Treasury Department paid $254 billion for $176 billion of assets

Today Elizabeth Warren, chairwoman of the Congressional Oversight Panel examining the Troubled Asset Relief Program, or TARP, testified with some bad news for taxpayers: “Treasury paid substantially more for the assets it purchased under the TARP than their then-current market value."

But that's good news for Wall Street firms. Now we know how they managed to pay out billions in bonuses.

“In the rush to do something, it isn’t always justified or wise simply to do anything."
- Elizabeth Warren commenting on the $76 billion gone missing.