Tuesday, October 14, 2008

The Plan... (work in progress)

Here's how Paulson is investing your money ... with absolutely no accountability. I cannot believe that a non-elected official has this much power.

Citigroup
J.P. Morgan
B of A
Wells Fargo
$25 bn
$25bn
$25bn
$25bn

Goldman
MS
State Street
B of NY
$10bn
$10bn
$2bn
$3bn

Edited to add:
The numbers are downright scary; the numbers above didn't look too big at first, but here's how they stack up as a percentage of the outstanding common equity of those companies:
Citigroup = 25/86 = 29%
JP Morgan = 25/164 = 15%
BofA = 25/141 = 18%
WF = 25/111 = 23%
GS = 10/44 = 23%
MS = 10/35 = 29%
BNY = 2/35 = 6%
SSB = 3/21 = 14%

Edited a second time to add the percentages in terms of book shareholder equity (as of 9/30):
GS = 22% (WSJ)
JP Morgan = 19% (WSJ)
Citigroup = 18% (WSJ)
BofA = 25/186 = 13%
WF = 25/73 = 34%
MS = 10/46 = 22%
BNY = 2/32 = 6%
SSB = 3/16 = 19%

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