Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (2 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   No comments

TARP Profit A Myth, Claims TARP Inspector General Christy Romero

Quicklink submitted by Amanda Lang     Permalink
Related Topic(s): , Add Tags

View Ratings | Rate It

opednews.com Headlined to H3 4/25/12

Become a Fan
  (9 fans)
Image from a quicklink Contrary to the Obama administration's claims, the bank bailout has not turned a profit for the U.S. government and may never turn a profit, according to a grim new assessment by the bailout's watchdog.

Even by non-financial standards the bailout has been less than a roaring success and may be helping to lay the groundwork for future financial disasters and bailouts, writes Christy Romero, the Special Inspector General for the Troubled Asset Relief Program, in her latest quarterly report to Congress, released Wednesday morning.

"It is a widely held misconception that TARP will make a profit," she writes right at the top of her 327-page report. "The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost)."

Read the rest of the story HERE:

At www.huffingtonpost.com

- Advertisement -
- Advertisement -

 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments