False Profits

Print Friendly, PDF & Email

A popular rationalization for the Republican and Democratic bailouts was that any losses to the taxpayers will probably be temporary and that the “government might actually make money.”

On October 21, the independent watchdog of the Treasury Department’s TARP program, Neil Barofsky, poured a bucket of cold water on this dubious claim. He found it “extremely unlikely” that the taxpayers will recoup their losses, much less make a “profit.”

Leave a Reply

Your email address will not be published. Required fields are marked *