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nce upon a time the U.S. government allocated $700 billion in taxpayer money to bail out failing financial institutions, creating the Troubled Asset Relief Program, or TARP. Follow the ongoing tale of where TARP funds have been spent, how this money is being used, and who is in line to receive our hard-earned taxpayer dollars…

Latest Story

  • GMAC Executive Pay Packages Questioned by TARP Panel
    Elizabeth Warren
    March 11, 2010
    Bloomberg

    March 11 (Bloomberg) -- GMAC Inc., the auto and home lender rescued by the U.S. government, may have overpaid its top executives after receiving taxpayer funds, according to a report by the panel overseeing the Troubled Asset Relief Program.

    Pay packages for executives at GMAC and other TARP recipients “raise significant questions, which the panel will continue to study,” the Congressional Oversight Panel said in a report released today. “These include whether particular levels of compensation are either necessary or appropriate.”

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TARP News

  • March 10, 2010
    SunTrust? Comerica? Fifth Third? What U.S. Bank Should Barclays Buy?

    Barclays is on the hunt for a retail bank to help it bolster its presence in the U.S., the WSJ reports.

    No deal is imminent and the U.K. bank has only just started shopping around. Here are some possible candidates, and thoughts on which might make a target more or less attractive:

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  • March 8, 2010
    FDIC wants pension funds to prop up failed banks

    Over 140 U.S. lenders folded in 2009 alone. To remedy the financial void left in their wake, the Federal Deposit Insurance Corporation wants public pension funds, which safeguard the retirement funds of millions, to buy in part or in whole the banks that couldn't manage to keep their depositors' funds.

    "Direct investments may allow funds such as those in Oregon, New Jersey and California to cut fees for private-equity managers, and the agency to get better prices for distressed assets," anonymous sources reportedly told Bloomberg News.

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TARP Reports

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Congressional Hearings

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