National

Oct 21, 2009 10:23 AM by Associated Press

Watchdog says bailout helped but at a cost

The good news in a new government watchdog report is that the $700 billion financial industry bailout played a major role in rescuing the economy. The bad news is that the bailout may have cost the government credibility, sparking anger and distrust because of secrecy and confusion about the way it was handled.

The inspector general says saving the nation's financial sector came at great cost to taxpayers, to the integrity of the financial
system and to the public's perception of the federal government.
 
The blunt and mixed assessment comes from the special inspector general in charge of oversight for the bailout fund. It's being
released Wednesday, as the Obama administration takes steps to wind down and refocus the Wall Street rescue effort.

 

 

»Comments

»Topics in this article

More News

National
Story Photo

4 hours ago

3 Alarm Fire in Boston

Eleven people hurt tonight when an explosion, knocked a house off it's foundation in Boston, in the Dorchester area. It may have...

Weather - Forecast
Story Photo

14 hours ago

Rain & Snow On The Way

A Winter Weather Advisory is in effect from 6 PM tonight until 4 AM Thursday for Teller County, the Rampart Range (including...

Most Popular

Top Videos

1 2 3 4