AIG makes $972 million TARP repayment to Treasury

2011-11-01T13:30:19Z

WASHINGTON (Reuters) - The Treasury Department received a $972 million repayment from American International Group , funded by proceeds from the sale of AIG'S American Life ...

Fast TARP exit meant less capital for some banks: U.S. audit

2011-09-29T21:30:05Z

WASHINGTON (Reuters) - Some large U.S. banks would have stronger capital bases to better deal with today's market stresses had regulators not relaxed bailout repayment criteria in late 2009, a new government audit showed on Friday.

Bank of America<...

US gov't recovers nearly $900 mn in TARP bailout

2011-08-25T18:30:18Z

The US Treasury said Thursday it had recovered nearly $900 million during the first six months of the year in taxpayer money used to bail out the banking system during the financial crisis.

The Treasury said it had received more than $886 million by June 30 from the Reuters) - The Senate has confirmed the Treasury Department's top national security officials, the head of its bailout programs and its top spokesperson, easing a backlog of Obama administration nominees delayed by political wrangling.

The Senate voted late on Thursday to confirm Reuters) - The Obama administration wants to help more struggling Americans stay in their homes by reducing the amount they owe on their troubled mortgages, a top Treasury official said on Saturday.

"We are very definitely trying to facilitate more principal reductions," said Timothy Massad, Treasur...

Senate panel backs Treasury's bailout chief

2011-05-26T15:00:12Z

WASHINGTON (Reuters) - A Senate panel on Thursday approved Timothy Massad to lead the Obama administration's $700-billion bank bailout program and oversee the government's exit from insurer AIG and General Motors Co.

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Critical to be vigilant on TARP oversight

2011-04-27T21:30:07Z

WASHINGTON (Reuters) - The watchdog for the $700 billion bank bailout program said on Thursday it will remain vigilant in protecting taxpayers especially now congressional supervisors have stopped oversight.

In its latest quarterly report, the special inspector general for the US budget deficit shot up 15.7 percent in the first six months of fiscal 2011, the Treasury Department said Wednesday as political knives were being sharpened for a new budget battle.

The Treasury reported a deficit of $829 billion for the October-March period, compared with $717 billion a year earlier, as revenue rose a sluggis...

US claims profit on bank bailout program

2011-03-30T19:30:26Z

The United States said Wednesday its bank bailouts had earned a profit, 30 months after the Treasury committed hundreds of billions of dollars to rescue financial institutions as the economy plunged into crisis.

After enduring deep criticism over the use of taxpayer funds to rescue banks run aground by billionaire executives, the Treasury said bank repayments to the

Senate panel to step up TARP oversight: chairman

2011-03-17T12:00:13Z

WASHINGTON (Reuters) - A Senate committee will step up oversight of the government's unpopular TARP bank bailout program now it is losing one of its watchdogs, a top senator said on Thursday.

The Senate Banking Committee will...

US bank bailout was 'critical': Congress watchdog

2011-03-16T02:30:08Z

The US government's multi-billion-dollar bank bailout helped avert a second Great Depression and cost taxpayers much less than expected, but was far from perfect, a congressional watchdog said Wednesday.

The Congressional Oversight Panel said the controversial $700 billion dollar bailout, launched in 2008, pro...

Watchdog says TARP helps perpetuate "Too big to fail"

2011-03-15T23:30:06Z

WASHINGTON (Reuters) - The watchdog panel for the $700 billion bank bailout faulted the U.S. government for the last time on Wednesday, saying the program helped underpin the perception that federal authorities will always prevent troubled financial firms from failing.

In its final report on the bank bailout, the panel attacked the government for not being transparent enough and...

Treasury touts success of TARP as oversight ends

2011-03-04T08:00:30Z

WASHINGTON (Reuters) - The Treasury's last man in charge of the $700 billion financial sector bailout program has two words for congressional overseers: It worked.

Testifying at the Congressional Oversight Panel's final hearing on Friday, Treasury's bailout chief Timothy Massad...

Mortgage co. official admits $1.9bn fraud scheme

2011-02-24T19:30:12Z

The treasurer of a once-leading US private home lender pleaded guilty Thursday in a $1.9 billion scheme to sell worthless loans that sparked the country's largest bank failure in 2009, the justice department said.

The scheme, which continued straight through the 2008-2009 collapse of the US housing market, fed billions in home loans that either did not exist or that had already been sold to banks and investors, to raise cash...

Obama floats $30 bln bank tax as TARP costs shrink

2011-02-14T12:30:17Z

WASHINGTON (Reuters) - The Obama administration is proposing a much smaller $30 billion tax on the largest financial institutions, in line with shrinking U.S. corporate bailout costs.

The "Financial Crisis Responsibility Fee" in the proposed fiscal 2012 budget would collect $30 billion over 10 years to recoup t...

Bailout cop Barofsky resigns as TARP winds down

2011-02-14T12:30:11Z

WASHINGTON (Reuters) - The top government auditor for bailouts of U.S. financial firms and automakers on Monday resigned his position as the $700 billion Troubled Asset Relief Program winds down.

Reuters) - The Treasury may be unprepared to manage the rest of the government's $700 billion financial bailout program if it does not take steps to retain staff, a congressional report said on Wednesday.

Although the Troubled Asset Reli...

6 banks pay back TARP funds

2010-12-29T14:30:18Z

6 banks pay back Treasury's TARP program

Six banks have repurchased investments the government made under its taxpayer-funded financial rescue program, paying a total of $626 million including dividends, the Treasury Department said Wednesday.

With the latest payments, repayments by financial institutions under the Reuters) - Six bank holding companies repaid a total of $2.7 billion in federal bailout funds they received during the financial crisis, the Treasury Department said on Wednesday.

Treasury said the banks repurchased preferred shares issued as part of the North Carolina (Reuters) - Two regional banks plan to repay their government bailout loans, a sign of health that could put pressure on other lenders to shed government aid.

Huntington Bancshares said it was ...

Treasury: Financial bailout income at $35 billion

2010-12-10T01:00:08Z

Latest Treasury figures show income from financial rescue program rising to $35 billion

The government's heavily criticized $700 billion financial rescue program has earned nearly $35 billion in income over the past two years, according to data obtained by The Associated Press.

The data showed that income from the

A Small Price to Pay for TARP: $25B and Falling

2010-11-30T12:39:33Z

...

CBO: Bailout clipped taxpayers for $25B

2010-11-29T18:00:15Z

CBO figures TARP hit taxpayers for $25B after most loans repaid; $700B was original estimate

2010-10-25T12:30:28Z

WASHINGTON (Reuters) - The Obama administration's latest estimate of taxpayer costs of the Wall Street bailout is too rosy and could ultimately damage public trust in government, the top bailout cop said on Monday.

In its quarterly report to Congress, the Sp...

Three Cheers for Bailouts

2010-10-21T13:30:33Z

Anger is one thing, but emotional judgments made in haste could mean huge problems down the road.

There’s a time and place for anger, and many Americans think the Nov. 2 elections are it. No one can doubt that frustration over the economy is justified, but lashing out at anything and everything isn’t a very constructive use of that anger. It has to b...

How much the bailouts will cost, at a glance

2010-10-21T11:00:34Z

2010-10-10T13:30:24Z

US Treasury Secretary Timothy Geithner on Sunday refuted charges President Barack Obama planned to use the financial bailout of troubled US firms to increase the government's stake in the US economy.

"President Obama adopted a strategy designed to get the government out of the priv...

No US government takeover of economy:Geithner

2010-10-09T23:30:20Z

US Treasury Secretary Timothy Geithner on Sunday refuted charges President Barack Obama planned to use the financial bailout of troubled US firms to increase the government's stake in the US economy.

"President Obama adopted a strategy designed to get the government out of the priv...

Ex-NY bank president pleads guilty in TARP fraud

2010-10-08T11:13:28Z

2010-10-05T12:30:09Z

WASHINGTON (Reuters) - Despite its enormous unpopularity among voters, the government's Wall Street bailout plan succeeded much more quickly and at a lower cost than expected, a Treasury report released on Tuesday said.

"The

Bank bailout supporters struggling for re-election

2010-10-05T19:12:35Z

...

Senator Kaufman selected as new top TARP cop

2010-10-04T10:45:09Z

WASHINGTON (Reuters) - Senator Ted Kaufman was selected on Monday to chair the congressional panel overseeing the $700 billion financial sector bailout program -- a day after the program officially expired.

Last week Senate Majority Leader Harry Reid picked Kaufman, a critic...

The Cost of TARP: One More Time

2010-10-04T03:00:52Z

...

TARP officially ends Sunday

2010-10-03T11:07:53Z

...

Chapter closes on vilified US bank bailout

2010-10-02T22:15:16Z

WASHINGTON (Reuters) - The Treasury's $700 billion bailout fund officially expires in two weeks, but not for Neil Barofsky, the top cop for the Troubled Asset Relief Program.

He's ...

Bailout anger may hamper U.S. in future crisis: panel

2010-09-15T21:45:09Z

WASHINGTON (Reuters) - Public anger over the U.S. Treasury's $700 billion bailout program may hamper the government's ability to respond to a future financial crisis, a government watchdog warned on Thursday.

The Watchdog panel says Treasury's secrecy, missteps make it harder to respond to future crises

The government's failure to level with the public about its bailout programs will make it harder to deal with future financial crises, a watchdog panel says.

Public confidence suffered after the Treasury Department claimed that bailout money would only go to healthy banks, according to a report Thursday from the Citigroup spent $1.47 million lobbying in 2nd qtr on Wall Street reform, banking regulations

Citigroup Inc. spent $1.47 million in the second quarter to lobby the federal government on various aspects of the financial regulatory overhaul and other issues, according to a disclosure report.

That's 12 percent less than the $1.67 million the bank spe...

US Bank spends $407,260 on lobbying in 2nd quarter

2010-08-31T11:45:10Z

US Bank spends $407,260 in 2nd quarter on lobbying about financial reform, tax bills

U.S. Bank spent $407,260 on lobbying the federal government in the second quarter, according to a disclosure report.

That's more than two-and-a-half times than the $160,000 that the Minneapolis-based bank spent in the second quarter last yea...

Goldman Sachs spends $1.58M on lobbying in 2nd qtr

2010-10-13T15:04:46Z

Goldman Sachs Group spends $1.58 million in 2nd qtr lobbying on financial regulatory overhaul

Goldman Sachs Group Inc. spend $1.58 million in the second quarter to lobby the federal government on issues related to the financial regulatory overhaul that President Obama signed in July.

That's more than double the ...

Morgan Stanley spends $770,000 lobbying in 2nd qtr

2010-10-13T15:04:43Z

Morgan Stanley spends $770,000 in 2nd quarter on lobbying about financial regulatory reform

Morgan Stanley spent $770,000 in the second quarter lobbying the federal government on financial regulatory reform and other issues, according to a disclosure report.

That's down 7 percent from the $830,000 the investment bank spent in the year-ago quarter. For the first six months of the year, Morgan Stanley...

PNC Bank spends $90,000 on lobbying in 2nd quarter

2010-08-31T11:16:14Z

PNC Bank spends $90,000 in 2nd quarter on lobbying on financial regulatory reform

PNC Bank spent $90,000 to lobby the federal government on financial regulatory reform in the second quarter, according to a disclosure report.

That's nearly half of the $170,000 the Pittsburgh-based bank spent...

Opposites On Economics Reid, like the Keynesians, backs government intervention Angle, like the Chicago School, advocates leaving markets alone

2010-08-24T02:15:44Z

Reid, like the Keynesians,
backs government intervention Angle, like the Chicago School, advocates leaving markets alone

With the economy looming as the 1,000-pound gorilla in voting booths this election, voters may be casting their ballots in the U.S. Senate race based not so much on the attraction of the candidate as the economic philosophy he or she embraces.
Elizabeth Warren, right, head of the Congressional Oversight Panel and Neil Barofsky, special inspector general for TARP, testify before the Sena...

Geithner Bailout

2010-06-22T09:30:31Z

Congressional Oversight Panel Chair Elizabeth Warren questions Treasury Secretary Timothy Geithner on Capitol Hill in Washington, Tuesday, June 22, 2010, during the...

GM GOVT LOANS

2010-10-22T10:45:54Z

Graphic shows the total repayment of TARP funds and government ownership of major firms including General Motors

...

Congressional Oversight Panel Holds Hearing TARP Assistance To Citigroup

2010-06-25T20:18:39Z

WASHINGTON - MARCH 04: Panel Chair Elizabeth Warren (3rd L) speaks as members (L-R) J. Mark McMatters, Paul Atkins, Damon Silvers, and Richard Neiman listen during a hearing before the Neil Barofsky, special inspector for the Troubled Asset Relief Program (TARP), testifies on Capitol Hill in Washington, Wednesday, Jan. 27, 2010, before the

Federal housing regulators on Thursday provided a broad estimate of just how much the bailout of mortgage buyers Fannie Mae and Freddie Mac will end up costing taxpayers: up to $259 billion.

News on Troubled Assets Relief Program

AIG makes $972 million TARP repayment to Treasury

Fast TARP exit meant less capital for some banks: U.S. audit

US gov't recovers nearly $900 mn in TARP bailout

Senate panel backs Treasury's bailout chief

Critical to be vigilant on TARP oversight

US claims profit on bank bailout program

Senate panel to step up TARP oversight: chairman

US bank bailout was 'critical': Congress watchdog

Watchdog says TARP helps perpetuate "Too big to fail"

Treasury touts success of TARP as oversight ends

Mortgage co. official admits $1.9bn fraud scheme

Obama floats $30 bln bank tax as TARP costs shrink

Bailout cop Barofsky resigns as TARP winds down

6 banks pay back TARP funds

Treasury: Financial bailout income at $35 billion

A Small Price to Pay for TARP: $25B and Falling

CBO: Bailout clipped taxpayers for $25B

Will TARP Fix The Financial System?

The Fall Of The Market In The Fall Of 2008

UBS Sees Light At The End Of The Tunnel (UBS)

No Regrets So Far For Banks That Said No (CFR, UMBF, BXS, BOH)

TARP Returns Start To Snowball (SBNY, SNBC, ONB, BMRC)

Take This TARP And Shove It (TCB)

IberiaBank Kicks Off TARP Backlash (IBKC)

Will TARP Cover Be Enough For Insurers? (MET, PRU, HIG, GNW, LNC)

Ten reasons why the US government's bailout plans are necessary in the current crisis Americans are facing and how the bailout plans will help

Economy: Reactions to America's bailout of financial institutions

Is the government stress test on banks a sham?

Foreclosuregate Could Force Bank Nationalization

Neil Barofsky

Understanding American finance and the $700 billion bank bailout

How the U.S. government financial bailout impacts entrepreneurs

Running Afoul of Obama's Adding Machine

SPIN METER: Despite claims, bailouts not over yet

A TARP Stick In Our Eyes

Treasury too rosy on bailout cost: TARP cop

Three Cheers for Bailouts

How much the bailouts will cost, at a glance

Refinancing my home

History Speaks Louder Than TARP

What Is a TARP Hearing?

Report criticizes TARP contracts to Fannie and Freddie

Report criticizes TARP contracts to Fannie, Freddie

The true intentions behind the recent stress tests on the nation's largest banks

The BB BLOG: Pissed-off American Taxpayer

What Ever Became of the Run On The Banks on Sept. 15, 2008?

The Bailout: A Necessary Evil

No US government takeover of economy: Geithner

No US government takeover of economy:Geithner

Ex-NY bank president pleads guilty in TARP fraud

How Much Did the Bank Bailout Actually Cost?

Whither the Bank Tax?

The Big TARP Fraud Chase

TARP: From Maligned to Benign?

TARP at 2 Years; Wall Street Cash on Capitol Hill

Treasury says TARP exceeded expectations

Bank bailout supporters struggling for re-election

Senator Kaufman selected as new top TARP cop

The Cost of TARP: One More Time

TARP officially ends Sunday

Chapter closes on vilified US bank bailout

Goodbye To TARP, But Good Riddance?

Rumors Of TARP's Death Are Exaggerated

TARP Due to End, but the Funds Will Live on

TARP Expires, Repayment in Limbo

White House slashes bailout cost estimate

How Feinberg And The SEC Have Changed Executive Pay

As TARP ends, small banks struggle to repay

TARP Ends October 3

Geithner, GOP Trade Barbs Over Economy

Small bank CEOs may shun $30 bln fund