Tag Archives: Troubled Asset Relief Program

CBO – Taxpayer Cost is $31B for Troubled Asset Relief Program

To AutoInformed’s knowledge not one person at the firms responsible has been successfully prosecuted for what was rampant financial fraud that caused the housing and stock markets to collapse as the ratings agencies paid by the swindlers continued to claim the complex financial instruments issued were investment grade when they were indeed junk. Junk bonds – never has a financial instrument so honestly been named. Continue reading

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Treasury Makes $245 Million in Added Profits from TARP

TARP’s bank programs have already earned a significant profit for taxpayers. Including the expected proceeds from today’s transaction, Treasury has now recovered $264 billion from TARP’s bank programs through repayments, dividends, interest, and other income – compared to the $245 billion initially invested. Continue reading

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U.S. Treasury to Sell $2.7 Billion of Ally Preferred Securities

As part of this corporate welfare program, Treasury invested a total of $17.2 billion in a failing Ally. This was the result of what critics called reckless lending practices in the home mortgage markets, which caused huge Ally losses when the housing bubble burst in 2009. Continue reading

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