From the Congressional Oversight Panel: "Today, February 6th, 2009, the Congressional Oversight Panel released its February Oversight Report, in which the Panel presents the results of a detailed, technical analysis of the value of Treasury's largest transactions under the Troubled Asset Relief Program (TARP). The report, entitled Valuing Treasury Acquisitions, concludes that Treasury paid substantially more for the assets it purchased under the TARP than the market value of those assets at the time the deal was announced. The Panel's analysis revealed that in the ten largest transactions made with TARP funds, for every $100 spent by Treasury, it received assets worth, on average, only $66. This disparity translates into a $78 billion shortfall for the first $254 billion in TARP funds that were spent."
The Congressional Oversight Panel report, "Valuing Treasury's Acquisitions," has been posted online.
Source: Reuters (6 February 2009). "Regulator Says Bailout Fund Is Misleading the Public." New York Times.
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