Friday, November 06, 2009
"Geithner 'Burned Billions' And Shafted Taxpayers..."
Government at work spending (wasting our money).
This is NOT pocket change! This IS irresponsible.
Government officials are absolutely the worst stewards of our tax dollars...
This is NOT pocket change! This IS irresponsible.
Government officials are absolutely the worst stewards of our tax dollars...
Henry Blodget writes at BusinessInsider.com:
"But here's the bad news: While senior debt holders will only lose 30% of their investment, we, the U.S. taxpayer, will lose the entire $2.3 billion we lent the company this summer.
William Black, professor at the University of Missouri-Kansas City School of Law is dumbfounded. 'We put ourselves on the hook in a completely inept way where we lose first. We lose entirely as the taxpayers.'
Black, a former top federal banking regulator, blames Treasury Secretary Timothy Geithner for negotiating such a bad deal on behalf of the American public."
