TARP Recipients

TARP Recipients

It has been years since the Emergency Economic Stabilization Act of 2008, commonly referred to as a bailout of the U.S. financial system, became law.  Lest we forget, the bailout was in response to bad loans and cascading losses at financial institutions including the collapse or near-collapse of Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, AIG and Wachovia.  The Troubled Asset Relief Program (TARP) authorized the U.S. Secretary of Treasury to spend up to $700 billion to purchase distressed assets and to make capital injections into banks.  Here is a partial list of TARP recipients and capital injected:

  1.  Citigroup $25 billion
    Bank Run

    Old Style Bank Run

  2. JPMorgan $25 billion
  3. Wells Fargo $25 billion
  4. Bank of America $15 billion
  5. Goldman Sachs $10 billion
  6. Merrill Lynch $10 billion
  7. Morgan Stanley $10 billion
  8. PNC Financial $7.7 billion
  9. US Bancorp $6.6 billion
  10. Capital One $3.55 billion
  11. Regions Financial $3.5 billion
  12. SunTrust $3.5 billion
  13. Fifth Third $3.4 billion
  14. BB&T Corp. $3.1 billion
  15. Bank of New York Mellon $3 billion
  16. Keycorp $2.5 billion
  17. Comerica$2.25 billion
  18. State Street $2 billion
  19. Marshall & Ilsle $1.7 billion
  20. Northern Trust $1.5 billion
  21. Huntington Bancshares $1.4 billion
  22. Zions Bancorporation $1.4 billion
  23. Synovus $973 million
By |2018-02-18T09:53:20-04:00June 11th, 2010|Government Policy|0 Comments

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Parker Evans, CFA, CFP, CMT is President of Successful Portfolios LLC, an SEC Registered Investment Advisor Firm based in Clearwater, FL. Parker helps individuals, families, and organizations plan and manage custom investment portfolios at leading brokerages including Charles Schwab, TD Ameritrade, and Interactive Brokers.