The 14 Most Shocking Recipients Of The Bailout Money That Was Supposed To Be For American Banks

harley davidson

Photo: Harley Davidson Press Release

One of the most interesting things in the documents the Fed finally released about the juicy details of its emergency loan programs on Wednesday was all the really random companies that received Federal aid.Turns out that the various Fed loan facilities were not just tapped by American banks.

They were used extensively by a ton of American companies not in the financial sector, foreign central banks, foreign banks, money managers — and even McDonalds.



Used the CCPF twice, for a total of $1.4 billion in commercial paper.

Harley Davidson

Harley Davidson tapped the CPFF 33 times for $2.3 billion.

Auto Companies

Auto companies were major borrowers through the TAF and CPFF. Toyota tapped the CPFF for $4.6 billion. Ford and Chrysler were also beneficiaries.

General Electric

GE tapped the CPFF program 12 times for a total of $16 billion in commercial paper.


Pimco, the world's largest bond fund, borrowed from $7.25 billion from the TALF facility in 96 transactions.


10 funds connected to BlackRock were big TALF users; they collectively borrowed $2.8 billion

London aka. Europe

London-based arms of American banks were huge beneficiaries of the emergency loan program. Goldman Sachs London; Citigroup Global Markets; Morgan Stanley; Merrill Lynch Government Securities. The latter three went to town on PCDF program.

Foreign Central Banks

Between December 2007 and October 2008, the Fed opened swap lines with foreign central banks so they could temporarily trade their currencies for dollars to relieve pressures in their own markets. Australia, Denmark, England, Japan, Mexico, Norway, South Korea, Sweden and Switzerland all made use of the arrangement. The European Central Bank tapped it most heavily.


UBS from Switzerland borrowed close to $75 billion from the U.S. It was the biggest foreign borrower from the CPFF, tapping the facility 11 times.

Bayerische Landesbank

Munich-based bank Bayerische Landesbank borrowed $7 billion from the TAF in December 2008.

BNP Paribas

The bank borrowed billions from the PDCF and TSLF facilities in over 60 transactions.

Barclays Capital

British Barclay's borrowed almost $50 billion.

Shinhan Financial Group

The Seoul-based bank borrowed $100 million from the TAF in February 2010.

Of course that was just a sampling of the companies who got bailed out...

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