"ALL CAPS IN DEFENSE OF LIBERTY IS NO VICE."

Friday, February 06, 2009

ALREADY, THE U.S. TREASURY HAS OVERPAID ON THE BAILOUT BILL

Why isn't this on the front page of today's Washington Post?
The Bush administration received assets that were worth $78 billion less than the amount it invested as part of the massive infusion of capital into the country's banks, congressional investigators have found.

The investigators concluded that the Treasury under the federal bailout had invested $254 billion into companies but the preferred stock it got in return had a market value at the time of only $176 billion, or 69 percent of what the government paid, according to a congressional oversight panel report scheduled to be released today....
So much for the reassurances offered by our politicians when that first bailout was legislated!

Nevertheless, all that BHO and his Dem sheeple keep harping on is the passing of another bill several times the taxpayer funding of the first bill.

3 comments:

Anonymous said...

Yep. Zero-Bungler got elected because Bush was so financially irresponsible, and now the Dems are gonna fix it by, ....being much more financially irresponsible. I guess their criticism, then, was that Bush didn't go far enough?

Always On Watch said...

Ytba,
That's about it.

I did my fair share of complaining about GWB during his last term. But BHO is going to make GWB look much better in just a few short months if I don't miss my guess.

Reliapundit said...

SICKENING.