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- Treasury Earns 12% Return on First Few TARP Banks: Is That Enough?
- Banks that took Treasury TARP funding are eager to cut their ties to the program, in order to demonstrate their self-sufficiency, and regain full control of their institutions including how much they can pay the top brass. Eleven smallish banks have completely wound up their TARP participation, and the Congressional...
- Blog posts 2009-07-12
Additional Resources
- NBT Bancorp Elects to Not Participate in U.S. Treasury TARP Capital Purchase Program
- NBT Bancorp Inc. NBT (NASDAQ: NBTB) confirmed today that the company recently received a proposed allocation of funds under the U.S. Treasury Department's Capital Purchase Program. However, NBT Bancorp has elected to not take part in the program. "We are honored that the Treasury and our regulators have chosen...
- Research articles 2009-01-07
- TARP Inspector General Gives Program, And Treasury, Low Marks
- In his latest quarterly report card for the TARP program, released October 21, Special Inspector General Neil Barofsky provides a discouraging record. For the program itself, progress in spurring loan growth is slow, and in spite of news tidbits to the contrary, the return on taxpayers' investment has been poor....
- Blog posts 2009-10-21
- Unwinding the TARP: Is Treasury Leaving Money on the Table?
- The Treasury Department announced on June 10 that a select group of 10 banks are in sufficiently robust health to repay the $68 billion they received in the Capital Purchase Program CPP portion of the TARP. But for them, TARP's not over: the Treasury still holds warrants to buy the...
- Blog posts 2009-06-12
- Treasury's Kashkari Eyes TARP Contingency Funds
- By David Lawder WASHINGTON (Reuters) - Thousands of U.S. banks are waiting for federal investment dollars, but the Obama administration needs to set aside cash for "one-off" rescues of major institutions, the man who runs the Treasury's $700 billion bailout fund said on Tuesday. Neel Kashkari, who will stay on...
- News items 2009-08-07
- Time to Change GSEs' Deal with Treasury
- Derek Pilecki submits: Given Freddie Mac’s FRE recently reported profitable second quarter earnings, it is time for Treasury Secretary Geithner to amend the terms of Fannie Mae FNM and Freddie Mac’s Senior Preferred Stock Purchase Plan with the Treasury to be comparable to the preferred stock purchases the Treasury made...
- External links 2009-08-26
- Congressional Oversight Board Slams TARP
- A congressional panel is set to release a scathing criticism of the TARP tarp: WSJ: "The panel's initial concerns about the [Troubled Asset Relief Program] have only grown, exacerbated by the shifting explanations of its purposes and the tools used by Treasury," said the draft report, which found that the...
- News items 2009-08-07
- TARP Arm-Twisting Begins Again
- The effort to get the second half of the TARP approved (or more accurately, not force Obushma to nix a Congressional turndown) is all feeling a bit Groundhog Day-ish, without the backdrop of a Lehman collapse and AIG implosion to add a sense of urgency and high drama.The officialdom is...
- News items 2009-08-07
- A TARP Failure: CIT Files for Bankruptcy
- CIT Group Inc.'s holding company filed for Chapter 11 bankruptcy in New York on November 1, a move that was expected but which still constitutes one of the largest bankruptcies in U.S. history. The big lender had received $2.3 billion in December 2008 from the government under the Troubled Asset...
- News items 2009-11-02
- CIT to Qualify for $2.33B in TARP Funds
- Commercial finance company CIT Group Inc. expects to receive $2.33 billion from the Treasury Department under the Troubled Assets Relief Program TARP — a result of the Federal Reserve preliminarily approving its application to convert to a bank holding company. Specifically, CIT has converted CIT Bank of Salt Lake City...
- News items 2009-08-07
- Payback's Not a Bitch: 10 TARP Recipients Get Green Light to Repay $68 Billion to Treasury
- Whew -- that was fast! It took just eight months for ten of the nation's largest banks to repay TARP funds. That mid-September week after the collapse of Lehman Brothers seems like a lifetime ago, but it's worth recalling the intensity of that frightening period. As one...
- Blog posts 2009-06-09
- Taxpayer Trading Strategy: Short FDIC Long TARP
- The FDIC insurance fund that's intended to protect over $6 trillion of depositor assets, has dropped to the lowest level since the savings and loan crisis in 1993. That's not actually surprising or all that scary. Any of us could have done the math: the fund was worth over $45B last year...
- Blog posts 2009-08-28
- Treasury eager to extend Tarp into next year
- The Obama administration is leaning towards extending the troubled asset relief programme into next year, retaining part of the $700bn war chest in case of another financial emergency.Although no final decision has been made, officials in the Treasury are wary of letting the fund expire as scheduled at the...
- News items 2009-11-15
- Treasury GMAC Bailout A Fraudulent "Kiting" Scheme?
- The Bush Administration seems determined to extend the US auto industry's life until January 21st come hell or high water. The latest sign of this desperation? The Treasury just bailed out GMAC with $5 billion of taxpayer TARP money that it doesn't really have. NYT: The Treasury Department injected $5...
- News items 2009-08-07
- Is Paulson's TARP a TRAP?
- Kathy Lien submits: For the second day in a row, yesterday Federal Reserve Chairman Ben Bernanke and US Treasury Secretary Paulson pleaded to the power players of Washington to pass their request for $700 Billion to implement their Troubled Asset Relief Program [TARP]. However if we move the...
- External links 2008-09-25
- Goldman's Issuance: Proof TARP Money Isn't Being Loaned Out
- Casey B. Mulligan submits: It is reported that Goldman Sachs will issue common stock to repay their TARP loan.It is neither a coincidence nor a surprise that Goldman GS issues shares at the same time that they repay their TARP money. I explained last fall how Treasury "capital injections"...
- External links 2009-04-11
- Geithner says core TARP programs ending
- By Glenn Somerville and David Lawder of Reuters WASHINGTON - The Obama administration will shutter programs at the heart of a $US700 billion financial bailout but remains focused on supporting a fledgling economic recovery, Treasury Secretary Timothy Geithner has said. "We are now at the point where we can begin...
- News items 2009-10-21
- Bank Bailout: Treasury Wrestles With Making Good to Taxpayers
- Wondering how U.S. taxpayers are making out on our massive investment in financial institutions via the federal Troubled Asset Relief Program? Thus far, not so hot. The Congressional Oversight Panel, which lawmakers created last fall to monitor the progress of financial reform, said in a report released...
- Blog posts 2009-07-13
- Profit on TARP Repayments Will Only Cancel Out Other Losses
- Chad Brand submits: Before we start jumping for joy that the government stands to make a nice profit on the $68 billion of TARP money that is now eligible to be repaid, let’s consider that the gains are only from relatively healthy institutions. By forcing each of the nation’s...
- External links 2009-06-11
- If TARP Was So Smart, Why Are So Many Banks Failing?
- So we taxpayers actually made money on the Troubled Asset Relief Program-at least so far. Goldman Sachs GS, JP Morgan JPM and others have repaid the loans from the government, with interest, and the equity stakes that we hold in Citigroup C and Bank of America BAC have appreciated since...
- Blog posts 2009-09-01
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