February 10th, 2009 by Reed Allmand 
According to an article in the Star-Telegram, government officials "overpaid tens of billions of dollars for stocks and other assets in its massive bailout last year of Wall Street banks and financial institutions."
The article said:
The Congressional Oversight Panel, in a report released Friday, said last year’s overpayments amounted to a taxpayer-financed $78 billion subsidy of the firms. Financially failing insurance giant American International Group, which the Treasury Department deemed to be too big to be allowed to fail, received $40 billion from the Treasury for assets valued at $14.8 billion, the oversight panel found.
That’s a huge oversight. Certainly the financial powerhouses who nickel and dime assistance to homeowners were able to figure out the gaping $78 billion hole in the banker bail out. While millions of Americans face foreclosure and bankruptcy, our government officials erroneously hand out, $40 billion extra dollars to AIG, a bankrupt institution. Is this about to happen again? Many industries that rely on a robust and active credit market (automakers, commercial realtors, airlines etc.) are hoping to get their own bail out. But the real question is when will the American taxpayer be thrown a lifeline to save him/her from forclosure and financial disaster? The answer is that a bail out for homeowners facing foreclosure and other financial difficulties may be long overdue and still long coming.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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