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Join Date: 27 Apr 2010
Location:  KuwaitPosts: 303 |
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Lower bailout estimate assumes higher stock prices |
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The Treasury Department indicated Friday it expects taxpayers will lose billions less from the financial bailouts than earlier estimated. The problem is, its revised forecast assumes Treasury's shares of bailed-out companies are gaining value despite this week's plunge in stock prices.
Treasury predicts the bailouts will cost taxpayers $105.4 billion, according to a letter to lawmakers from Assistant Secretary Herb Allison. That's down $11.4 billion from a February projection by the Obama administration. |
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