cboblog.cbo.gov - 1/16/2009
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CBO is required by law to report semiannually on OMB’s assessment of expenditures under the Troubled Assets Relief Program (TARP). Today, CBO released the first of these reports . (For more on the TARP program, this blog post from October includes CBO’s analysis of the financial ...
ritholtz.com - 1/13/2009
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ritholtz.com —
With the government now debating the release of
the second half of the TARP funds, perhaps now...
is as good a time as any to look at how successfully spent the first $350 Billion dollars were. The evidence is not very favorable. What I can say ...
(more)
The Terrible Lessons of TARP
house.gov - 1/10/2009
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house.gov —
Washington, DC - House Financial Services Committee Chairman
Barney Frank (D-MA) today introduced H.R. 384, the TARP...
Reform and Accountability Act to amend the Troubled Assets Relief Program (TARP) provisions of the Emergency Economic Stabilization ...
(more)
House Financial Services Committee
baselinescenario.com - 1/15/2009
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baselinescenario.com —
The Wall Street Journal (subscription required; shorter Bloomberg
article here ) is reporting that Bank of America...
will receive billions of dollars more in government aid, probably in a deal that looks something like the second Citigroup bailout, ...
(more)
Here We Go Again . . .
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The Net Cost of TARP
Economist's View —
... Troubled Asset Relief Program (TARP)
Report, CBO Director's Blog: CBO is required by law to report semiannually
on OMB’s assessment of expenditures under the Troubled Assets Relief Program
(TARP). Today, CBO released the ...
Measuring the Cost of TARP
EconoSpeak —
The CBO blog has a very useful discussion of how to measure the cost of TARP: Through December 31, 2008, the Treasury disbursed $247 billion to acquire assets under that program. CBO valued those assets using discounted present-value calculations similar to those generally applied to federal loans and loan guarantees, but adjusting for market risk as specified in the legislation that established the TARP. On that basis, CBO estimates that the net cost of the TARP’s transactions (broadly speaking, the difference between what the Treasury paid for the ...
New Report Out, TARP Still a Subsidy
The Baseline Scenario —
... This is not really news, since the CBO already forecast a subsidy of $64 billion out of the first $247 billion invested, and the OMB came up with a similar estimate even earlier - and everyone writing back in October realized that the banks were getting a sweetheart deal compared to what was available from private capital, as indicated by Buffett-Goldman and Mitsubishi-Morgan Stanley. ...
Related Content
Mending the TARP
dealbook.blogs.nytimes.com 1/15/2009 — Last Friday was whack-a-mole day on the TARP plan.
It began when a copy of the report by the TARP Oversight Panel, led by Harvard Law Professor Elizabeth Warren, was given to The New York Times; the report criticized the program's implementation. Ms. ...
Accountability Time
baselinescenario.com 1/12/2009 — With Congress back in session, accountability is the theme of the week. Barney Frank announced the “ TARP Reform and Accountability Act of 2009 ,” which I hope to get to in a day or two. But for now I want to talk about Elizabeth Warren ...
TARP Arm-Twisting Begins Again
nakedcapitalism.com 1/14/2009 — 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 ...
Quelle Surprise! Big Banks Who Got TARP Funds Reduced Lending
nakedcapitalism.com 1/26/2009 — Before we get to the particulars of tonight's Wall Street Journal story, we need to step back a second. Just like the war in Iraq, which had a ton of justifications served up by the Bush Administration, none of which added up (and the most obvious ...
How to Lose 55 Percent: Invest in TARP
dealbook.blogs.nytimes.com 2/24/2009 — TARP investments are certainly "troubled." And Washington, it turns out, isn't the best short-term investor.
The government's investment in the nation's ailing banks, made through the newly coined Troubled Asset Relief Program, TARP, have taken a huge ...
Banks with bailout funds say loans rise: survey
reuters.com 7/19/2009 — WASHINGTON (Reuters) - More than 80 percent of the U.S. banks that received federal bailout funds said the money had helped them increase lending or avoid a drop in lending as the recession worsened earlier this year, according to a new survey ...
Revisiting TARP
kudlowsmoneypolitics.blogspot.com 12/22/2008 — The TARP plan that debuted in October was described as a way to purchase toxic assets from banks and other lenders in order to unclog the credit system, which is so essential to the efficient functioning of the economy. I supported that plan then, and ...
Another View: A Bailout for the Plaintiff's Bar
dealbook.blogs.nytimes.com 4/30/2009 — Dan Slater, a former litigator, offers this view of who is actually paying to settle shareholder lawsuits against financial companies.
In January 2008, I saw a rock musical in Los Angeles called "Blood, Bloody Andrew Jackson." The refrain from the ...
TARP deadbeats
blogs.reuters.com 10/9/2009 — Thirty-three TARP recipients missed a scheduled dividend payment to taxpayers last month, according to the Treasury Department, including 18 banks that missed a payment for the first time. It’s a powerful indication that the U.S. banking system ...
Obama to Get Bailout Cash —
The Big Money 1/13/2009
It looks as if president-elect Barack Obama will get his $350 billion , the remaining half of the TARP fund yet to be spent, the New York Times reports this morning. Despite growing hostility from many Democrat and Republican lawmakers, the ...
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