Word: tarp
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...months in, and already $16 billion in the hole. That's how much the Treasury's Troubled Asset Relief Program (TARP), which was approved by Congress in early October, has already lost on its investments, according to a TIME analysis. (Read the top 10 financial collapses...
...federal aid, just like any other income. But don't worry, corporate America, the Treasury's Troubled Asset Relief Program won't trigger a tax bill. In October, the IRS said it doesn't consider money given by the government to the ailing banks as part of the TARP program financial aid. Call it a financial encouragement to stay in business, but not aid. Tax-Loss Carrybacks...
Reid and House Speaker Nancy Pelosi have long wanted to see the money come from the $700 billion bank bailout fund, known as the Troubled Asset Relief Program, or TARP, and have argued against taking money from the modernization fund. Pelosi relented only after Friday's job report - the worst in 34 years, showing that the economy shed more than 533,000 jobs last month. But, having made this concession, Dems said they were unlikely to yield more ground. "This is a bad choice that we have to make. We should be able to use TARP money. The White House...
...billion to be repaid by the end of March, meaning the car companies will either be forced to go it alone after that or, more likely, the Obama Administration will replace the $15 billion - plus the additional funds the car companies say they need - with money from the TARP, the Treasury or the Federal Reserve. In fact, the bill has language specifically authorizing the President to take money from the TARP, a provision the Bush Administration - which has steadfastly opposed using such funds for the automakers - has presumably chosen to overlook...
...Questions are not fewer because of the recent switch in tactics - if anything, they've increased: What was the point of the TARP in the first place? Where do we go now that Citi's been bailed out? Do toxic assets remain on other institutions' books? And if so, why? Is it too difficult for the government to price them and run the auctions that would get rid of them? So Tim, do us all a favor. Make two long, sober speeches: one explaining systemic risk, and one explaining, conceptually, what you will be up to once you take over...