It was about a year ago that we were covering the big financial services bailout plan known as “TARP,” for Troubled Asset Relief Program. See the post “Your Family’s $1,000 Bailout Bet on the Stock Market,” for example.
Here’s some news that shouldn’t surprise: The Inspector General for the TARP program calls it “unrealistic” to see [...]
WashingtonWatch.com has never been profitable. Maybe someday it will be, but there aren’t enough of you yet. And also, it’s not profitable because of the downturn in the economy.
Why do I say that? Because the Washington Post is reporting that the Obama administration plans to give bailout funds to millions of small businesses.
The [...]
We’re overdue here to discuss the big announcement this past week about how the government plans to sort out the “toxic assets” that have been preventing new lending and slowing down the economy.
Now, first things first: “toxic assets,” which were first referred to as “troubled assets,” will now be called “legacy assets.”
See? Things [...]
Everyone’s abuzz about the bonuses being paid out to AIG employees, some reaching above $1 million.
And Congress is there on the case, chasing down the money that . . . it is responsible for putting out there in the first place.
(Yes, yes, AIG money was a loan from the Fed, not TARP – [...]
The Government Accountability Office has a report out on the financial services bailout law and the Troubled Asset Relief Program, or “TARP.”
As of January 23, the Treasury Department has disbursed about $293.7 billion, mostly to purchase preferred shares of 317 financial institutions. That’s a bit over $3,000 per U.S. family, just shy of $1,000 [...]
Cost estimates for bills on the floor this week have been published and incorporated into our database.
H.R. 384, the TARP Reform and Accountability Act of 2009, saves the average U.S. family a little over $80. (Which is nice until you realize that the legislation creating the Troubled Assets Relief Program cost almost $3,000.)
It was debated [...]
“[T]roubled assets from any financial institution.” That’s what the financial services bailout bill allowed the Treasury Department to buy: “troubled assets from any financial institution.” They were talking about bad mortgages.
But then the money got used to buy pieces of financial institutions themselves. Some Members of Congress raised a stink when word circulated that [...]
I continue to be impressed by the number of bills being introduced to amend the big financial services bailout program known as the “Troubled Asset Relief Program,” or “TARP.”
We discussed some of this earlier in a post called “Ready, Vote, DEBATE!” But here are all the current bills that have “Troubled Asset Relief [...]
Six weeks since Congress approved the financial services bailout legislation, the administration has committed $290 billion of the $700 billion Congress gave it to work with.
Originally intended for purchasing troubled mortgage assets, it has instead been used to purchase shares of troubled firms, and it may soon be used for automakers and heaven [...]
The U.S. government is modifying its rescue of troubled insurer AIG so that it will take $40 billion in stock. Meaning: Your investment in AIG is about $130. The average U.S. family is invested to the tune of about $400.
That’s in addition to the $1,000-per-family plunked down earlier on financial services companies.