Bailing Out the Rich

The U.S. Treasury Department has doled out nearly $2.5 billion in bailout money to banks that focus heavily on managing assets for the richest Americans.

A review of bank records by Condé Nast Portfolio shows that money under the Troubled Asset Relief Program went to the banks even though they had little or no exposure to subprime mortgages or other toxic assets.

This article should be subtitled, "keeping wealth safe".