Banking and the Acquisition of Toxic Assets by the US Government Essay

Banking and the Acquisition of Toxic Assets by the US Government Essay

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October 3 Congress with and Bush agreed on Tarp authority to spend 700 billion to purchase toxic assets from financial institutions (inquiry report).
25...0 billion of tarp to under newly formed Capp (explain) and end of 2008 tarp 205bilion in 707 financial institutors...i9k (inquiry report)
Tarp was to reduce availability of credit as well that assisted demand aggregate output and assist employment.


pg. (84 and 85 with regard to tarp and stimulus Thomas Sowell the housing boom and bust)


In 2008 ( ) large Investment banks, insurance companies and (holding companies) cuhs as Aig, Citigroup, Merrill Lynch suffered substantial loss from the subprime mortgage market corporate neglect of risk management (inquiry report )


As of February 2009 the largest recipients of Tarp were JP Morgan (25 billion) wells Fargo (25 billion) Aig (40 billion) Bank of American (45 billion) and citgroup (50 billion) however the government the money was also used for bailing out General Motors and other Non-Financial enterprise. In Adam Smith warned that the fund set aside by British Government for paying off the national debt was "an Obvious and easy expedient " to be "misapplied " to other purpose. And David Ricardo objected similarly on the grounds “we have I fear, neither wisdom enough nor virtue enough “for such a plan and such funds "has encouraged expenditure “and is "delusional" (Housing boom) pg. 84-85




maybe include tarp from his perspective? And focus on tarp? And its effectiveness> (Paul mason meltdown


I think it remains a very bad bill. It is a disappointment, but not a surprise, that the administration came up with a bill that is again based on trickle-down ...


... middle of paper ...


...rchased US$2.5 trillion of government debt and troubled private assets from banks. This was the largest liquidity injection into the credit market, and the largest monetary policy action, in world history


References [edit]
1.
Miskin


2.
Housing boom

3.
Thomas Thomas

4.
Global Financial Crisis

5.
Paul Mason Meltdown

6.
Financial report

7.
Bernanke-Causes of the Recent Financial and Economic Crisis". Federalreserve.gov. 2010-09-02. Retrieved 2013-05-31



TAF- Term Auction Facility’s, which made money available to all banks by auction.

TSLF,

PDCF,

AMLF,

MMiff ,

DCDPFF,

Talf

Bernanke-Causes of the Recent Financial and Economic Crisis". Federalreserve.gov. 2010-09-02. Retrieved 2013-05-31



Works Cited

miskin, financial crisis, paul mason,

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