Blog Entries tagged 'Congressoinal Oversight Panel' Blog Entries tagged 'Congressoinal Oversight Panel' Sat, 01 Jan 2011 08:18:14 +0100 FeedCreator 1.7.2 Letting Geithner off easy on the TARP

Tim Geithner once again says taxpayers are getting a good return on the funds they provided banks through the Troubled Asset Relief Program.

And his line about 75 percent of the money being repaid may be true enough. It may even reflect this uncomfortable fact.

But 91 banks missing their dividend payments last month is hardly something to write home about.

I'll let Yves Smith go on about how bad the deal was for taxpayers from the  go.

(But here's the mon [...] Tue, 22 Jun 2010 23:00:00 +0100 Timothy Geithner TARP Obama Administration financial market reform financial crisis Congressoinal Oversight Panel compliance Banks banking reform Banking bailouts Financial reform going nowhere fast

I see that the slow boat to financial reform continues to drift sideways, as Senate Banking Committee member Bob Corker followed Paul Volcker's call for action yesterday with a sorry-no-can-do.

Unlike health-care reform, Democrats will need the support of a Republican like Corker to get a bill containing resolution authority for big banks, derivatives regulation, and consumer protection enacted this year. Only one piece of legislation can be passed through the budget reconciliation [...] Wed, 31 Mar 2010 23:00:00 +0100 Senate Banking Committee Risk Regulation Paul Volcker Federal Reserve Consumer Financial Protection Agency Congressoinal Oversight Panel Congress compliance Chris Dodd banking reform Banking bank failures bailouts Washington blasted for coddling banks

A conference on financial reform held today by the Roosevelt Institute really tells it like it is when it comes to what's going on in the nation's capital. And "it" isn't pretty. 

I just heard Congressional TARP cop Elizabeth Warren, for example, accuse banks of "bullying" Washington into doing its bidding over consumer protection.

In the report accompanying the proceedings, Warren insisted that the proposed financial consumer protection agenc [...] Tue, 02 Mar 2010 23:00:00 +0100 Obama Administration Federal Reserve credit-default swap Credit Ratings Consumer Financial Protection Agency Congressoinal Oversight Panel Congress compliance Chris Dodd Banks banking reform Banking bailouts For bailed out banks, it's business as usual

Surely, the recent report from the Congressional Oversight Panel that banks have done little to address the toxic assets on their books, underscores a fundamental point:  The government bailout has mostly allowed the usual suspects to keep on conducting business as usual.

In fact, here's more evidence. A bunch of banks have come up with new and improved products and investments, and, while they don't have the potential to bring down the global economy, they sound pretty ris [...] Mon, 10 Aug 2009 23:00:00 +0100 UBS Morgan Stanely Smith Barney JPMorgan Chase investments credit default swap Congressoinal Oversight Panel Citigroup