Friday, February 6, 2009
The top investment in 2008 was...
Feb 5 11:32 AM US/Eastern
By JIM KUHNHENN
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.