Bailout Is a No-Strings Windfall to Bankers, if Not to Borrowers - NYTimes.com

Most of the banks that received the money are far smaller than behemoths like Citigroup or Bank of America. A review of investor presentations and conference calls by executives of some two dozen banks around the country found that few cited lending as a priority. An overwhelming majority saw the bailout program as a no-strings-attached windfall that could be used to pay down debt, acquire other businesses or invest for the future.

Bailout Is a No-Strings Windfall to Bankers, if Not to Borrowers - NYTimes.com