Watchdogs: Government Overpaid for Wall Street Assets

Kevin G. Hall and Greg Gordon, McClatchy Newspapers: "The federal government overpaid by about $78 billion for stock and other troubled assets when it bailed out big banks last year, and it lacks sufficient internal controls to police and protect taxpayers' investment in the institutions, government watchdogs said Thursday. The new special inspector general for the bailout effort, formally called the Troubled Asset Relief Program, issued his first report Thursday and said that the Treasury Department needs to put more safeguards in place to protect taxpayers."

//www.truthout.org/020609K



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