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Latest Public-Private Investment Program for Legacy Assets Stories

2010-07-26 05:05:00

WASHINGTON, July 26 /PRNewswire/ -- Well-respected Los Angeles developer Sonny Astani unleashes a hard-hitting ad campaign this week. The campaign takes issue with the way the world of commercial financing has reshaped itself in the wake of a weakened economy and poor decision-making on the part of the FDIC. Even more specifically the manner in which companies like Starwood Capital, TPG Capital, Perry Capital and WLR LeFrak have taken advantage of the FDIC's takeover of failed...

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2009-09-29 11:00:00

The $700 billion Troubled Asset Relief Program assembled in Washington a year ago is going to finally focus on toxic assets, administration officials said. Although named the Troubled Asset Relief Program -- or TARP -- the program has done a lot of things, but buying toxic assets from banks has not yet been one of them. The U.S. Treasury has used the TARP funds to buy preferred bank stock and later, in some cases, convert this to common stock. It has used the funds to prop up automotive...

2009-09-15 12:39:00

NORWALK, Conn., Sept. 15 /PRNewswire-USNewswire/ -- In anticipation of the House Financial Services Oversight and Investigations Subcommittee hearing on "Utilizing Technology to Improve TARP and Financial Oversight", Asset Oversight Services (AOS) was invited to address the Subcommittee and its staff on how current technology solutions in the private sector could be applied by the federal government to improve transparency and oversight of federal programs, such as the Troubled Asset...

2009-08-21 07:38:24

While the U.S. economic recovery appears firmer day by day, there is that nagging feeling something may have been left behind -- toxic assets, perhaps. Indeed, the buildup of failed banks this year shows something is still amiss in the financial sector, as toxic assets continue to haunt the industry. Mid-sized or regional banks are especially vulnerable, but occasionally a failure will earn national attention, like the failure of Colonial Bank a week ago -- the sixth largest U.S. bank failure...

2009-08-17 14:56:24

The U.S. Treasury and Federal Reserve announced Monday they would extend a consumer lending program for six months. The Term Asset-Backed Securities Loan Facility was set up to purchase securities backed by consumer automobile and credit card loans. A commercial loan facility was also set up to buy loans backed by commercial real estate. In a joint statement, the Treasury and Fed said conditions in financial markets have improved considerably in recent months, but markets for asset-backed...

2009-07-08 17:33:03

The U.S. Treasury kicked off the Public-Private Investment Program Wednesday, naming nine companies to serve as asset managers. The nine companies have 12 weeks to raise $500 million from private investors in anticipation of an auction of troubled bank assets. The federal government is investing $30 billion in the program designed to take toxic assets off of banks' books, which in turn will allow banks to increase lending. The intent is to use public and private capital to buy $500 billion in...

2009-04-14 12:18:00

DALLAS, April 14 /PRNewswire/ -- In an exclusive article in the April issue of DS News, the only news source dedicated entirely to the residential mortgage default servicing industry, Adam Weinstein, a former editor of the Wall Street Journal, poses the question: did the Troubled Asset Relief Program (TARP) trickle away needed funds, making matters worse? According to a bipartisan Congressional Oversight Panel, the Treasury paid more for the assets it purchased under TARP than their market...

2009-03-23 14:41:31

The U.S. Treasury unveiled its plan to free banks from frozen assets Monday, using a partnership with the private sector to give more clout to taxpayer dollars. In a White House briefing, U.S. Treasurer Tim Geithner said the key to the program was to balance risk between the government and the private sector and to use private investors to price toxic assets that have become frozen in the marketplace. The great risk we face now is that after a long period of ... excessive risk-taking, that...

2009-03-23 11:45:18

The U.S. Treasury unveiled its plan to free banks from frozen assets Monday, using a partnership with the private sector to give more clout to taxpayer dollars. The program is designed to develop funds to buy banks' loans and securities to jump-start lending, the Treasury said. To purchase loans stuck in a frozen securities market, the Federal Deposit Insurance Corp. will review assets banks want to sell and see how much funding the FDIC will guarantee, up to a 6-to-1 debt-to-equity ratio. At...

2009-03-23 06:33:02

U.S. Treasury Secretary Tim Geithner announced he will unveil the details of a public-private bank bailout strategy Monday. As mapped out in an opinion article in The Wall Street Journal, Geithner bills the Public-Private Investment Program as an opportunity for investors as much as a public burden, that will take a substantial share of real-estate related assets off bank ledger sheets and, it is hoped, free lending to consumers and businesses. The program will start with a $500 billion...


Word of the Day
mallemaroking
  • Nautical, the visiting and carousing of sailors in the Greenland ships.
This word is apparently from a confusion of two similar Dutch words: 'mallemerok,' a foolish woman, and 'mallemok,' a name for some persons among the crew of a whaling vessel.