Since the 1990 election cycle, the finance, insurance and real estate sector (FIRE) has donated over $2.3 billion to federal... View Article
Continue readingThe bailout is investing again
The Troubled Asset Relief Program (TARP) has started to grow again, after the Department of Treasury announced in December of last year the bailout would be coming to a close. Earlier this month, the Department of Treasury invested $21 million in small business loans with more investments to come that could total as much as $15 billion.
The money is being spent to purchase securities backed by the Small Business Administration in yet another effort to stimulate lending in the economy. The $15 billion dedicated to this program is considerably smaller than other TARP programs, such as the Capital Purchase ...
Bailout watchdog criticizes home loan program
A year after the $75 billion program to reduce mortgage payments under the Home Affordable Modification Program
(HAMP) went into effect, a recent audit report criticized
the outcome of the program as "disappointing." So far, out of the
million trial mortgage modifications, under which homeowners can have their mortgage payment reduced for three months, only 168,000 loans have been
permanently reduced falling drastically short of the 3 to 4 million
initial goal of the Department of Treasury.
According to the Special Inspector General for the Troubled Asset Relief Program audit Treasury admitted its goals of the HAMP program have ...
Not My Bank, Not My Problem Part II
Yet another member of Congress has been found pushing the Treasury Department for TARP funds despite having a long-standing relationship... View Article
Continue readingThe TARP Lobbying Rules: What They Say And What They Mean For Transparency
In September, the Treasury Department released its TARP lobbying disclosure rules, nearly eight months after a press release heralding their... View Article
Continue readingTreasury Releases TARP Lobbying Rules
According to the Hill, yesterday the Treasury Department released its rules regarding “Communications With Registered Lobbyists And Other Persons About... View Article
Continue readingFormer Treasury Official Thought TARP Lobbyist Rules Were Political
Not sure what I think about this, but former TARP czar Neil Kashkari, appointed under President Bush, told the TARP... View Article
Continue readingPotential New Banking Committee Chair Has Ties to Financial Sector
With the passing of Sen. Ted Kennedy, the gavel he wielded as chair of the Senate Health, Labor, Education &... View Article
Continue readingAre the Inspector General’s Financial Bailout Recommendations Out of Date?
Earlier this month, the Inspector General responsible for overseeing the government’s bailout of the financial sector released an audit of... View Article
Continue readingThey Don’t Call It TARP For Nothing
You can’t see under it. While we might be a bit concerned about Recovery.gov’s reporting practice for a bunch of... View Article
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