Thursday, February 05, 2009

Hank Overpaid By 30%

The Congressional Oversight Panel reveals that Treasury overpaid the banks that received bailout funds by 30%, based on their then-current market values.  Oops.  I'm sure this was just an innocent mistake...a series of clerical errors, perhaps.  Considering that Pentagon procurement officials have been tried for overpaying for hammers, how long before someone suggests indicting Mr. Paulson, a once and potentially future investment bank chief, on corruption charges for overpaying banks to the tune of $80 billion?  I guess I just did.

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