The night John McCain killed the GOP's health-care fight
WASHINGTON - It was the most dramatic night in the United States Senate in recent history. Just ask the senators who witnessed it. A seven-year quest to undo the Affordable Care Act collapsed - at least for now - as Sen. John McCain, R-Ariz., kept his colleagues and the press corps in suspense over a little more than two hours late Thursday into early Friday. Not since September 2008, when the House of Representatives rejected the Troubled Asset Relief Program - causing the Dow Jones…
The Treasury Department approved large compensation packages for executives at three firms that received bailout funds, the special inspector general for the Troubled Asset Relief Program found in a....more
While Iceland allowed its government to take total financial control when the 2008 crisis took hold, American bankers — in likely the only bail handout given to criminals of mass destruction — received $700 billion in Troubled Asset Relief Program (TARP) funds. Thank you, Congress American taxpayer.
The report, from the special inspector general for the Troubled Asset Relief Program, or Sigtarp, said there was an “alarming rate” of homeowners who were defaulting after receiving a permanent mortgage modification. The report says data show that the longer a homeowner remains in HAMP, the more likely he or she is to redefault out of the program. This is true of almost any mortgage-modification program.
Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), told lawmakers, "Inadequate oversight and insufficient information about what companies are doing with the money leaves the program open to fraud, including conflicts of interest facing fund managers, collusion between participants and vulnerabilities to money laundering." http://en.wikipedia.org/wiki/Troubled_Assets_Relief_Program#TARP_fraud
More Americans think Obama, Not Bush, Enacted Bank Bailouts, Poll Shows
Darryl Layne Woods, the chairman of Columbia, Mo.-based Mainstreet Bank, pleaded guilty on Monday to using bailout funds from the Troubled Asset Relief Program to purchase a luxury condominium in 2009, U.S. Attorney Tammy Dickinson announced in a press release.
Treasury Freezes Compensation For Top AIG, Ally, GM Executives. While a majority of the American corporations that received "exceptional" bailout assistance form the Troubled Asset Relief Program, there are still three businesses — AIG, Ally Financial (you may know it by its pre-bust name of GMAC), and General Motors — remaining. Today, Treasury Dept. announced that the Acting Special Master for TARP Executive Compensation has determine
Neil Barofsky, who was the special investigator general of the US government's Troubled Asset Relief Program until his resignation in 2011, spoke to RT about how the Washington-Wall Street political culture could lead to another devastating collapse. RT LIVE http://rt.com/on-air Subscribe to RT! http://www.youtube.com/subscription_center?add_u...
One of the most polarizing figures from the 2008 financial crisis is joining the Federal Reserve. Neel Kashkari, who oversaw the U.S. government's $700 billion bailout of big banks, was named president of the Minneapolis Federal Reserve on Tuesday.Kashkari followed Hank Paulson from Goldman Sachs (GS) to the Treasury Department, where Kashkari would eventually become the brainchild behind the deeply unpopular bailout known as the Troubled Asset Relief Program, or TARP.
The Troubled Asset Relief Program (TARP), spent hundreds of billions of dollars to subsidise the very organisations and investors arguably most responsible for the crisis. The Troubled Assets Relief Program has met heavy criticism from both citizens and Republicans as it has seemed to be less effective than projected, if at all, and does not allow weak, uncompetitive businesses to fail and be replaced. Benefit of no Risk and Profit? FORD? Risk transferred to employee (consumer)