Thursday, February 05, 2009
Elizabeth Warren, chairwoman of the Congressional Oversight Panel for the bailout funds, told the Senate Banking Committee on Thursday that Treasury in 2008 paid $254 billion and received assets worth about $176 billion. (...) Referring to overpayment on assets, Warren said Treasury has failed to specify its goals and methods in helping more than 300 institutions. "There may be good policy reasons for overpaying, but without a clearly delineated reason, we can't know that," Warren said. Senate Banking chairman Christopher Dodd, D-Conn., said the overpayment was sure to "raise eyebrows." "I can understand some gap," he said. "No one is expecting perfection between the price you pay and what you think you're getting. But that's a pretty large disparity."