The Bush administration overpaid tens of billions of dollars for stocks and other assets in its massive bailout last year of Wall Street banks and financial institutions, a new study by a government watchdog says.
The Congressional Oversight Panel, in a report released Friday, said last year's overpayments amounted to a taxpayer-financed $78 billion subsidy of the firms.
The findings added to the frustrations of lawmakers already wary of the $700 billion rescue plan, known as the Troubled Asset Relief Program. Congress approved the plan last fall, but members of both parties criticized spending decisions by the Bush administration and former Treasury Secretary Henry Paulson.
News and Views for Tulsa's Reality-Based Community: Ideas, Politics, Letters, Art, Environment
Saturday, February 7, 2009
Bush Incompetence Lives! U. S. Overpaid for Wall Street, Bank Assets
Read it and weep: More evidence that Bush and his team were clueless when they weren't incompetent. From the AP this week:
Subscribe to:
Post Comments (Atom)
1 comment:
its very nice blog ,
i got great information from this blog
thanks ,,
___________________
victor
Free HD DVR Receiver Upgrade
Post a Comment