Not All Bailed Out Banks Are Doing Well

Take OneUnited. The bank received $12,000,000 in federal bail-out funds through the offices of Barney Frank and Maxine Waters (who, by the way, faces ethics charges in part because of her dealings with OneUnited.) Two years later, assets have dropped by 18% and loans by 13%. The bank has missed six dividend payments to the Treasury.The bank is running at a loss despite failing to build reserves against possible loan losses.

It is the country's largest minority-owned bank, but it doesn't do much for its potential customers. Since getting TARP money, the bank has written less than six mortgages in Greater Boston.Other community banks have written hundreds.

For more background on One United, click here.