Saturday, October 3, 2009

TARP: Taxpayers on the hook for $200 billion

This is a very interesting article about the effects of the so called "glorious" stimulus package. Originally created during the Bush administration, the $700 billion package was supposed to used to buy struggling banks' assets to be an investment but has been used for many other things like bailing out AIG, automakers and struggling homeowners. Financial experts estimate a $100 billion to $200 billion lose to the Treasury, or in other words money that the tax payers will have to dish out. This article has a detailed break down of where the stimulus package is being spent. 

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