March 10th, 2010
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Senator Mark Warner, a Virginia Democrat, and Senator Bob Corker, a Tennessee Republican, are near agreement to create a mechanism that will dissolve companies in an orderly way without using taxpayer funds, according to two Senate aides who declined to be identified yesterday because the talks are private. Treasury Secretary Timothy Geithner met Warner and [...]
February 26th, 2010
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A White House official in a statement yesterday signaled a willingness to accept less than a separate agency. The statement outlined the powers legislation must provide for a consumer authority and dropped references to a separate agency to police banks for lending abuses.
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December 28th, 2009
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In February 2003, their regulator issued a report saying the companies were taking on too much risk by using implicit government backing to plunge deeper into the mortgage market.
The government-sponsored entities would pose a systemic threat to the economy in the [...]
December 26th, 2009
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The two companies, the largest sources of mortgage financing in the U.S., are currently under government conservatorship and have caps of $200 billion each on backstop capital from the Treasury. Under a new agreement announced yesterday, these limits can rise as needed to cover net worth losses through 2012.
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December 22nd, 2009
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Such questions should be answered before the government sells its stake in the company, Spitzer, Frank Partnoy from the San Diego University School of Law and William Black of the University of Missouri in Kansas City said in an op-ed piece published in todays New York Times. AIGs internal accounting documents and financial models should [...]
December 17th, 2009
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The IRS issued the guidance Dec. 11, suspending restrictions on loss deductions when companies, such as Detroit- based General Motors Co. and Washington-based Fannie Mae, sold stakes to the government as part of the Troubled Asset Relief Program.
The tax guidance was [...]
December 15th, 2009
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The Treasury is in line to get back $20 billion from New York-based Citigroup, which needed two capital injections from the government to stave off collapse. Wells Fargo plans to return all $25 billion that taxpayers invested in the San Francisco-based lender a year ago, making it the last of the nations largest banks to [...]
December 15th, 2009
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Treasury and Federal Housing Finance Agency officials are also debating whether to lower the cost of the companies dividend payments on their borrowings from Treasury, according to these people, who requested not to be identified describing the internal deliberations.
Fannie Mae and [...]
December 9th, 2009
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“The market does not appear to be giving these warrants quite their due,” said Pluris President Espen Robak, whose New York firm specializes in pricing illiquid assets such as stock options and restricted securities. Pluris estimates the JPMorgan warrants could be worth $1.5 billion.
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November 14th, 2009
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The White House wants an increase of at least $1 trillion to $1.5 trillion, according to a person familiar with the deliberations between lawmakers and the administration. Record budget deficits are pushing the national debt closer to the $12.1 trillion statutory limit.
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