by Calculated Risk on 10/09/2009 04:02:00 PM
Friday, October 09, 2009
Thirty-three TARP Recipients Miss Scheduled Dividend Payments
While we wait for the FDIC, from Rolfe Winkler at Reuters: TARP deadbeats
Thirty-three TARP recipients missed a scheduled dividend payment to taxpayers last month, according to the Treasury Department, including 18 banks that missed a payment for the first time.Market update:
...
The 33 banks that missed dividend payments in August have received $4.5 billion of TARP money. The biggest is CIT. Previously it paid $44 million of dividends, but with a bankruptcy filing looking likely, Treasury’s $2.3 billion investment seems headed toward zero.
The second graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears".
Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.