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Loan Modification
: Mortgage Lender Implode-o-MeterBehind Administration Spin: Bailout Still $123 Billion in the Red
By Implode-Explode Heavy Industries
The administration has been on a PR offensive in recent months to tell the good news about the TARP. As the Treasury Department official in charge of the TARP is saying at a congressional hearing this morning, the bailout won't cost anywhere near the full $700 billion Congress authorized. In fact, many of its investments have turned a profit, and some of its most infamous bailouts -- such as the rescue of AIG -- won't end up being the tax dollar black holes they once seemed sure to be.
But the true picture isn't so rosy.
Full post as published by Mortgage Lender Implode-o-Meter on March 18, 2011 (boomark / email).
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