http://dailytimes.com/wire.lasso?report=/dynamic/stories/B/BAILOUT_OVERSIGHT
Watchdog: Treasury overpaid for bank stocks
Elizabeth Warren, chairwoman of the Congressional Oversight Panel for the bailout funds, told the Senate Banking Committee on Thursday that Treasury in 2008 paid $254 billion and received assets worth about $176 billion.
“Watchdog: Treasury overpaid for bank stocks
Elizabeth Warren, chairwoman of the Congressional Oversight Panel for the bailout funds, told the Senate Banking Committee on Thursday that Treasury in 2008 paid $254 billion and received assets worth about $176 billion.”
Isn’t that the point? Actually the ‘bailout’ amount is thus only $80 billion .... not that the Govt wont find away to blow away the $176 billion in asset values they have.
I know, whine about bonus pay, tell banks to make more uneconomic and dangerous loans, and pull the rug from under the mortgage CDO market by allowing homeowners easier ways to renege on their loan.... THAT WILL TURN THAT $176 billion INTO ZERO QUICKLY.