News and Politics | February 05, 2009 | 6 comments

Treasury overpaid $78 billion under TARP

source: http://uk.reuters.com/article/ousiv/idUKTRE5140SN20090206

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Kepano
The U.S. Treasury looks to have overpaid financial institutions to the tune of $78 billion in carrying out capital injections last year, the head of a congressional oversight panel for the government's $700 billion bailout program told lawmakers on Thursday.

Elizabeth Warren, a Harvard law professor, said her group estimated the Treasury paid $254 billion in 2008 in return for stocks and warrants worth about $176 billion under the Troubled Asset Relief Program, or TARP.

This smells like more corrupt leadership? More Bush Administration Corruption Charges?
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6 comments // Treasury overpaid $78 billion under TARP

  • unimatrix0
  • NoGodsNoMasters
  • subsecret
  • pjacobs51
  • Incredulous
    • 0
      Incredulous  

    • nice photo...but nonetheless, I am seriously fed up with the fact that no media ANYWHERE is willing to comment on the fact that TRILLIONS of dollars have gone to the DOD and their defense contractors.

      What the hell people? All of this continuing focus on the billions in economic bail out, and those pompous Republicans trying to play the self-righteous card as they argue against a stimulus package to help the middle class are the ones who voted to funnel TRILLIONS to defense contractors. Why is this not an issue with the American people?

      What's the difference between a million, a billion, a trillion? (http://www.tysknews.com/Depts/Taxes/million.htm)

      A million seconds is 12 days.
      A billion seconds is 31 years.
      A trillion seconds is 31,688 years.

      A million minutes ago was – 1 year, 329 days, 10 hours and 40 minutes ago.
      A billion minutes ago was just after the time of Christ.

      A million hours ago was in 1885.
      A billion hours ago man had not yet walked on earth.

      A million dollars ago was five (5) seconds ago at the U.S. Treasury.
      A billion dollars ago was late yesterday afternoon at the U.S. Treasury.

      A trillion dollars is so large a number that only politicians can use the term in conversation... probably because they seldom think about what they are really saying. I've read that
      mathematicians do not even use the term trillion!
      Here is some perspective on TRILLION:

      Trillion = 1,000,000,000,000.
      The country has not existed for a trillion seconds.
      Western civilization has not been around a trillion seconds.
      One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.

      Million: 1,000,000
      Billion: 1,000,000,000
      Trillion: 1,000,000,000,000

    • 3 years ago
  • justright
  • VTJimO
  • DouginLA
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