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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: Troubled Asset Relief Program

Troubled Asset Relief Program stories: 47 news summaries

1 - 20 of 47 Stories | 1 2 3 Next >>

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Paul Krugman

 AIG Bailout Squandered Our Money, Trust

Geithner & Co. were afraid to ask Wall Street for concessions

Nov 20, 09 9:55 AM CST
(Newser) - Financial officials, “most notably Timothy Geithner,” deservedly lost the public's trust with their no-strings-attached bailout of AIG, Paul Krugman rails in the New York Times . As a damning report from the TARP inspector general points out, the government made no serious attempt to extract concessions from the... More »

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AIG • Paul Krugman • bailout • Troubled Asset Relief Program • Wall Street bailout • Timothy Geithner • TARP

 Mega-Lender CIT 
 Files Chapter 11 

Bailed-out firm's move will cost government $2.3B

Nov 1, 09 4:43 PM CST
(Newser) - CIT Group, a major lender to small and medium-sized American businesses, filed for Chapter 11 today. The move means the government is most likely out the $2.3 billion in TARP bailout funds it put up last year. The "prepackaged" procedure is intended to allow CIT, which reported $71... More »

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Carl Icahn • bankruptcy • bailout • Chapter 11 • Troubled Asset Relief Program • Wall Street bailout • TARP • Jeffrey Peek • bankruptcy protection • CIT Group

(Newser) - Anybody seen $700 billion? The government watchdogs charged with overseeing TARP spending don't seem able to answer even basic questions about where the money went, Chris Adams writes at McClatchy. A special inspector general, a congressional panel, and eight other inspectors general are supposed to be keeping track of the... More »

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Henry Paulson • watchdog • Treasury Department • Government Accountability Office • bailout • Troubled Asset Relief Program • Wall Street bailout • Timothy Geithner • TARP • Neil Barofsky

(Newser) - Federal agencies are taking a close look at Goldman Sachs' pay practices and use of credit instruments as the firm's profits rebound to record-breaking levels, the Los Angeles Times reports. The company, which says it is complying with the dual investigations, has paid back its $10 billion TARP loan, but... More »

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executive compensation • Goldman Sachs • derivatives market • Troubled Asset Relief Program • financial crisis • TARP

TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

Jul 30, 09 12:52 PM CDT
(Newser) - The financial crisis and government bailouts did little to change Wall Street’s executive compensation habits, New York's attorney general says. All nine banks given assistance by TARP paid out bonuses in 2008—well before any paid back government loans, according to a survey ordered by Andrew Cuomo. Goldman Sachs,... More »

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Citigroup • executive compensation • Bank of America • Goldman Sachs • Merrill Lynch • Andrew Cuomo • bonuses • bailout • Troubled Asset Relief Program • Wall Street bailout • TARP

(Newser) - The Treasury Department has given 10 banks—including Goldman Sachs, JP Morgan, American Express, and Capital One—permission to repay their TARP loans, the Wall Street Journal reports. The government will recoup $68 billion faster than anticipated, but the money won’t go back into the public coffers; Tim... More »

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Congress • Goldman Sachs • American Express • Treasury Department • Capital One • JPMorgan Chase • Troubled Asset Relief Program • TARP

ANALYSIS

Banks Lowball Taxpayers on TARP Payback

Feds hold stake after emergency loans, and could profit by waiting

May 19, 09 10:55 AM CDT
(Newser) - US banks are eager to repay their TARP money, but doing so might rob taxpayers of the upside they were originally promised, the New York Times reports. In exchange for emergency loans, the government got 10-year warrants to buy stock in the banks. If repaid, it must sell those warrants.... More »

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Treasury Department • stock options • banking industry • Troubled Asset Relief Program • TARP • Old National Bancorp

UPDATED

Geithner: $110B Left in TARP
War Chest

Treasury won't ask Congress for more; defends slack lending

Apr 21, 09 10:53 AM CDT
(Newser) - Some $109.6 billion remains in the government's $700 billion bailout, Treasury Secretary Timothy Geithner today told TARP's congressional oversight chief, Elizabeth Warren. The Treasury sec says that's plenty—he expects banks to repay about $25 billion over the next year, and won't ask Congress for more. Geithner also defended... More »

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bailout • Troubled Asset Relief Program • Timothy Geithner • TARP • Elizabeth Warren

20 Crime Probes Launched Into Bailout Fraud

Inspector calls TARP
'inherently vulnerable' to insider trading, abuse

Apr 21, 09 6:59 AM CDT
(Newser) - Federal authorities have begun 20 separate investigations into possible fraud, tax violations, insider trading, and other criminal activities surrounding Henry Paulson's $750 billion Troubled Asset Relief Program, reports the Los Angeles Times. It's only the first round of probes, according to the bailout program's inspector general, who called TARP "... More »

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fraud • insider trading • Henry Paulson • bailout • Inspector General • Troubled Asset Relief Program • Wall Street bailout • TARP • toxic assets

JPMorgan Chief: I Could Repay TARP Tomorrow

Dimon calls bailout money a 'scarlet letter'

Apr 16, 09 10:40 AM CDT
(Newser) - JPMorgan Chase can’t wait to pay back the government’s bailout money, CEO Jamie Dimon said today, after the company posted a better-than-expected $2.1 billion in earnings. The CEO called the funds a “scarlet letter,” Bloomberg reports, and said he was just waiting for the Treasury’... More »

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JPMorgan Chase • Troubled Asset Relief Program • Wall Street bailout • Jamie Dimon • TARP • Public-Private Investment Program • PPIP

 US Extends Bailout 
 to Life Insurers 

Treasury throwing a lifeline to a third industry

Apr 8, 09 1:41 AM CDT
(Newser) - The Treasury Department has decided to give struggling life insurance companies access to federal bailout funds, insiders tell the Wall Street Journal. The industry—which had earlier seemed largely immune to the credit crisis—has been hit hard by stock market and real estate declines, leaving some firms on the... More »

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insurance • Treasury Department • life insurance • Troubled Asset Relief Program • financial crisis • TARP

Bailout Chief Drives a Hard Bargain

TARP CIO Lambright adept at 'high-speed game of chicken'

Apr 7, 09 9:11 AM CDT
(Newser) - James Lambright, the man who gets final say over where a lot of the federal bailout money goes, is known at the Treasury, and to an ever-widening circle of executives at America’s biggest companies, as a hard-nosed bargainer, the Wall Street Journal reports. Lambright's self-professed aim is “navigating... More »

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executive compensation • Henry Paulson • Troubled Asset Relief Program • TARP • James Lambright

(Newser) - The Obama administration has devised a maybe-legal method of avoiding Congress’ restrictions on companies that accept bailout funds, including limits on executive pay and a requirement that taxpayers get an ownership stake in the firms, the Washington Post reports. To sidestep the restrictions, the administration has created special entities... More »

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Barack Obama • Congress • executive compensation • Treasury Department • bailout • Obama administration • Troubled Asset Relief Program • Wall Street bailout • Timothy Geithner • TARP

OPINION

DC Still Turns Blind Eye to Banks: Spitzer

Regulators attempt
to save face after failing to prevent crisis

Apr 1, 09 11:38 AM CDT
(Newser) - There’s a reason the government seems to have no control—darn the luck—over the banks it’s poured billions into: It’s trying to save face, writes Eliot Spitzer for Slate. Washington has struck a tacit bargain with Wall Street, the ex-governor says: Taxpayers bail out the financial... More »

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Eliot Spitzer • financial sector • bank regulation • deregulation • Troubled Asset Relief Program • financial crisis • TARP • regulator

13 Bailed-Out Banks Owe
Back Taxes

Lawmaker uncovers total of at least $220M  in unpaid bills

Mar 19, 09 11:25 AM CDT
(Newser) - At least 13 of the firms that got billions of dollars from the federal government owe back taxes, and their tab exceeds $220 million, Rep. John Lewis said today. What's more, that could be just the tip of the iceberg, the AP reports. The House Ways and Means subcommittee, which... More »

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House Ways and Means Committee • John Lewis • Troubled Asset Relief Program • TARP • back taxes

TARP Manager: Let's Not Micromanage

Banks can't make bad loans for lending's sake, says Kashkari

Mar 11, 09 3:15 PM CDT
(Newser) - Neel Kashkari, the man who manages the Troubled Asset Relief Program, doesn’t think the government ought to try to make decisions for the banks it helps, he told lawmakers today. “However well-intended, government officials are not positioned to make better commercial decisions than lenders,” he insisted. He... More »

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Congress • testimony • Treasury Department • House Committee on Oversight and Government Reform • Troubled Asset Relief Program • Neel Kashkari • Timothy Geithner • TARP • toxic assets

OPINION

Obama 'Dithering' on Bank Rescue: Krugman

Toxic asset plans just aren't going to work

Mar 6, 09 9:23 AM CST
(Newser) - Barack Obama has repeatedly said that bold action is needed to save the financial system, and he’s probably right, writes Paul Krugman in the New York Times. So it’s a shame he isn’t taking any. “The reality is that when it comes to dealing with... More »

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Barack Obama • Ben Bernanke • Paul Krugman • Obama administration • Troubled Asset Relief Program • Timothy Geithner • toxic assets

'Humbled' Bank CEOs Will Deny Blowing Bailout

Top bankers face
grilling today from
furious Congress

Feb 11, 09 2:12 AM CST
(Newser) - Bank bosses being grilled by Congress today will defend their use of bailout cash, according to prepared testimony obtained by Reuters. Chief executives from the eight biggest US banks arrive in Washington this morning—by public transportation instead of private jet this time—and are expected to strike a note... More »

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Congress • House Financial Services Committee • Vikram Pandit • Lloyd Blankfein • bailout • banks • Troubled Asset Relief Program • Wall Street bailout • TARP

 Geithner Unveils New Bank Plan 


Feb 10, 09 10:33 AM CST
(Newser) - Attempts to revive the banking industry so far have been “inadequate,” Timothy Geithner said today, promising to “fundamentally reshape” the government’s plan to rescue banks, driven by more forceful action. “We want their balance sheets cleaner and stronger,” Geithner said. To do it, he’... More »

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Treasury Department • bailout • banking industry • Troubled Asset Relief Program • financial crisis • Timothy Geithner • TARP

MARKET Open

 Stocks Down on Bailout Delay 


Feb 9, 09 8:41 AM CST
(Newser) - Stocks slid at the open, after Timothy Geithner pushed back the announcement of his much-anticipated bank rescue plan until tomorrow. The Dow dropped 40 points, while the Nasdaq and S&P barely budged, falling 0.6% and 0.4% each. But financial stocks actually rose, with Bank of America, Citigroup,... More »

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stock market • Nasdaq • Dow • S&P 500 • bailout • Troubled Asset Relief Program • financial crisis • Timothy Geithner • TARP

1 - 20 of 47 Stories | 1 2 3 Next >>


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