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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on February 05, 2009, 07:38:49 AM

Title: Bailout watchdog: Treasury overpaid
Post by: Bindare_Dundat on February 05, 2009, 07:38:49 AM
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

Title: Re: Bailout watchdog: Treasury overpaid
Post by: Soul Crusher on February 05, 2009, 09:05:06 AM
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.
Title: Re: Bailout watchdog: Treasury overpaid
Post by: War-Horse on February 05, 2009, 09:25:02 AM
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......
Title: Re: Bailout watchdog: Treasury overpaid
Post by: shootfighter1 on February 05, 2009, 10:04:49 AM
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)
Title: Re: Bailout watchdog: Treasury overpaid
Post by: Straw Man on February 05, 2009, 10:28:07 AM
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.
Title: Re: Bailout watchdog: Treasury overpaid
Post by: Soul Crusher on February 05, 2009, 10:38:44 AM
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.
Title: Re: Bailout watchdog: Treasury overpaid
Post by: Saxon on February 05, 2009, 02:38:30 PM
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...)
Title: Re: Bailout watchdog: Treasury overpaid
Post by: Straw Man on February 05, 2009, 02:41:28 PM
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.