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TARP allowed the United States Department of the Treasury to purchase or insure up to $700 billion of "troubled assets," defined as "(A) residential or commercial obligations will be bought, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes ...
The Emergency Economic Stabilization Act created the Troubled Asset Relief Program to administer up to $700 billion. Several oversight mechanisms are established by the bill, including the Congressional Oversight Panel, the Special Inspector General for TARP (SIGTARP), the Financial Stability Oversight Board, and additional requirements for the Government Accountability Office (GAO) and the ...
The TARP originally authorized expenditures of $700 billion. The Emergency Economic Stabilization Act of 2008 created the TARP. The Dodd–Frank Wall Street Reform and Consumer Protection Act , signed into law in 2010, reduced the amount authorized to $475 billion (~$648 billion in 2023).
The Department of Treasury's recent sale of a slice of its AIG (NYS: AIG) stock seemed like a good reason to see how that old TARP -- the Troubled Asset Relief Program -- is holding up. TARP ...
The Treasury staff member responsible for administering the bailout funds was Neel Kashkari, a former vice-president at Goldman Sachs. [citation needed] In the Senate, Senator Judd Gregg (R-NH) was the leading Republican author of the TARP program while he had a multimillion-dollar investment in the Bank of America. [62] [63]
In its May Troubled Asset Relief Program report to Congress, the U.S. Treasury Department said that TARP repayments to taxpayers have surpassed the total amount of TARP funds outstanding for the ...
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