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Dominating the Narrative
econlog.econlib.org — (November 20, 2009 08:57 AM, by Arnold Kling) Will Wilkinson writes, Ygesias says, "I believe that absent the [TARP] bailout, we'd be looking at even higher unemployment today." I think this is a plausible claim. But I don't know of a satisfactory way ... (more) Dominating the Narrative
Ron Paul Slams The Watt Amendment: "The American People Are Sick And Tired Of Secret Government"
Ron Paul Slams The Watt Amendment: "The American People Are Sick And Tired Of Secret Government"
dailybail.com — HR 1207 Audit The Fed Video: Ron Paul Attacks the Watt Amendment -- House Financial Services Committee -- Aired November 19, 2009 -- Runs 5 Minutes Watch "This is the bill that would allow the American people to win" "Who's benefiting and where are the trillions of dollars ... (more) Ron Paul Slams The Watt Amendment: "The American People ...
Bloomberg’s Weil: Wells Fargo Needs TARP
Bloomberg’s Weil: Wells Fargo Needs TARP
blog.ockhamresearch.com — Bloomberg opinion columnist Jonathan Weil has a talent for navigating balance sheets of often complex financial firms.  In his latest piece , he writes about Wells Fargo ( WFC ), the bank who rejected the idea that it needed TARP funds in the first place, yet has to date neglected to repay ... (more) Bloomberg’s Weil: Wells Fargo Needs TARP
What Did TARP Do?
baselinescenario.com — This morning, starting at 9:30am, the Congressional Oversight Panel holds a hearing to assess the performance of the Troubled Asset Relief Program (TARP). The hearing will be streamed live and also archived , featuring testimony from: Dean Baker (Center for Economic and Policy Research), ... (more) What Did TARP Do?
Securities Docket A.M. News Wire for 2009-11-14
Securities Docket A.M. News Wire for 2009-11-14
securitiesdocket.com — Web Watch: Best Blog Posts and Columns For the Week Ending Nov. 13, 2009 http://bit.ly/1o3dSQ # SEC Charges Two Madoff Computer Programmers http://bit.ly/24dBkm # "SEC: THIRD BEST FEDERAL WORKPLACE FOR 2007!" http://bit.ly/2XZzmV # PwC report: Securities litigation ... (more) Securities Docket A.M. News Wire for 2009-11-14
The Big Gov’t Mortgage Mod Program: The Latest Numbers
onthehillblog.blogspot.com — The administration’s $75 billion mortgage modification program is meant to help 3 million to 4 million homeowners avoid foreclosures. The latest data, out Tuesday, shows mortgage servicers are making some progress toward this goal, but big questions remain about how effective the program will be. (more) The Big Gov’t Mortgage Mod Program: The Latest Numbers
BofA Lends $96bn of First Mortgages in Q309
hf-implode.com — " BofA’s $759bn in new credit extended is equal to nearly $17 for every $1 of the $45bn of Troubled Asset Relief Program (TARP) funds it received from the federal government. By November 16, Bank of America will pay more than $2.5bn in dividend payments to the US Treasury Department." (more) BofA Lends $96bn of First Mortgages in Q309
November 9, 2009
federalreserve.gov — Release Date: November 9, 2009 For immediate release The Federal Reserve Board on Monday said that 9 of the 10 Bank Holding Companies (BHCs) that were determined in the Supervisory Capital Assessment Program (SCAP) earlier this year to need to ... (more) November 9, 2009
GM Announces It Will Pay Back Gov’t Loan … With Gov’t Money
onthehillblog.blogspot.com — GM will be begin paying back the TARP money in December, the company announced this morning. It’s a statement in need of a little context. Basically, GM will be using a portion of its $50 billion in TARP bailout money it received to in turn repay another portion of the TARP loans. (more) GM Announces It Will Pay Back Gov’t Loan … With Gov’t Money
Video: Spare TARP Funds Could Ease Deficit
politicalnewslive.blogspot.com — A $210 billion surplus in TARP funding could be used to reduced the U.S.'s towering national deficit. WSJ's Deborah Solomon says the move follows criticism of the Obama administration's approach to debt. (more) Video: Spare TARP Funds Could Ease Deficit
Henry Blodget: Tim Geithner Is Screwing You Again
Henry Blodget: Tim Geithner Is Screwing You Again
dailybail.com — You remember GMAC.  Bored by the mundane world of vehicle financing, they plunged into mortgage originations only to get stomped.  They've already received $12.5 billion via TARP since December 2008 (because TARP was designed to help auto loans, remember?...or was it the toxic ... (more) Henry Blodget: Tim Geithner Is Screwing You Again
Guest Post: Government Is Trying to Make Bailouts for the Giant Banks PERMANENT
nakedcapitalism.com — On September 25th, I wrote : Paul Volcker and senior Harvard economist Jeffrey Miron both testified to Congress this week that the government is trying to make bailouts for the giant banks permanent . Writing Wednesday in The Hill, Congressman ... (more) Guest Post: Government Is Trying to Make Bailouts for ...
Morning Links 11-2
Morning Links 11-2
blogs.reuters.com — CIT files for bankruptcy (Wilchins/Comlay, Reuters) The $2.3 billion they got from TARP? It’s gone. We’ve known that for a while….another dagger in the heart of the we-made-money-on-TARP argument… Senate health bill ... (more) Morning Links 11-2
Sympathy for the Treasury
interfluidity.com — It worked! Officials pointed to a lot of good news in terms of visible cash flows associated with TARP and the various assistance programs. They claimed that since the Obama administration has taken office, more money has come back than has been put ... (more) Sympathy for the Treasury