Capital One Buying Chevy Chase with Bailout Money?
As I noted earlier, Capital One is planning to buy Chevy Chase. So, how is Capital One able to purchase Chevy when they just received billions of taxpayers’ dollars in bailout funds from the Treasury Department?
According to the GAO report released yesterday on the $700 billion bailout program (TARP), Capital One recently received $3.555 billion presumably to keep them afloat and promote lending, not acquisitions.
Capital One TARP Bailout
Hank Paulson is doing a heckuva job.
