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Author	Topic: Taxpayers stand to lose $27B in bailout, watchdog says	Post a Reply Back to Topics

Tacodan Champion Author Cincinnati Posts:2,336 Points:656,160 Joined:Apr 2011	Message Posted: Jan 30, 2013 7:11:02 AM Ignore Tacodan Report Abuse 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

Tacodan

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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

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DrCashFlow Champion Author Massachusetts Posts:7,079 Points:1,630,050 Joined:Jun 2008	Message Posted: Jan 31, 2013 2:50:06 AM Ignore DrCashFlow Report Abuse number will end up being a lot higher than $27 bil
NedW Champion Author Indianapolis Posts:5,625 Points:1,144,345 Joined:Mar 2008	Message Posted: Jan 31, 2013 2:30:51 AM Ignore NedW Report Abuse 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 Posts:7,084 Points:1,450,275 Joined:Jan 2009	Message Posted: Jan 30, 2013 5:49:32 PM Ignore PDQBlues Report Abuse 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 Posts:9,531 Points:1,833,565 Joined:Mar 2008	Message Posted: Jan 30, 2013 11:56:46 AM Ignore PathfinderSC Report Abuse Who trust the Government these days to tell you the truth??
drpepperTX Champion Author Texas Posts:8,955 Points:754,160 Joined:Apr 2011	Message Posted: Jan 30, 2013 9:20:46 AM Ignore drpepperTX Report Abuse Thanks for nothing Obammy!
bar1035 Champion Author Charlotte Posts:9,172 Points:1,300,170 Joined:Aug 2006	Message Posted: Jan 30, 2013 9:17:30 AM Ignore bar1035 Report Abuse Taxpayer are losing a heck of a lot more than 27B
mastermariner Champion Author Texas Posts:4,249 Points:495,675 Joined:Jun 2011	Message Posted: Jan 30, 2013 9:17:24 AM Ignore mastermariner Report Abuse Surprise, surprise
Skunk63 Champion Author Phoenix Posts:2,562 Points:560,245 Joined:Oct 2011	Message Posted: Jan 30, 2013 9:11:07 AM Ignore Skunk63 Report Abuse Is it still all Bush's fault? Obama's hands are clean. He's got spending and government programs totally under control.
txequitygas All-Star Author Houston Posts:804 Points:157,965 Joined:Dec 2012	Message Posted: Jan 30, 2013 8:47:34 AM Ignore txequitygas Report Abuse At least, now the Demorats have stopped saying everyone should be able to get a home loan..
humblepie Champion Author Toledo Posts:34,311 Points:2,374,295 Joined:Mar 2006	Message Posted: Jan 30, 2013 8:45:54 AM Ignore humblepie Report Abuse gm and obama what a team for america
GingoutMD Champion Author Maryland Posts:3,495 Points:713,305 Joined:Jan 2010	Message Posted: Jan 30, 2013 8:28:30 AM Ignore GingoutMD Report Abuse 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 Posts:2,572 Points:1,204,520 Joined:Sep 2008	Message Posted: Jan 30, 2013 8:25:44 AM Ignore Rockyguitar Report Abuse That aint the whole story!!! More losses than that.
scu227 Champion Author New Haven Posts:4,162 Points:773,830 Joined:Feb 2011	Message Posted: Jan 30, 2013 8:23:54 AM Ignore scu227 Report Abuse NO MORE BAILOUTS !!!!!
bsnort Veteran Author Huntsville Posts:434 Points:237,555 Joined:Aug 2012	Message Posted: Jan 30, 2013 8:21:54 AM Ignore bsnort Report Abuse ray charles could see this coming.
Grizdad Champion Author San Bernardino Posts:5,540 Points:785,825 Joined:Oct 2010	Message Posted: Jan 30, 2013 8:21:12 AM Ignore Grizdad Report Abuse Figures. Does not take a rocket scientist to vote.
Nancy&Len Champion Author Cleveland Posts:2,068 Points:1,948,740 Joined:Sep 2004	Message Posted: Jan 30, 2013 8:19:35 AM Ignore Nancy&Len Report Abuse It helped buy the clown another four years. Just wait and see what he plans for your pleasure this time.
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Jan 30, 2013 8:19:21 AM Ignore sabre75 Report Abuse ok
listerone Champion Author Boston Posts:3,390 Points:880,715 Joined:Aug 2008	Message Posted: Jan 30, 2013 8:03:20 AM Ignore listerone Report Abuse 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 Posts:9,127 Points:873,955 Joined:Dec 2010	Message Posted: Jan 30, 2013 7:53:17 AM Ignore doeslayersr Report Abuse 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 Posts:3,332 Points:959,500 Joined:Aug 2010	Message Posted: Jan 30, 2013 7:44:21 AM Ignore Evilmaddog Report Abuse and don't forget the billions lost in green energy
Dennis783 Champion Author Des Moines Posts:13,604 Points:2,705,835 Joined:Sep 2005	Message Posted: Jan 30, 2013 7:39:19 AM Ignore Dennis783 Report Abuse This can't be correct, during the campaign our prez and the Dems said that the bailouts were a success
brbts Champion Author Charlotte Posts:3,648 Points:777,340 Joined:Feb 2011	Message Posted: Jan 30, 2013 7:37:24 AM Ignore brbts Report Abuse We all loose when the government wastes OUR money!
BigRedVTX All-Star Author Georgia Posts:882 Points:505,005 Joined:Jun 2011	Message Posted: Jan 30, 2013 7:36:19 AM Ignore BigRedVTX Report Abuse 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 All-Star Author Miami Posts:924 Points:551,920 Joined:May 2011	Message Posted: Jan 30, 2013 7:31:56 AM Ignore gcalleja Report Abuse How unexpected!
werich44 Champion Author California Posts:1,867 Points:470,905 Joined:Jun 2011	Message Posted: Jan 30, 2013 7:24:05 AM Ignore werich44 Report Abuse Be sure to thank king obama.