The Treasury Department has had a tough time selling off some of the stock it took on in exchange for TARP bailout funds, meaning taxpayers are still on the hook for some $132.9 billion—some of which they may never get back, according to a report released today by the government watchdog overseeing the program. Selling the stock has been complicated by swingy stock market prices, and deep dips in some of the bailed out companies, the AP reports.
Treasury is trying not to lose money on any of the investments, but that'll be tough—it'll have to get $28.73 per share for AIG and $53.98 per share for GM, for example, a daunting prospect since the two closed at $25.31 and $24.92 respectively yesterday. "TARP is not over," said the acting inspector general for the program, promising that his office would watch it until it was. (Read more Treasury Department stories.)