Word: bailouts
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...chair of the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP), Warren pretty much supervises the bailout...
...bailout money they've received, some of America's biggest banks are still unwilling to sell many of the toxic assets clogging their balance sheets. The prices being offered, they say, are simply too low, and neither massive government subsidies for buyers nor encouragement from President Obama has thus far been sufficient to change their minds...
...prove useful in another way. Geithner has only about $35 billion of TARP money left to plug the remaining holes for the 19 largest banks. After that, he has to go back to Congress for more money - at which point he'll need the stress tests to convince bailout-weary Representatives to shell out even more for the banks...
...There's no quick fix for any of this, just as there's no quick fix for the rest of the economy. Still, it's clear that for all the leading indicators that can be helped by stimulus packages and bailout money, it's the national mood that could get the biggest boost...
According to The Wall Street Journal, "If confirmed, Mr. Allison will become point person for what has become an unpopular program. He'll have to defend plans for spending the program's remaining cash, and would likely represent the administration if it requests more bailout funds, which many observers expect." (See "Four Steps to Ending the Foreclosure Crisis...