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TARP Watchdog: 2011 $300 Billion Commercial Real Estate Time Bomb by: Edger Fri Feb 12, 2010 at 03:01:12 PST ( - promoted by buhdydharma ) Wednesday's report from the Congressional Oversight Panel makes it very clear that while things may feel relatively stable right now on the commercial real estate front, the real bomb hits in 2011. Banks could lose $200 - $300 billion, and 'every American' could be affected: The full force of the commercial real estate problem will be felt over the next three years and beyond, according to the panel's February assessment, which means it starts to get worse starting today. Download .pdf here (189 pages) There's More... :: (6 Comments, 12 words in story)

Treasury Plans to Outsource the Entire $700 Billion Bailout by: Magnifico Tue Oct 07, 2008 at 12:20:55 PDT (9 am. - promoted by ek hornbeck) There are a couple of stories regarding the $700 billion bailout today that really should raise the eyebrows of Americans who have lived through and witnessed the Bush years. Especially taking into consideration the over-reliance on private contractors, financial mismanagement, and loose accounting practices in Iraq and elsewhere with taxpayer money that have been a hallmarks of the Bush administration. The NY Times reports Treasury sets timetable to pick managers. "The Treasury Department put its $700 billion bailout on a fast track on Monday, asking companies to submit bids for running the system by Wednesday and announcing its plan to select winners on Friday." Yes, the Treasure Department will take only one day to review bids before awarding contracts. Hey, at least Treasury Secretary Henry Paulson didn't just announce no-bid award to, say, Paulson's old company, Goldman Sachs. See if this sounds familiar — Administration officials plan to outsource almost the entire project, which will largely rely on "reverse auctions" in which the government accepts bids from financial institutions that want to sell their troubled assets. The Treasury said it intended to hire one company as a "financial agent" to set up the basic system, which would include running the auctions, keeping track of the various portfolios and overseeing all the operational issues. There's More... :: (13 Comments, 698 words in story)