Friday, February 6, 2009

The top investment in 2008 was...

Feb 5 11:32 AM US/Eastern
Associated Press Writer

WASHINGTON (AP) - 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.

From Felix's blog

Feb 6 2009 11:13AM EST

The Center for Responsive Politics does some adding up, and concludes that the 300 TARP recipients between them spent a total of $77 million last year on lobbying, on top of $37 million in federal campaign contributions, for a total of $114 million.

No comments: