Treasury Department Secretary Timothy Geithner defended the effectiveness of the $700 billion financial rescue program known as TARP, as it prepares to wind down this fall. Judy Woodruff reports on Tuesday’s hearings on the financial rescue package. Continue reading
Judy Woodruff talks with Elizabeth Warren, chair of the Congressional Oversight Panel about the effectiveness of the TARP bank bailout and a program aimed at helping homeowners steer clear of foreclosures. Continue reading
Question: Some have said that big banks, like Citi or Bank of America, should have been allowed to fail. Given their size, could the FDIC really have covered the insured deposits? Or would the FDIC have to have been bailed … Continue reading
Neil Barofsky, the special inspector general assigned to monitor the banking bailout, discusses his office’s ongoing investigations into potential fraud in the TARP program and recent warnings on taxpayer risk. Continue reading
The Special Inspector General for TARP said Tuesday that the Treasury Department should do more to safeguard taxpayer dollars in the banking rescue plan. Kwame Holman reports. Continue reading
Question: Is there an opportunity for individual investors who are not super-rich to participate in the new Toxic Asset plan? Maybe something like a mutual fund, or the Treasury’s non-competitive bid process? Paul Solman: Supposedly yes. From an AP dispatch … Continue reading
As turmoil continues in the U.S. banking industry, speculation is intensifying over whether the government should take larger ownership stakes in banks. Columnist Paul Krugman and former FDIC chief William Isaac weigh the pros and cons.
With half of the $700 billion in financial industry rescue funds already allocated, new questions are emerging over exactly how banks have used the money. A financial reporter and a top GAO official examine the issue. Continue reading