TARP Quarterly Report – October 2013

29 Oct 2013

A report from the TARP Inspector General. 518 pages in PDF form. Can’t they make these reports easier to read? The Executive Summary does not do justice.

TARP Quarterly Report – October 29, 2013 – Office of the Special Inspector General for the Troubled Asset Relief Program

First sentence of the Executive Summary…

The financial system has stabilized in part due to five years of the TARP bailout, but the toxic corporate culture that led up to the financial crisis and TARP has not sufficiently changed.

Doesn’t give you the warm fuzzies.

Apparently the government took a $9.7 billion dollar loss from the money loaned to General Motors. This is despite Obama trumpeting General Motors paying back its loans in 2010.

Hopefully some details will be posted from this report later pending time constraints.


Federal Crisis Inquiry Commission – Greenspan

7 Apr 2010

Today, Alan Greenspan testified at the Federal Crisis Inquiry Commission (FCIC) hearings.

There was some interesting things that he said concerning what he believes to be the causes of the 2008 financial crisis.

The causes were heavy investment of subprime mortgage backed securities by foreign and government sponsored entities (GSEs – Fannie and Freddie), the withdrawal of private short term credit, the insufficiency of capital available to intermediate financial companies, and a failure of the regulatory system.

Greenspan’s Testimony – 04/07/2010

Homepage – Financial Crisis Inquiry Commission