News and Politics | February 06, 2009 | 14 comments

Treasury Overpaid Wall Street $80 billion of TARP

source: http://washingtonindependent.com/29257/the-80-billion-mistake

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bansheewail
In efforts to stabilize troubled banks, the Treasury Department overpaid those institutions by nearly $80 billion, the head of a bailout oversight panel told lawmakers Thursday.

Elizabeth Warren, who chairs the congressional panel overseeing the Troubled Asset Relief Program, said Treasury officials chose not to risk-adjust the government’s investments in troubled banks, instead paying “a uniform price” regardless of each bank’s health. As a result, she estimates, taxpayers have spent $254 billion on capital investments worth just $176 billion — a difference of roughly $78 billion.

-File this one under: "Oh, my F*cking God", "Holy F*cking Sh*t" or "You have got to be kidding me."
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14 comments // Treasury Overpaid Wall Street $80 billion of TARP

  • Scarabus
    • 0
      Scarabus  

    • Hey, I'm a big supporter of small business. I work actively to buy locally and encourage others to do so.

      But I'm not sure what you mean. Tell Frank and Dodd you will no longer tolerate what they're doing, or tell them that you support their efforts to change the policies that have been crippling you.

      Seriously! Not snark.

    • 3 years ago
  • carmalite
    • 0
      carmalite  
    • Scarabus:

      I too am a big supporter of small business! That is how my dad mad he momey. I intend to lobby to ask for more help for small business. While the Bush adm was in offfice it too funds that went to small business and sent it to big business. Small busines is the engine of American economy.

      Big box montsers have really harmed small business and the giant elephant in the room GLOBLAZATION has harmed small business. We need to form a grass roots organiztion for small business. BTW we don't show at big boxes.

      I will do all I can to lobby for small busines.

    • 3 years ago
  • RHDEK
    • 0
      RHDEK  

    • We small business owners need tyo stop sending in our 941 witholdings and send the likes of Barney Frank and ChrisDodd a message that
      WE ARE TIRED OF THIS CRAP AND WE ARE NOT GOING TO TAKE IT ANY MORE!!!

    • 3 years ago
  • carmalite
    • 0
      carmalite  
    • RHDEK:

      Yes. The small business owners need to march on Washington.
      During the Bush administration the Small Business administration gave loans that were supposed to go to small businesses to really large ones. They favored the large businesses over the small ones. When I saw that report, it really made me angry.

    • 3 years ago
  • smallgod
    • 0
      smallgod  

    • why doesn't someone, or a group of people, with (an) incurable disease(s) like aids or inoperable cancer go in and just blow these people to hell? I used to think that this idea was too radical, but not anymore...it actually seems pretty tame to me considering what these FUCKS are doing to all of us.

    • 3 years ago
  • Bren589
  • Talisman
    • 0
      Talisman  

    • WTF!!!!! I am just so sick of this shit!!!!! We're being hurt more and more every time we turn around, while they lounge around in their expensive homes drinking out of their crystal glasses without a care in the world...while others are losing their homes, taking their lives, can't pay their bills...when will this stop????

    • 3 years ago
  • frady
    • 0
      frady  

    • Obama left the outrageous $18,000,000,000 in Wall Street bonuses intact a couple of weeks ago. Is he going to let this new outrage stand? We need him to be more than angry for us; we need him to TAKE our money back, or at least make a good faith effort to get it returned. Fight for us Mr. President!

    • 3 years ago
  • unclematt
  • carmalite
  • SHAWN_RITTIMAN
  • Scarabus
  • bansheewail
  • carmalite
    • 0
      carmalite  
    • bansheewail:

      Now busses full of forclosed homeowners are showing up at the CEOs of the banks homes and the police are helping them because some of them are in the same situation.
      People are getting angry at these parasites and its about time.

    • 3 years ago
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