Making deals for the taxpayer

Another indication of the Treasury's difficulties in managing our money well is highlighted by Linus Wilson's discussion of the repurchase of warrants granted by Old National Bank in exchange for TARP money. Wilson thinks that the warrants were worth between $1,500,000 and $6,900,000. How much did Treasury accept for them? $1,200,000. If Wilson is right - and at least James Kwak thinks he is - we lost at least $300,000.