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BofA Bailout Warrants May Draw $1.3 Billion in U.S. TARP Sale

By Implode-Explode Heavy Industries

"The Treasury is under pressure to get higher prices for warrants it holds in bailed-out lenders. Congress said early buybacks shortchanged the U.S. when the Treasury sold warrants for 66 percent of their fair value. The agency got the warrants from companies that took money from the Troubled Asset Relief Program to compensate taxpayers for investing during the worst of the credit crisis."

Full post as published by Mortgage Lender Implode-o-Meter on December 11, 2009 (boomark / email).