PNC Bank

House Passes 90% Wall Street Bonus Tax Amidst AIG Hysteria

The House yesterday approved a 90% Wall Street bonus tax on a 328-93 vote. Below are excerpts from a WSJ report: The House measure was approved on a 328-93 vote and would impose a 90% surtax on bonuses granted to employees who earn more than $250,000 at companies that have received at least $5 billion

PNC Buys National City For $5.2b Using Treasury Funds

PNC Bank is showing other banks the advantages of capital infusion component of the Treasury’s TARP plan. They’re buying National City Bank for $5.2b which, it can be argued is fully-taxpayer funded since PNC received $7.7b in Treasury’s first round of bank re-capitalizations. This is exactly what Treasury wanted to happen: for banks to take