Word: bankses
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Many factors weigh on the bond market, such as the falling price of oil - it closed at $43.52 per bbl. in Wednesday's trading - and the progress of the auto-industry bailout, not to mention every gasp from the housing market. And then there's the elephant in the room...
Kashkari told lawmakers that it is very difficult to figure out how the funds that banks have received from the government are being used but that he thought the moves Treasury has made so far have gone a long way toward stabilizing the economy. Kashkari also said that Treasury was...
Also out on Wednesday was a report by an oversight board appointed by Congress to evaluate Treasury's economic-rescue efforts. The board, which is headed by Harvard law professor Elizabeth Warren, criticized Treasury for failing to set up a program to monitor the effectiveness of TARP. In particular, the...
The Treasury Department has said it will invest up to $335 billion of the $700 billion bailout fund in banks and other financial institutions. It is using the money to buy preferred shares in banks, a move it began in late October. So far, it has invested $165 billion in...
Many of those investments have lost money. The preferred shares the government purchased don't trade, but many of the Treasury-assisted banks already have existing preferred shares that do. And preferred-share experts say the stock that was issued to the government would likely carry similar prices to the...