Word: tarp
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Next up? Auto parts suppliers. Treasury is now preparing new guidelines, making supplier companies that feed parts to Detroit's troubled automakers (and often, transplants like Toyota as well) eligible for loans through the TARP, which initially was set up by Congress to help troubled financial institutions. "If you are based in Detroit you know the entire supply chain is in trouble. The liquidity situation in the supply chain has deteriorated significantly," says Steve D'Arcy, the director of Pricewaterhouse Cooper's consulting practice in Detroit. (Archive: "Iacocca's Tightrope...
...lending to consumers and businesses, members of Congress are loath to hand over the rest of the money without guarantees of greater oversight and transparency. And so Senate Democratic leaders are struggling to prevent their members from passing a Resolution of Disapproval of the Troubled Asset Relief Program, or TARP, which would prevent the second half of the emergency fund from flowing to the Treasury Department in the next two weeks. (See a bailout report card...
...grocery-store test: How many aisles can I get down the grocery store without someone yelling at me?" said Senator Claire McCaskill, a Missouri Democrat. "I couldn't even get to the produce section at the front of the store before people started screaming at me about the TARP." McCaskill, on her way to a Senate Democrats' luncheon with Obama, was dubious that she could be convinced to vote against the resolution. "If we can't get transparency for taxpayers on this, it's going to be difficult to get my vote," said McCaskill, one of Obama's top supporters...
...Even before he appeared on the Hill, Obama was laying groundwork to avoid a TARP train wreck. In a letter sent on Monday to congressional leaders, he pledged to devote much of the second installment to assisting small businesses and helping students and car buyers get loans. In personal calls to members on both sides of the aisle he promised better transparency of how the funds are disbursed, reflecting the frustration and anger of many members regarding the Treasury Department's handling of the funds. Still, many Democrats said on Monday that Obama's letter was not enough to convince...
...blue for Chrysler, Cerberus' other problem child. Though the billions in TARP aid President Bush authorized for Chrysler and GM will buy Chrysler some time, there are difficult issues ahead. Unless labor costs can be brought down to parity with the foreign transplants, and without the restructuring of Chrysler's debt, the company cannot be restored to long-term health and the government loan will be unlikely to be fully repaid. (Read about GM's, Ford's and Chrysler's bailout plans...