2008 Financial Crisis

Nov. 6 (Bloomberg) -- Elizabeth Warren, chairman of the Congressional Oversight Panel for the Troubled Asset Relief Program, talks with Bloomberg's Carol Massar, Adam Johnson and Jon Erlichman about the outlook for TARP. Warren, speaking from Washington, also discusses the transparency of assets backed by government funds and systemic risk created by banks that are perceived as too big to fail. (Source: Bloomberg) Read Full Story

During the demand for a bailout Former Secretary of the Treasury Hank Paulson was in "constant telephone contact with Goldman chief Banfein" When the hearings for the "bailout, rescue plan, recovery" plan were taking place I kept thinking Christ Paulson is the inside heist guy with a gun pointed at the heads of our Reps saying "give me the $ or I will pull the trigger" McClatchey has been investigating Goldman Sachs for five months They have been digging into how (can you say Hank Paulson) Goldman Sachs not only stayed afloat but how they got out before the fall and have profited big ... Read Full Story

WASHINGTON (Reuters) - The U.S. government would gain far-reaching new powers to regulate, and even shut down, large financial firms that threaten economic stability under a draft bill released in Congress on Tuesday. Congressional Democrats and the Obama administration agreed on the legislation, which seeks to protect taxpayers from having to pay for more bailouts, while holding financial firms to much higher capital standards. Under the bill, the Federal Reserve could limit credit exposures, block acquisitions, restrict pay and bonuses and, in extreme cases, order bankruptcy at financial holding companies it finds severely undercapitalized. The bill states that the Federal Deposit Insurance Corp -- ... Read Full Story

WASHINGTON (Reuters) - The Obama administration is facing stepped up pressure to provide more details about its efforts to help struggling homeowners stay in their homes. U.S. Treasury Secretary Timothy Geithner earlier this month said about half a million American families are now participating in a home loan modification program initiated by the Obama administration to try to slow the rate of foreclosures. "But the measure of success for the Home Affordable Mortgage Program (HAMP) is not only the number of borrowers who enter the process," said New York Bank Superintendent Richard Neiman, a member of the Congressional Oversight Panel (COP) which oversees the ... Read Full Story

WASHINGTON (Reuters) - The U.S. Treasury Department is considering ways to provide support through its bailout program to community development loan funds, a senior Treasury official said on Friday. Gene Sperling, counselor to Treasury Secretary Timothy Geithner, said loan fund support could be developed as an extension to efforts unveiled this week to provide more capital to small banks and other community lenders through the Troubled Asset Relief Program (TARP). "This is not an easy hurdle. But we are interested in looking and exploring whether, particularly on the liquidity side, there are things we can do," Sperling told a conference on banking services for ... Read Full Story