Word: tarp
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...system may push a number of banks out of business. In the past few weeks, as many as 67 financial firms have received a portion of the $700 billion bailout approved by Congress. But absent from the list of companies approved for the government's Troubled Asset Relief Program (TARP) are a handful of midsize banks, which rank among the 50 largest in the nation by the Federal Reserve. And that has a number of analysts and investors who follow these companies worried. "It's a case of be careful what you wish for," says Thomas Brown, whose hedge fund...
...Analysts are concerned that the vote of no confidence from the government would cause consumers to flee the banks, taking deposits and forcing the firms to liquidate or be sold. Among the nation's largest banks that have not yet announced they have been approved for the government's TARP assistance are Synovus Financial Corp, M&T Bank, New York Community Bancorp, Colonial Bancgroup and the South Financial Group...
...press. And he's just tired. He gave off the vibe today that he might just be counting the days until he gets to hand off the whole mess to Larry Summers, Tim Geithner or whoever President-elect Barack Obama chooses to succeed him. (Read more about TARP...
...semi-bailout of Bear Stearns in March, it's easy enough to see where that decision came from. Less easy to understand is why Paulson initially stubbornly insisted that the bailout bill be structured as an asset-purchase plan - it's still called the Troubled Asset Relief Program, or TARP - rather than as a straightforward recapitalization of troubled banks. Treasury has since switched to the latter approach, so far putting $216 billion of the TARP hoard into capital injections. On Wednesday, Paulson said that Treasury has concluded that, for the moment at least, buying illiquid mortgage securities...
There were lots of questions about what to do for General Motors, which appears headed for bankruptcy without government help. Paulson said TARP was never intended to bail out nonfinancial firms, so that money is off-limits. But he did indicate that the Bush Administration would be agreeable if Congress wanted to amend a law passed in September that provides $25 billion in loans to automakers for retooling, so that those funds can be used to keep GM and the two other members of the Detroit Three alive...