Neil Barofsky, the Special Inspector General for the Troubled Asset Relief Program (affectionately known as SIGTARP), is making headlines with his estimate that the government has provided “potential support totaling more than $23.7 trillion” in fighting the financial crisis. That estimate will be officially released on Tuesday morning in the SIGTARP’s latest quarterly report (you [...]
Posts Tagged ‘Bank of America’
Beyond the $23.7 Trillion Headline
Posted in Budget, Economy, Finance, Macroeconomics, Politics, tagged AIG, Bank of America, Banks, Budget, Chrysler, Citigroup, Finance, GM, GSE, Housing, Macroeconomics, Politics, TARP, Warrants on July 20, 2009 | 3 Comments »
Progress on Auctioning TARP Warrants
Posted in Auctions, Finance, tagged Bank of America, Banks, Budget, Chrysler, Citigroup, GM, TARP, Warrants on June 26, 2009 | 3 Comments »
Ten major banks repaid almost $70 billion to TARP in recent weeks. But they aren’t free from TARP just yet: Treasury still owns warrants to purchase their common stock. I’ve previously argued that Treasury ought to auction these warrants to the highest bidder. Auctions would (a) be transparent, (b) provide full, fair value to taxpayers, [...]
The Subsidies in TARP
Posted in Budget, Finance, tagged Auto, Bank of America, Budget, CBO, Chrysler, Citigroup, Finance, GM, Housing, TARP, Warrants on June 26, 2009 | 3 Comments »
How much is TARP costing American taxpayers? We know that Congress originally authorized up to $700 billion in TARP investments. And we know that $439 billion has been committed to various programs. But how much of that money are taxpayers likely to see again? And to what extent will they be compensated for making those [...]
The TARP Peace Sign
Posted in Budget, Finance, tagged Bank of America, Banks, Budget, Citigroup, Finance, Stock Market, TARP, Warrants on June 18, 2009 | 3 Comments »
Wednesday was a rare day in Washington: the Federal government was actually cash-flow positive. The reason, of course, is that ten major banks repaid $68 billion in TARP money. Smaller banks had previously repaid about $2 billion, so Wednesday’s action lifted total repayments to $70 billion, almost 30% of TARP support to individual banks. (For [...]
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