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Author Topic: Taxpayers stand to lose $27B in bailout, watchdog says Back to Topics
Tacodan
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Cincinnati

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Message Posted: Jan 30, 2013 7:11:02 AM

A government watchdog says U.S. taxpayers stand to lose $27 billion from the 2008 financial bailout, up from an estimate of $22 billion made in the fall.
A report issued Wednesday by the special inspector general for the Troubled Asset Relief Program says the estimate is higher because of increased losses for the Treasury Department on sales of shares in bailed-out companies.
Ally Financial, the former financial arm for General Motors, still owes $14.6 billion of the $17.2 billion in aid it received. The report says taxpayers can expect to lose $5.5 billion on that investment because of the company's losses on risky mortgages issued ahead of the financial crisis.

Visit Associated Press for full article
REPLIES (newest first) Post a Reply
DrCashFlow
Champion Author Massachusetts

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Message Posted: Jan 31, 2013 2:50:06 AM

number will end up being a lot higher than $27 bil
NedW
Champion Author Indianapolis

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Message Posted: Jan 31, 2013 2:30:51 AM

TARP under Bush was bad, too, PDQBlues, just like the Patriot Act and the Military Commissions Act. But Barry Soetoro is president now with his QE programs and total disregard of the constitution and he deserves all the boos and hisses he gets. Trashing the country is trashing the country no matter who you are.
PDQBlues
Champion Author San Diego

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Message Posted: Jan 30, 2013 5:49:32 PM


drpepperTX: Thanks for nothing Obammy!

Try actually reading the article, Sherlock. 2008 and TARP were cursed upon the nation during the Bush administration. Obama was still running for president.

And yes, giving banks all that taxpayer money cost the nation dearly.
PathfinderSC
Champion Author South Carolina

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Message Posted: Jan 30, 2013 11:56:46 AM

Who trust the Government these days to tell you the truth??
drpepperTX
Champion Author Texas

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Message Posted: Jan 30, 2013 9:20:46 AM

Thanks for nothing Obammy!
bar1035
Champion Author Charlotte

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Message Posted: Jan 30, 2013 9:17:30 AM

Taxpayer are losing a heck of a lot more than 27B
mastermariner
Champion Author Texas

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Message Posted: Jan 30, 2013 9:17:24 AM

Surprise, surprise
Skunk63
Champion Author Phoenix

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Message Posted: Jan 30, 2013 9:11:07 AM

Is it still all Bush's fault? Obama's hands are clean. He's got spending and government programs totally under control.
txequitygas
Champion Author Houston

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Message Posted: Jan 30, 2013 8:47:34 AM

At least, now the Demorats have stopped saying everyone should be able to get a home loan..
humblepie
Champion Author Toledo

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Message Posted: Jan 30, 2013 8:45:54 AM

gm and obama what a team for america
GingoutMD
Champion Author Maryland

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Message Posted: Jan 30, 2013 8:28:30 AM

Both Ray Charles and Stevie Wonder could see this coming. Who ever thought we would break even or even make a profit on the bail out were clueless to reality and should up their meds!

On the other hand, we will never know what the damage would have been to the economy if we let all those firms go bankrupt.. it may have been better, it may have been worse or it may have been much worse...
Rockyguitar
Champion Author Tampa

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Message Posted: Jan 30, 2013 8:25:44 AM

That aint the whole story!!! More losses than that.
scu227
Champion Author New Haven

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Message Posted: Jan 30, 2013 8:23:54 AM

NO MORE BAILOUTS !!!!!
bsnort
Champion Author Huntsville

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Message Posted: Jan 30, 2013 8:21:54 AM

ray charles could see this coming.
Grizdad
Champion Author Montana

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Message Posted: Jan 30, 2013 8:21:12 AM

Figures. Does not take a rocket scientist to vote.
Nancy&Len
Champion Author Cleveland

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Message Posted: Jan 30, 2013 8:19:35 AM

It helped buy the clown another four years. Just wait and see what he plans for your pleasure this time.
sabre75
Champion Author Florida

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Message Posted: Jan 30, 2013 8:19:21 AM

ok
listerone
Champion Author Boston

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Message Posted: Jan 30, 2013 8:03:20 AM

The bailout of GM and Chrysler was meant to shore up the Marxists at the UAW.The Rat Party couldn't care less if *working* people take it in the shorts.
doeslayersr
Champion Author Illinois

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Message Posted: Jan 30, 2013 7:53:17 AM

Very sad, but no suprise. The problem is the dunderheads and doofuses who re-elected the Big O have no stake in this problem or no pony in this show because they do not pay taxes anyway.
Evilmaddog
Champion Author British Columbia

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Message Posted: Jan 30, 2013 7:44:21 AM

and don't forget the billions lost in green energy
Dennis783
Champion Author Des Moines

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Message Posted: Jan 30, 2013 7:39:19 AM

This can't be correct, during the campaign our prez and the Dems said that the bailouts were a success
brbts
Champion Author Charlotte

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Message Posted: Jan 30, 2013 7:37:24 AM

We all loose when the government wastes OUR money!
BigRedVTX
Champion Author Georgia

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Message Posted: Jan 30, 2013 7:36:19 AM

At issue is the fact that a., we allowed it to happen in the first place and b., we turned around and gave the administration a free hand a second time around.
gcalleja
Champion Author Miami

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Message Posted: Jan 30, 2013 7:31:56 AM

How unexpected!
werich44
Champion Author California

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Message Posted: Jan 30, 2013 7:24:05 AM

Be sure to thank king obama.
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