The Top 10 Regions for Banking Bailouts

(MoneyWatch)  There's a new geography of financial woe and The New York Times has done a major service by putting it together in a revealing graphic.
It shows where, by city and banks, the first $335 billion tranche of the $700 billion bailout has gone. So far, $161.5 billion has been allocated, another $108.5 billion is pending, some $40 billion is going to American International Group and another $25 billion is committed.

Not all of the bailout money means it is going to institutions that have nearly failed but a lot of it is. No matter how one slices it, the bailout fund is the result of some very bad news.

Here's a breakdown by city and region:

1. New York. $148 billion with Citi taking $50 billion; AIG, $40 billion; and J.P. Morgan Chase, $25, with $10 billion each going to Morgan Stanley, Merrill Lynch and Goldman Sachs.
2. San Francisco. Back in the No. 2 spot with $25.1 billion, most of which is going to Wells Fargo.
3. Charlotte. $21 billion. Bank of American has $15 billion; SunTrust, $3.5 billion; and BB&T, $3.1 billion.
4. Minneapolis: $6.9 billion, with U.S. Bancorp. taking $6.6 billion.
5. Washington, D.C. $3.8 billion with Capital One taking $3.6 billion.
6. Atlanta, with $3.5 billion going to Regions Financial.
7. Cleveland. $2.5 billion with most going to KeyCorp.
8. Dallas, $2.3 billion going to Comerica.
9. Boston. $2 billion to State Street.
10. Chicago, $1.6 billion, mostly to Northern Trust.

For an even more compelling graphic, we should try to combine these figures with the nuymber of financial services jobs lost. Maybe next time.