Three States Get 66 Percent of Bailout

Where does the bailout money really go?

The Atlantic reports that the bailout is massively concentrated in just a few states.

Total bailout funding, according to the ProPublica data, is $476.5 billion to date. One state, New York, has captured $175 billion of that, more than a third. Michigan is next with $80.7 billion or 17 percent of the total, followed by North Carolina with $56.3 billion, Virginia with $54.9 billion, and California with $34.4 billion.

The top three states accounted for 66 percent of bailout spending; the top five 84 percent; and the top two more than 10 percent.

See the bailout map here.

-