Overpayments on Bailouts Run Rampant

The following AP article demonstrates the degree of overpayment to banks and insurance companies from last fall's bailout.

http://news.yahoo.com/s/ap/20090206/ap_on_go_ca_st_pe/bailout_oversight


$78 Billion in overpayments, according to the Congressional Oversight Panel report found here:

http://cop.senate.gov/documents/cop-020609-report.pdf

This includes a $40 Billion handout to AIG on $14.8 Billion in assets.

Bush, Paulson, and friends pushed this, but there is no doubt about the complicity of Democrats in the process.

We must do better in putting the mechanisms in place to drastically change our government, its procedures, and its oversight.