TARP the PARK

Take small business credit outside Tarp

damadril — Fri, 11 Dec 2009 16:37:05 +0000

Did you spot the big hole in the Obama speech on job creation today? Nothing new on small business access to credit – possibly the single biggest obstacle to job creation in the US. This is a huge issue for the economy, the White House and the Fed. http://blogs.ft.com/money-supply/2009/12/08/take-small-business-credit-outside-tarp/

Plans Start to TARP Main Street

damadril — Fri, 11 Dec 2009 16:03:51 +0000

Since the summer, the administration has been facing an uncomfortable dynamic in the economy. The ranks of the jobless have been growing, while big financial firms that got taxpayer bailout money have been thriving. In response, officials have been trying to recast TARP as aid for Main Street rather than Wall Street. http://www.washingtonpost.com/wp-dyn/content/article/2009/12/10/AR2009121003931.html?hpid=topnews

Obama plans TARP aid for small businesses – report

damadril — Fri, 11 Dec 2009 16:00:27 +0000

WASHINGTON, Dec 10 (Reuters) – The Obama administration plans to channel money from the government financial bailout fund to small businesses in an effort to stem the political and economic fallout of high unemployment, the Washington Post said in its Friday editions. http://www.reuters.com/article/idUSN1010423520091211

Stop TARP before more damage is done

damadril — Mon, 23 Nov 2009 17:07:15 +0000

CNN Opinion section by Sen. John Thune “But in the name of solving one problem, the Treasury Department created another by getting the government dangerously entangled in the ownership and management of what had been privately run companies and industries.” http://www.cnn.com/2009/OPINION/11/23/thune.end.tarp/

What Did TARP Accomplish?

damadril — Sat, 21 Nov 2009 14:50:24 +0000

The overall United States policy response to the crisis did well in terms of preventing spending from collapsing. Monetary policy responded quickly and appropriately. After some initial and unfortunate hesitation on the fiscal front, the stimulus of 2009 helped to keep total domestic spending relatively buoyant, despite the contraction in credit and large increase in unemployment… NY Times http://economix.blogs.nytimes.com/2009/11/19/what-did-tarp-accomplish/

House Looking At Another Stimulus Bill to Create Jobs

damadril — Sat, 21 Nov 2009 14:46:56 +0000

Momentum is building among Democrats to take unused Troubled Asset Relief Program (TARP) money and put it toward job creation. Clearly, House Democratic leaders signaled this week that they are moving full steam forward with a stimulus bill in the coming weeks. However, this plan is dividing fiscally conservative Democrats unsure of whether they can swallow another multi-billion dollar spending package. Rotor.com http://www.rotor.com/Default.aspx?tabid=510&newsid905=62628

Administration Poised to Extend TARP as Sunset Date Looms

damadril — Sat, 21 Nov 2009 14:44:44 +0000

The Obama administration is leaning toward extending the $700 billion Troubled Asset Relief Program (TARP), which is set to expire at the end of this year, through next October, according to reports from several news outlets. DSNews http://www.dsnews.com/articles/administration-poised-to-extend-tarp-as-sunset-date-looms-2009-11-19

Geithner Hopes to End Bailout Fund

damadril — Fri, 20 Nov 2009 23:36:40 +0000

“We are winding it down and will close it as soon as we can,” Mr. Geithner said of the $700 billion bailout fund, known as the Troubled Asset Relief Program. Congress approved TARP at the height of the financial crisis in October 2008 as a way to supply banks with fresh capital. NY Times http://bit.ly/EI7O2

Dems Now Identified With Wall Street

damadril — Fri, 20 Nov 2009 23:10:41 +0000

“It is pretty embarrassing for a Democratic administration and a Democratic Congress to be identified with total attention to Wall Street and nothing for Main Street and jobs,” he said. “There are a lot of Democrats who… want to see something more effective done to create employment.” Huffingpost.com http://www.huffingtonpost.com/2009/11/20/peter-defazio-dem-rep-its_n_365463.html

SBA to Use More TARP Funds for Small Business

damadril — Fri, 20 Nov 2009 20:48:37 +0000

The Treasury Department and the Small Business Administration convened a Small Business Financing Forum in which they discussed ways to expand credit to small business.

One the most prominent ideas broached at the conference was to use more of the money left over from the Troubled Asset Relief Program, or repaid by the banks, to help finance small businesses.
From WebCPA http://www.webcpa.com/news/SBA-Use-More-TARP-Funds-Small-Business-52497-1.html