2008 Financial Crisis

The Troubled Asset Relief Program (TARP) is a program initiated by the US government, funded by taxpayers, in October 2008 to bail out the banking and housing sector after the 2008 financial crisis. Due to the program’s complexity and “repayment” schemes, there has been different estimates of what TARP would ultimately cost.We looked at the various TARP estimates in August, 2011 trying to shed some light on two very fundamental questions — (1) Where has Uncle Sams’ bailout money gone (2) Has...Read Full Story

Where to start with this one. First I have to say I am disappointed in BW on this. The article is totally slanted and if I am really looking at it, IMO a bit misleading (we will get into that as we go through the piece). This belongs in an opinion section, not a “news” site.There is some stuff here that those responsible for writing it had to know was….let’s say… in a gray area? I debated how to do this and decided rather than be accused of cherry picking sections in an attempt to make my...Read Full Story

Fri, Mar 23 2012 13:33 IST | 42 Views | Add your comment SHARE: The US Treasury Department said Thursday that American International Group (AIG) repaid an additional $1.5 billion, a further step to exit from the government's financial rescue move. After this repayment, the government's remaining investment in AIG stands at about $45 billion. During the financial crisis, the US government's support for AIG through the Treasury and the Federal Reserve Bank of New York totaled $182 billion...Read Full Story

About Dec. 31, 2011: Let's make 2012 a change for the better. Unfortunately due to my financially helping others (which requires of me to pay over USD $1000 every month) I hit rock bottom yesterday and literally now have $29.94 in my bank account. Sometimes I don't know what to do for food or even if I can continue paying for this blog. If you think my blog Teknosis is of value and would like to help keep it and my efforts alive please donate (PayPal Donate button right below this...Read Full Story

According to the latest information provided by a federal watchdog, a government’s program designed to assist the homeowners that live in the states most hit by the housing crisis is veering off course. The Special Inspector General of the Troubled Asset Relief Program mentioned in his report that only 3% of the $7.6 billion in the Hardest Hit Housing Markets project meant for 18 states, as well as the District of Columbia, was tapped by December 31. As watchdog reports, the funds were spent...Read Full Story

Apparently debt collection agencies aren't only making things difficult for debtors. Executives at Oxford Collection Agency have pled guilty to committing wire fraud, bank fraud and money laundering in connection with a $10 million scam, the government's bailout watchdog announced Tuesday. As part of the scam, Richard and Peter Pinto, executives at Oxford, bilked multiple banks out of millions of dollars. "No one was safe from these predators," Christy Romero, the Special Inspector General...Read Full Story

The special inspector general for the Troubled Asset Relief Program is expected to tell Congress on Wednesday that 351 small banks with $15 billion in outstanding TARP loans face a "significant challenge" in raising new funds to repay the government, according to The Wall Street Journal. Austin Real Estate article courtesy of Austin Business News - Local Austin News | Austin Business Journal who writes for Austin Business News - Local Austin News | Austin Business Journal. You can find...Read Full Story

Telegraph.co.ukPaulson Shorting European Sovereign Bonds, Buying Credit-Default Swaps -BloombergWall Street JournalJohn Paulson told Paulson & Co. investors that he's shorting European sovereign bonds and buying credit-default swaps on European debt, Bloomberg News reported Monday, citing a person familiar with the situation. During an investor call, ...Spanish concerns escalateStuff.co.nzEuropean stocks gain on upbeat US dataNinemsnGLOBAL MARKETS-Stocks falter as Spain renews debt crisis...Read Full Story

Lehman Bros. Case: Geithner Ignores Subpoena to TestifyLehman Bros. Case: Geithner Ignores Subpoena to Testify | Print | Written by Bob Adelmann Monday, 20 February 2012 17:30 The creditors’ committee representing what’s left of Lehman Brothers asked bankruptcy Judge James Peck last week to force Timothy Geithner (left) — currently Obama’s Treasury Secretary but President of the New York Fed at the time of the Lehman Brothers’ bankruptcy — to answer some questions. The...Read Full Story

(Reuters) – Morgan Stanley is interested in buying all of Citigroup Inc’s stake in their wealth management joint venture this year in what could be a roughly $10 billion deal, said people familiar with Morgan Stanley management’s thinking. Under the terms of the Morgan Stanley Smith Barney joint venture, Morgan Stanley will get an option starting May 31 to buy 14 percent more of the business from Citigroup, adding to the 51 percent stake it already has. It has options to buy the remaining...Read Full Story