Word: tarp
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...would not be at all unusual for a similar system to spread to the U.S. as the $350 billion left in the TARP becomes available to the new Treasury Secretary...
...Whether it is practical to help people with troubled home loans one-by-one may be besides the point. The fight over the TARP will be vicious. Saying that taxpayers will get their money back by saving the housing market probably creates good political capital. (See pictures of the global financial crisis...
...TARP may simply disappear before the eyes of everyone debating how it should be used. Bank of America (BAC) is negotiating with the government for billions and billions of dollars to close its acquisition of Merrill Lynch. That was not how it was supposed to work. BAC was supposed to have had the balance sheet to suck up both Merrill and Countrywide...
...Once Congress does go along with letting Obama's Treasury Secretary have access to the $350 billion still left from the money that was allocated for the TARP, a great deal of it may be going right back out to banks. The forecast now is that Citigroup (C) could lose $10 billion this quarter. A look at what is happening to consumer credit, LBOs, and the alarming increase in corporate bankruptcies means that Citi may need more than one injection of capital this year. The same holds true for Bank of America and a number of other financial firms which...
...fight over the use of the TARP funds may be academic, at least in part. The money has already been spent...