29 Companies Have More Cash than the U.S. Treasury

[amborin]

29 Companies Had More Cash Than The U.S. Treasury As Of July 13

By Marie Diamond posted from ThinkProgress Economy on Jul 18, 2011 at 10:46 am

As of July 13, 29 public companies had more cash on hand than the U.S. Treasury Department, according to the site Zero Hedge based on numbers from Capital IQ. It’s a stark reminder that if Congress refuses to raise the debt ceiling, the government won’t have nearly enough money to continue funding essential services and programs.

In the first half of July alone, Treasury cash balances were depleted from from $130 billion to just $39 billion. That means the most powerful nation on earth currently is tied with Google for the amount of cash that it has, and is less flush than Bank of America, JP Morgan Stanley, and Goldman Sachs, among others.

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http://thinkprogress.org/

[RaleighNCDUer]

1. Look at that, way down at the bottom - Goldman Sachs.

No wonder they try harder.

[aquart]

2. That bodes ill.

What terrible policies created such a mess.

[Rex]

3. Wow, I thought GS was a bigger fish then that!

Thought they were around the JPMorgan range. Looks like China has the top honors...and owns our debt, yikes...

[dixiegrrrrl]

4. That's because Treasury GAVE those companies OUR cash.

And people are still "wondering" if there is an intentional plan to crash this economy.

"Washington DC: 61.4 square miles surrounded by reality."

[ixion]

5. exactly

:grr: