Thursday, February 05, 2009

Obama Paid $76 B Too Much For Stock, But Not A Dime For Families

Watchdog: Treasury overpaid for bank stocks
A government watchdog group says the federal government overpaid for stocks and other assets from financial institutions under its $700 billion rescue program.

The chairwoman of the Congressional Oversight Panel for the bailout funds told the Senate Banking committee Thursday that Treasury in 2008 paid $254 billion and received assets worth about $176 billion.

The figures were reached by extrapolating the results of a study of 10 government transactions.

They haven't cleaned up the last mess and right now 16 senators are closeted behind closed doors, where voters can't see or hear what they're doing, deciding how to spend the next trillion dollars. And because it is so important and needs so much consideration and thought, they want to pass the 'stimulus' package by tonight. Fast thinkers, they. Faster talkers.

Way to go Congress. You are hellbent on screwing up big time.