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Pew Charitable Trusts Launches Federal Subsidy Tracking Website

Wondering which companies have been receiving federal subsidies – or as we more accurately term them, bail outs?  Wondering where AIG funneled all the federal bailout money they received? 

Well, wonder no more. 

Pew Charitable Trusts has launched a new website, subsidyscope.com,  dedicated to raising public awareness of federal subsidies.  Pew plans to build the searchable database industry sector by industry sector over the next few years.  For instance, you can find a listing of all the banks that have received bailouts, searchable by several different categories, including by state.  Several Florida banks are included on the list, including Coastal Banking Company in Fernandina Beach which received nearly $10 million in bailout funds back in December.  When completed, subsidyscope databases will contain information on direct payments made by government to businesses and individuals, tax breaks for corporations and individuals, and loan guarantees and other types of financial support.

In addition, Pew staff will also analyzing the data collected, looking for patterns and discerning trends. Based on their analysis, Pew will publish a regular series of major reports on sector subsidies.  These reports should make for some interesting reading in the near future.

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