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 ...
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 ...
Today, in a huge win for transparency, the U.S. Court of Appeals in Manhattan ruled that the Federal Reserve Board must disclose records containing information about how it intervened to bail out banks during the financial crisis.
Since Bloomberg News filed the lawsuit in November of 2008, the Fed has claimed that if the information is released it could do more harm to the already weakened banks by stigmatizing them, thus hurting their ability to compete.
Supporters of Bloomberg’s lawsuit say the public has the right to know where their money is going. These records tell which ...
Mike Stern has found some answers to the question of how, and on what terms, did “Mark Patterson, the former... View ArticleContinue reading
The Congressional Research Service just released a report entitled “Lobbying and the Executive Branch: Current Practices and Options for Change.”... View ArticleContinue reading
Earlier today, I gave a presentation on the executive branch’s lobbying disclosure rules to the American Bar Association’s Section of... View ArticleContinue reading
Yet another member of Congress has been found pushing the Treasury Department for TARP funds despite having a long-standing relationship... View ArticleContinue reading
Yesterday, I called the Treasury Department in one last ditch effort to find their TARP Lobbyist Contact Disclosure Forms. I... View ArticleContinue reading