Jul 21 2009
Bailout Risk Almost $24 TRILLION?!?!
Yup, that’s right. According to Neil Bartofsky, the Special Inspector General assigned to monitor TARP, the total financial liability of the government (taxpayers) is $23.7 Trillion dollars. Also in his findings is that the government should be requiring reports from all of the bailout recipients. The government has currently requested reports only from 3 recipients. The investigators did report that when they asked the companies for information, they were all very cooperative and helpful. But how many more bureaucracies do we need to ask these questions. If treasury is giving them money, shouldn’t treasury be asking these questions themselves? Read more here.
