Bailout watchdog: Treasury overpaid

[Bindare_Dundat]

Government's assets acquired in the financial sector bailout are worth less than what they initially paid for them, according to an oversight official.

The Treasury Department overpaid for the assets it purchased as part of the $700 billion financial sector bailout, according to testimony that a bailout oversight official is set to make before Congress on Thursday.

At a Senate Banking Committee hearing, Elizabeth Warren, head of the Congressional Oversight Panel, is set to testify that the more than $254 billion in assets that the government purchased in 2008 are worth just $176 billion - $78 billion less than what Treasury paid for them

[Soul Crusher]

Government's assets acquired in the financial sector bailout are worth less than what they initially paid for them, according to an oversight official.

The Treasury Department overpaid for the assets it purchased as part of the $700 billion financial sector bailout, according to testimony that a bailout oversight official is set to make before Congress on Thursday.

At a Senate Banking Committee hearing, Elizabeth Warren, head of the Congressional Oversight Panel, is set to testify that the more than $254 billion in assets that the government purchased in 2008 are worth just $176 billion - $78 billion less than what Treasury paid for them

This is the heist of the century.

[War-Horse]

Its all "printed" money anyway.   Its like a monopoly game...its not real. 

 These debts will have to be "Forgiven" and "Forgotton"  so that the NWO can step in and collectivelly save our own asses by setting up a new monetary source thru global efforts.    Just watch and see......

[shootfighter1]

What?  This is why we can't trust more of our money to the government...please people wake up.  Smaller government has always been better in this country.  Gov is too big and too much bureacracy to be efficient.  Let it do what our founding fathers designed it to do (with some updates that apply to the current age of course)

[Straw Man]

This is the crux of the problem for the banks to begin with.

They all own this shit (CDO's, SIV's etc..) and no one knows what they are really worth so they don't know how to value them on their balance sheet and no one wants to buy them for the same reason.

[Soul Crusher]

This is the crux of the problem for the banks to begin with.

They all own this shit (CDO's, SIV's etc..) and no one knows what they are really worth so they don't know how to value them on their balance sheet and no one wants to buy them for the same reason.

This is why we never should have done TARP.

[Saxon]

Maybe I am getting confused but wasn't the point that the Government was actually meant to over pay for these assets  (or was that just an idea floated about...)

[Straw Man]

Maybe I am getting confused but wasn't the point that the Government was actually meant to over pay for these assets  (or was that just an idea floated about...)

that was the original plan - but they've changed the plan so many times it's hard to keep track.