money to make an acquisition. Full Story »

Posted by Dwight Rousu

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Subjects: U.S., Politics, Business, Living
Topics: Bush Administration, U.S. Congress, U.S. Economy, Money and Politics, Finance, Money
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Posted by: Posted by Dwight Rousu - Dec 23, 2008 - 9:22 AM PST
Reviewed by: Dwight Rousu (review)
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Edited by: Dwight Rousu - Dec 23, 2008 - 9:22 AM PST

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Dwight Rousu
3.7
 by Dwight Rousu - Dec. 23, 2008

The important note is that tax bailout money is reported as used to finance a merger. No mention is made of how this helps taxpayers by increasing liquidity and loaning of money.

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  • Where'd the Bailout Money Go? Shhhh, It's a Secret

    Associated Press by Matt Apuzzo | Dec. 22, 2008 (Investigative Report)
    () It's something any bank would demand to know before handing out a loan: Where's the money going? But after receiving billions in aid from U.S. taxpayers, the nation's largest ...
    Posted by Michael Bugeja
    4.0
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