AOL News has a new home! The Huffington Post.
Click here to visit the new home of Politics Daily!Hot on HuffPost:
Controversial Book On Obama Appears To Have Lifted Key Quote
Walker Recall Effort Struggles To Gain Momentum
tarp money
Government Sells Remaining Citigroup Shares, Makes $12 Billion
By Christopher Weber - Politics DailyTwo years after propping up Citigroup at the height of the financial crisis, the U.S. government has unloaded its remaining shares in the banking giant, making a tidy profit of $12 billion for its troubles. Investors cheered news of the sell-off, with Citigroup shares jumping about four percent Tuesday. The teetering company received $45 billion beginning in late 2008 as part of the Troubled Asset Relief Program. It paid back $20 billion in preferred stock, while another $25 billion was converted to 7.7 billion common shares held by the government, Reuters reported. Those remaining shares ...
TARP Price Tag Down to $25 Billion, CBO Finds
By David Knowles - AOL News(Nov. 29) -- Talk about bang for your buck! The Congressional Budget Office said today that the final price tag for the Troubled Asset Relief Program would total $25 billion when all is said and done. Considering that the U.S. government originally plunked down $700 billion to help rescue the nation's teetering financial system, the new estimate comes as a welcome surprise. As the nation's largest banks began paying back the federal government with interest for the loans, the amount owed the taxpayers has slowly dwindled away over the past two years. As for the outstanding balance, the CBO ...
Bloomberg Report Shows TARP Profits Top Treasury Bond Returns
By Steven Hoffer - AOL News(Oct. 20) -- Returns on the Troubled Asset Relief Program used to bail out the financial industry, better known as TARP, generated higher profits for taxpayers than 30-year Treasury bonds, according to a Bloomberg report. The government earned $25.2 billion on its investment of $309 billion in the financial sector, which many critics originally believed would result in losses of hundreds of billions of dollars. However, concerns persist regarding the TARP program. "From the perspective of the taxpayers getting their money back, TARP has been a great success," Todd Petzel, chief investment ...
Obama's Economic Message: We Can't Hear You
By Alex Wagner - Politics DailyOn Friday, the Bureau of Labor Statistics released September's Employment Situation Summary -- the latest stats on American employment (and unemployment), and the last such data before the November elections. The results? Unemployment is stuck at 9.6 percent and the country lost 95,000 jobs. In what has become a monthly exercise in seeing the glass half full or half empty, the White House will defend its steps to rescue the economy and create jobs, while the GOP will use the very same figures to show just how far the country has been run off course. In the days before last month's jobs stats ...
Maxine Waters Investigation: Top 3 Most Intriguing Subplots
By David Knowles - AOL News(Aug. 9) -- On Monday, the House ethics committee detailed its allegations of misconduct by California Rep. Maxine Waters in a 10-page "statement of alleged violation." While the general substance of the report was already laid forth to the public a week ago -- namely, that Waters had helped procure just over $12 million in TARP loans for a bank at which her husband owned significant stock holdings -- the specifics added color to what should prove a contentious inquiry. Ms. Waters staunchly maintains that she has not broken House ethics rules and says she will clear her own name as well as ...
Maxine Waters Investigation: The Feds
By David Knowles - AOL News(Aug. 9) -- What did they know, and when did they know it? As the House of Representatives proceeds with its ethics investigation of Maxine Waters, a big question will be why the Treasury Department decided to award a bank with ties to Waters and her husband $12 million in TARP funds. Two people who might be able to assist in that matter are Rep. Barney Frank, D-Mass., and former Treasury Secretary Henry Paulson. What role did Barney Frank play? According to the House committee's "Statement of Alleged Violations," in September 2008, as the U.S. housing market was entering into free-fall, ...
Maxine Waters Investigation: The Bank
By David Knowles - AOL News(Aug. 9) -- At the heart the allegations of ethical misconduct made against California Rep. Maxine Waters is the relationship among the congresswoman, her husband and OneUnited Bank. According to the House ethics committee's "Statement of Alleged Violation," OneUnited routinely donated to Ms. Waters' campaigns for public office, and her husband, Sidney Williams, owns large amounts of the bank's stock after serving as its president as well as a member of the board of directors. On behalf of OneUnited, Waters set up a 2008 meeting with between the bank and then-Treasury Secretary Henry ...
Elizabeth Warren: Bank Watchdog Who Belongs on Supreme Court
By Donna Trussell - Politics DailyOn Monday CNN reported that Elizabeth Warren, Harvard law professor and chair of the Congressional Oversight Panel for the Troubled Assets Relief Program (TARP), made the short list of nominees to replace Justice John Paul Stevens. What a difference a year makes. I called it here on Politics Daily last May, but back then I was dreaming more than predicting. ...
Chaos Theory: The Banks Are Back; Break Out the Chianti
By Robert and Donna Trussell - Politics Daily...
Republicans, Fiscal Responsibility, and $23.7 Trillion
By Michael Roberts - Politics DailyNeil Barofsky, the special inspector general for the Troubled Asset Relief Program (TARP), made headlines when he estimated that the Obama administration may have committed as much as $23.7 trillion to patch up the U.S. economy. This figure, and fiscal responsibility in general, should be a galvanizing force for the Republican Party in upcoming political battles.Twenty-three-point-seven-trillion-dollars is a hard number to get your head around. For the sake of simplicity, we'll round up to $24 trillion from here on. After all, if we learned anything from the Obama administration these past six ...
Follow Politics Daily
POPULAR
- Nancy Pelosi Confirms House May Skip Up or Down Vote on Senate Health Bill
- Debrahlee Lorenzana: A Double Take on Those Double D's
- Palin Earnings Estimated at $12 Million
- Campbell Brown Quits CNN With Shockingly Frank Farewell
- The Five Most Racist Obama Cartoons?
- Soraya M., Stoned to Death for Being an "Inconvenient Wife''
- Jimmy Carter Leaves Church Over Treatment of Women
- No posts are available.
News From Our Partners
- Dragon arrives at space station in historic 1st
- Picking new leader, Egyptians search for superman
- Egyptians vote in first free presidential vote
- Moon chips from Vegas casino mogul sent to NASA
- Egyptians vote to rid nation of autocratic rule
- More Stories »
- Romneys Love Fancy World of Dressage Riding
- Rudy Giuliani: Mitt's Great. I'm Just Better
- 'Masters of the Universe' Sure Have Fragile Egos
- Romney: My Mistakes 'Haunt Me'
- Newt Lauds Romney: He's Like Eisenhower
- More Stories »
- The 7 Best Moments from Sunday Talk
- Know Your Enemy
- Cannes’s Mischief Maker
- Cut It Out, Internet Bullies!
- Cut It Out, Internet Bullies!
- More Stories »
- Ambition Counteracting Ambition
- Robert Blagojevich Speaks Out
- In Iowa, Obama Calls Romney's Words 'A Cow Pie of Distortion'
- In Iowa, Obama Calls On Congress to Act on Clean Energy Tax Credits
- Romney Has Interesting Morning in Inner-City Philly
- More Stories »
Top News
More News
More on Aol
Local News
More Blog/Sites
Sites and Services
HuffPost Politics