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.So much for the reassurances offered by our politicians when that first bailout was legislated!
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....
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:
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?
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.
SICKENING.
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