Click here for article.

Click here for a mortgage professional.

Check out this article from the Tribune-Review.

Now remember, PNC took $7billion from TARP. National City’s price tag was $5.6billion. That leaves $1.4billion laying around burning a hole in PNC’s pocket.

Here’s an idea: throw some money at National City’s charitiable causes. A magnanimous idea, if it weren’t OUR money.

PNC: Congrats on taking being the first to use the TARP money to buy another bank. You’ve become a leader in one of the most crooked scams in our country’s history.

click here for Pittsburgh Tribune-Review Article

First, PNC announced they were using bailout money to buy National City.  Now, Parkvale Bank and S&T Bank are taking bailout money, too.

These banks are not passing through the bailout money to businesses or consumers. They’re using the bailout money to buy other banks and thereby increase their “footprint.” How does that stimulate the econoomy?And now they’re using the bailout money to help automakers. This is absurd!

Here’s a great article on the misuse of the bailout money. Congressmen get angry about the misuse, but are they really going to do anything about it?

Further reading here, here, and here.

January 2, 2008: update here.