Nice Job, The Tarp: $64 Billion In The Hole

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Nice Job, The Tarp: $64 Billion In The Hole

By David Spurr on January 17, 2009 | More Posts By David Spurr | Author's Website

The Wall St Journal is reporting that the first 3rd of the TARP is $64 billion in the hole already. The assets have declined in value; the loss of $64 billion is the difference between what the government paid for the assets or amounts lent to firm and the current market value of the transactions. It took Bernie Madoff years to lose $50 billion, but the US government did it in less than 6 months.

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