Saturday, January 01, 2011

Connecticut's municipal bailouts

Cheshire's not included here, but from a CT perspective I thought this link to the Federal Reserve bailouts might be interesting. It appears that:

1) Bridgeport -- $105 million
2) Bristol -- $106 million
3) Milford -- $163 million
4) Stamford -- $63 million

cashed in on the Federal Reserves $13 trillion in various bailouts by getting a collective bailout of $436,000,000 via the TALF.  The TALF was one of numerous bailout programs created by King Ben. Other bailout programs included the TAF, TSLF, PDCF... and many others.

Anyone happen to know if Gov-elect Malloy was asked about Stamford bailouts during the campaign? The act of receiving the bailout is now irrelevant. But it would be worthwhile to get our next Governor on the record regarding his general philosophy on bailouts.

Tim White

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