Follow the money: Bailout tracker. Troubled ASSET RELIEF PROGRAMFinancial rescue plan aimed at restoring liquidity to the financial markets. Program. Committed. Invested. Description. 1997 Balanced Budget and Taxpayer Relief Act 2001 Economic Growth and Tax Relief. 2009 American Recovery and Reinvestment Act. Act of 2008, the stimulus. The Emergency Economic Stabilization Act. Relief Program; Economic Stimulus Bill of 2008. The Troubled Asset Relief Program was. Purchase of GSE debt and MBS. Economic Stimulus Act of 2008 170 170 170. American International Group. Treasury later offered another $3. Also sets aside funds to backstop potential losses to government from purchases of mortgage- backed securities and other securities backed by consumer loans. Making Home Affordable$5. Multipronged foreclosure prevention plan to help as many as 9 million borrowers by modifying or refinancing loans. ![]() Aim is to provide liquidity to foreign financial institutions. Aim is to reduce rates on home loans. Aim is to reduce rates on home loans. Money Market Investor Funding Facility$6. Programs to help money market funds by lending to funds directly. Primary Dealer Credit Facilityn/a$0. Long- time lending facility for commercial banks that was opened to investment banks for first time in March 2. Term Asset- backed securities Loan Facility$1 trillion$4.
Program to buy consumer loan- backed securities. Aim is to revive the securitization market for consumer loans like credit cards and auto loans. Aim is to provide financing to companies that provide student loans. American Recovery and Reinvestment Act$7. Infrastructure spending, funding for states, help for the needy and tax cuts for individuals and businesses to stimulate the economy. The funds are awarded through a competitive process to companies that can increase fuel standards at least 2. AIG must pay 3% plus 3- month Libor rate to government in interest on the 5- year loan. Consumer Debt Relief Program Economic Stimulus Act 2008 Pdf613 - Economic Stimulus Act of 2008 About GPO Should the Obama administration launch a massive stimulus plan upon. Asset Relief Program. Government stakes in subsidiaries$2. Government to hold preferred interest in entities holding all the common stock of American Life Insurance Company and American International Assurance Company, two life insurance holding company subsidiaries of AIG. TARP investment$7. Treasury later offered another $3. ![]() Other$8. 5 billion$0. Government giving AIG $8. FDIC bank takeovers. Cost to FDIC fund that insures losses depositors suffer when a bank fails. Other financial initiatives. Other programs designed to rescue the financial sector. Program. Committed. Invested. Description. Credit union deposit insurance guarantees$8. Temporary guarantee of all corporate credit union deposits above former $2. Money market guarantee program$5. ![]() Treasury program to help money market funds by insuring against losses. Central and Wes. Corp credit unions$5. Cost to NCUA credit unions, with backing of government, to place two troubled credit unions into conservatorship. U. S. Central Federal Credit Union investment$1 billion$1 billion. Cost to NCUA credit unions, with backing of government, to help troubled credit union cover anticipated losses on asset- backed securities. Aim is to restore liquidity to the corporate bond market and provide long- term financing to banks. American Recovery and Reinvestment Act - Timeline - Slaying the Dragon of Debt - Regional Oral History Office. SUMMARY: The American Recovery and Reinvestment Act of 2. Stimulus Bill, was one of the first major pieces of legislation passed by the new Democratic Congress in 2. President Barack Obama. The legislation was a Keynesian attempt to lift the United States economy out of a major recession through federal spending. DESCRIPTION: The United States slipped into recession in December 2. Great Depression. The collapse of the housing market bubble and the related subprime mortgage crisis were the most direct causes of this recession. One result of these problems was the decline of both consumer and corporate credit and thus monetary liquidity across the economy. The question of how to best address the recession was the major issue of the 2. Candidate Obama argued that the economy needed a massive stimulus to get moving again. With the inauguration of President Obama and the beginning of the Democratic- dominated 1. Congress in January 2. Initial drafts of the bill called for as little as $2. The spending program was to impact most sectors of the economy and included aid to the unemployed, infrastructure projects, health care and education, law enforcement and homeland security, and new energy programs. In addition to the stimulus spending, the bill included new tax expenditures, including a home- buyers credit and auto- buyers credit. The estimated cost of the final bill was $7. It passed the House with no Republican votes and it passed the Senate with only three Republican votes. The legislation was signed into law by President Obama on February 1. Like the Emergency Economic Stabilization Act of 2. In addition to the critiques by small- government conservatives, others who are concerned about the increasing size of the national debt question the long- term risk associated with the stimulus package. Washington, DC: CQ Press, . Washington, DC: CQ Press, . All Rights Reserved. Comments & Suggestions.
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