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Economic Report:

A congressional oversight panel informed the U.S. Senate Banking Committee on Thursday that the U.S. Treasury may have overpaid as it invested portions of the $700 billion into financial institutions. A full report will be released today. The panel found that the Treasury Department spent $254 billion for assets worth $176 billion. Sen. Richard Shelby of Alabama called the Treasury’s funding decisions “haphazard,” “opaque,” and “disingenuous.”