(New York Times) — The Home Buyer Tax Credit contained in the American Recovery and Reinvestment Act of 2009 has been given much credit for buoying the housing market. But recent housing market data suggest that the credit’s effect was limited, even while it lasted. The law passed in February 2009 included a temporary 10 percent capped […]
(AJC) — The taxpayers’ investment in Georgia banks has by and large been a good one, but last quarter a handful of small community banks did not cut a quarterly check to repay the Treasury Department’s bank bailout program. Five Georgia banks in August were listed as having missed at least one quarterly Capital Purchase […]
(Wall Street Journal) — The U.S. Treasury Department said Friday the total amount repaid to taxpayers for government funds used to bail out U.S. companies has surpassed, for the first time, the amount of outstanding debt.The Treasury, in its May report to Congress on the Troubled Asset Relief Program, reported TARP repayments reached $194 billion, which […]
(CNN Money) — It might seem that the banking sector’s bailout saga is nearing its close, leaving room to focus on other catastrophes like the European debt crisis or the Gulf oil spill, but some small banks across the country that benefited from TARP are still struggling to stay afloat, and many more will likely […]
(WSJ.com) — State regulators shuttered small banks in Illinois, Missouri, Georgia and Michigan, including a 23-branch community bank that failed despite having received an infusion from the government’s Troubled Asset Relief Program. So far this year, 72 banks have collapsed and the spate of failures is expected to continue throughout 2010. Although there are signs […]