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: Mortgage Lender Implode-o-MeterTARP Investigator: The Treasury Is Using Unusual And Misleading Accounting Practices To Hide TARP Losses
By Implode-Explode Heavy Industries
In an early October report, the Treasury approximated that taxpayers would lose just $5 billion on their investment in American International Group (AIG), a tiny fraction of the $182 billion bailout AIG was originally extended. But the New York Times reports that according to special inspector general for TARP Neil Barofsky, the Treasury has concealed $40 billion in losses on AIG alone.
Full post as published by Mortgage Lender Implode-o-Meter on October 26, 2010 (boomark / email).
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