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TARP Congressional Oversight Panel - Full Decommissioning Report for April 2011 Expiration

TARP Congressional Oversight Panel - Full Decommissioning Report for April 2011 Expiration

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Published by gonzodave
This Decommissioning Report states loudly that the anticipated costs of the 2008 TARP were NOT incurred because of the failure to provide aide to Main Street foreclosures.

This unspent money was compounded by the removal of another bill recently by H.R. 830: FHA Refinance Program Termination Act which received only 245 applications from homeowners instead of the anticipated 1.5 million.

Vast billions intended for American homeowners were not spent.

I ask why the cut in social programs now underway in Congress?

~gonzodave
This Decommissioning Report states loudly that the anticipated costs of the 2008 TARP were NOT incurred because of the failure to provide aide to Main Street foreclosures.

This unspent money was compounded by the removal of another bill recently by H.R. 830: FHA Refinance Program Termination Act which received only 245 applications from homeowners instead of the anticipated 1.5 million.

Vast billions intended for American homeowners were not spent.

I ask why the cut in social programs now underway in Congress?

~gonzodave

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Published by: gonzodave on Mar 19, 2011
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03/19/2011

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Congressional Oversight Panel
MARCHOVERSIGHT REPORT
*
 
March 16,2011
*
Submitted under Section 125(b)(1) of Title 1 of the Emergency EconomicStabilization Act of 2008, Pub. L. No. 110-343
 
The Final Report of the Congressional OversightPanel
 
2
Table of Contents
 
Glossary of Terms ................................................................................................................7Executive Summary .............................................................................................................9Section One:I. Introduction ..................................................................................................................13A. Key Events of the Financial Crisis .........................................................................141. Events Leading up to Enactment of EESA .......................................................142. Initial TARP Investments in the Largest Institutions .......................................23B. Overview of Government Efforts ..........................................................................251. Federal Reserve .................................................................................................252. FDIC .................................................................................................................293. Treasury Department ........................................................................................304. Coordinated Action ...........................................................................................32II. Banks............................................................................................................................38A. Capital Infusions and Bank Balance Sheets...........................................................381. Summary of COP Reports and Findings ...........................................................382. Panel Recommendations and Updates ..............................................................463. Lessons Learned................................................................................................63B. Guarantees and Contingent Payments ...................................................................651. Background .......................................................................................................652. Summary of COP Report and Findings ............................................................663. Panel Recommendations and Updates ..............................................................674. Lessons Learned................................................................................................67
 
3C. Global Context and International Effects of the TARP .........................................681. Background .......................................................................................................682. Summary of COP Report and Findings ............................................................703. Panel Recommendations and Updates ..............................................................704. Lessons Learned................................................................................................71III. Credit Markets: Small Business and Consumer Lending ............................................72A. Background ............................................................................................................721. Small Business Lending ....................................................................................722. Consumer Lending ............................................................................................753. Government Efforts to Stimulate Small Business and Consumer Lending ......76B. Summary of COP Reports and Findings ................................................................81C. Panel Recommendations and Updates ...................................................................831. Current State of Commercial and Industrial Lending .......................................832. Consideration of Alternatives ...........................................................................843. Small Business Lending Fund ..........................................................................84D. Lessons Learned.....................................................................................................85IV. Foreclosure Mitigation .................................................................................................86A. Background ............................................................................................................87B. Summary of COP Reports and Findings ................................................................91C. Panel Recommendations and Program Updates ....................................................951. Transparency .....................................................................................................952. Compliance .......................................................................................................973. Goals .................................................................................................................984. Streamlining ......................................................................................................995. Program Structure ...........................................................................................100

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