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Geithner: The Patient is Out of Intensive Care
It’s been a long, strange ride, but the nation’s financial system is finally starting what is certain to be an extended healing process. Treasury Secretary Timothy Geithner believes that “the financial...
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TARP’s Ultimate Tally Could Be Just $25 Billion
The estimated cost of the Troubled Asset Relief Program (TARP) keeps falling, according to the nonpartisan Congressional Budget Office (CBO). The latest estimate is that TARP will cost the taxpayers...
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TARP: Money Well Spent
A top Treasury official defended the federal government’s $700 billion bank bailout financial crisis-response program at a hearing where the effort was criticized by members of a watchdog panel...
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Want to Buy a Toxic Asset? The Treasury Department Is Selling Them
The Treasury Department is planning to sell $142 billion worth of toxic assets that it acquired during the financial crisis. According to Treasury, it wants to sell approximately $10 million worth of...
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The Fed’s Secret Bank Loans Revealed
In a stunning revelation, Bloomberg has obtained 29,000 pages of Federal Reserve documents detailing the largest bailout in American history. According to an article that will appear in the January...
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Fannie Mae Asks Uncle Sam For More Money
In an attempt to dig itself out of a deepening hole, Fannie Mae has requested $4.6 billion in additional federal aid. “We think that we have reserved for and recognized substantially all of the credit...
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Treasury Makes $25 Billion in Successful MBS Sale
The Treasury Department just raked in a cool $25 billion for the American taxpayer. It sold the agency-backed mortgage-backed securities (MBS) that it bought during the financial crisis. “The...
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