The companies are Citigroup Inc., Wells Fargo & Co., JPMorgan Chase & Co., Bank of America Corp., Goldman Sachs Group Inc., Morgan Stanley, State Street Corp., and Bank of New York Mellon Corp., the people said. One of the people also said Merrill Lynch & Co. will receive an investment.
None of banks getting government money was given a choice about it, said one of the people familiar with the plans. All of the banks involved will have to submit to compensation restrictions, said the person.
The Treasury plans to spend:
$25 billion Citigroup
$25 billion JPMorgan
$25 billion will be divided between Bank of America and Merrill
$10 billion Goldman
$10 billion Morgan Stanley
$3 billion State Street and
$3 billion Bank of New York
This is all just to hide that Goldman MS Citi are insolvent They should have given them a few billion to keep them afloat.
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