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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 ...
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 ...
TARP Watchdog Complains Treasury Doesn't Cooperate
By Bonnie Goldstein - Politics DailyOn Tuesday morning, Neil Barofsky, the special inspector general appointed last fall to audit and investigate fraud or abuse of the Treasury Department's Troubled Asset Relief Program, presented his quarterly report to members of the House Oversight and Government Reform Committee. ...
Barack Obama: Gordon Gekko For the People
By Tommy Christopher - Politics DailyBarack Obama has come under fire lately for using hardball tactics when dealing with businesses being bailed out by taxpayers. Not surprisingly, most of this comes from the right. We all remember the Republicans' reaction to restrictions on bailed-out CEO compensation. Then, they showed solidarity with homeowner-mocking futures traders. And who can forget the sanctity of a bonus contract, versus a union agreement? More recently, my nornally level-headed friend, Ed Morrissey, has been spinning a narrative of President Obama as "madman" loose cannon, abusing his power against poor, helpless ...
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