From the Boston Daily:

To date, the US Treasury has doled out $302 billion to 339 banks, auto companies, and insurance companies as part of the $700 billion bailout bill Troubled Asset Relief Program (TARP money). Ten banks in the Commonwealth have already received approximately $2.367 of the $350 billion that Congress has already approved. Of course, $2 billion of that is going to the ailing State Street Corporation.

Central Bancorp’s Chief Operating Officer tells Boston Daily, “For the past three or four weeks we’ve had ads in the Globe encouraging people to take out residential home loans, telling them that we have money to give out,” Morrissey says. “We’ve been vigorously pushing to supply people with money for home loans thanks to the TARP money.”

Say, that sounds suspiciously like what banks are supposed to do, especially when given our tax dollars. Of course, Central received only $10 million. That’s approximately .005 percent of the funds State Street received, where our calls were directed to an automated voice that directed us to visit their website if we had any vendor inquiries.

So if your looking for a loan go to Central Bancorp located at 399 Highland Ave., Somerville, MA. Phone number 617-628-4000.

Source: Boston Daily

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