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 ‘Chrysler’
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 »
Standing Firm on Auto Dealers
Posted in Budget, Politics, Regulation, tagged Auto, Budget, Chrysler, Defense, GM, Politics on July 16, 2009 | 2 Comments »
Over the past year, the U.S. government has acquired an unprecedented investment portfolio, including a majority stake in GM and a large ownership stake in Chrysler. These investments have raised a plethora of difficult policy challenges. One of the most important is the ongoing risk that private business decisions may get transformed into public policy [...]
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 [...]
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