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tarp: Bankers Meeting On Capital Hill - 03/27/09 06:26 PM
President Barack Obama sat down with CEO's from Bank of America, Bank of New York Mellon, JPMorgan Chase, Goldman Sachs and U.S. Bancorp today to discuss the current economic crisis.
In a press release, Secretary Robert Gibbs noted that Obama was pleased with the meeting stating Obama as saying "they had a good, productive and frank conversation." The main goal of the meeting was to let the bankers know that the doors to the White House are always open to them for discussions and critique on ways the White House should go forth on handling the economic crisis.
Reactions from CEO's … (0 comments)

tarp: Troubled Asset Relief Program Bails Out Over 100 Institutions - 12/17/08 05:12 PM
The Troubled Asset Relief Program (TARP) has surpassed the 100 bank and institution bailout point totaling $167,756,852,000 in taxpayer money under the Capital Purchase Program according to the December 16th, 2008 Transaction Report by the Treasury.
The first bailout recorded on the Capital Purchase Program was on October 28, 2008 for a total of $15,000,000,000 awarded to Bank of America. On that same day Citigroup, JP Morgan Chase and Wells Fargo have recorded the largest single transaction of $25,000,000,000. Since then the Treasury has eased its spending somewhat with the largest single transaction for the month of December in the amount … (0 comments)

tarp: GAO Reports On TARP – High Risk - 12/10/08 03:22 PM
A “heightened risk that the interest of the government and taxpayers may not be adequately protected,” is what the Government Accountability Office stated about the TARP program.
The TARP program which was designed by the Treasury to purchase toxic mortgage loans quickly switched over into a program called the Capital Purchase Program (CPP) which is now used to inject capital into banks and other financial institutions.
Since the $700 billion TARP program began, $195 billion has been disbursed to 87 institutions through the CPP program. Oversight of this money once it leaves the Treasury is virtually nonexistent according to the report … (0 comments)

 
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