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14 Dec 2009 09:50

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Biz: TARP also-rans: Citigroup the last bank to pay back bailout funds

  • $20 billion the amount Citigroup is paying back – a loss of $5.1 billion in TARP funds for the good guys
  • $45 billion the amount Bank of America paid back to the government last week – so Citigroup stands alone source
Posted by Ernie Smith • 0 Comments • Permalink

09 Dec 2009 09:58

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Biz, U.S.: The phrase “TARP” isn’t leaving our lives anytime soon

  • TARP is going nowhere, guys. Treasury secretary Timothy Geithner informed Congress this morning that the program, set to expire at the end of the year, will be extended until at least October. Which means that the bailouts won’t be going anywhere anytime soon, as a way to extend small-business credit. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Sep 2009 09:59

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U.S.: Senate minority to Timothy Geithner: Kill TARP. Now.

  • 39 Republican Senators (and one Democrat) want TARP to end source
Posted by Ernie Smith • 0 Comments • Permalink

21 Apr 2009 23:54

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Biz, U.S.: Great! The bailout program could be a huge target for fraud.

  • The sheer size of the program … is so large and the leverage being provided to the private equity participants so beneficial, that the taxpayer risk is many times that of the private parties, thereby potentially skewing the economic incentives.
  • Inspector General Neil Barofksy • In a massive quarterly report on the Troubled Asset Relief Program. Sound like fun? It totally is. We hope, if the banks defraud us taxpayers, they do it in really cool ways, like buying themselves gold houses and rocket cars. • source
Posted by Ernie Smith • 0 Comments • Permalink

12 Jan 2009 12:12

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Biz, U.S.: Oh wait! Obama wants me to release those bailout funds!

  • $350 billion was just signed off on by Bush source
Posted by Ernie Smith • 0 Comments • Permalink

12 Jan 2009 11:45

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U.S.: I’m outta here! This is on that Obama guy’s watch now.

  • I don’t intend to make the request unless he specifically asks me to make it.
  • George W. Bush • on the release of $350 billion in Troubled Asset Relief Program funds. If the money were to be released today, it wouldn’t be available until after Obama takes office. Obama has yet to request the money. • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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