MoneyRates Blog
What are Banks Doing with TARP Money?
By MoneyRates team | Money-Rates Columnist
The Treasury Department is rumored to have committed nearly half of the $700 billion in taxpayer funds allocated by Congress in their economic recovery bill. Congressman, financial reporters, and private citizens have been increasing their questions of where the funds are actually going. Many major banks, which have received multi-billions in TARP dollars, have declined [...]
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The FDIC Fights Back Against Bloomberg News Article
By MoneyRates team | Money-Rates Columnist
An online piece on Bloomberg News from reporter David Evans suggesting that the FDIC may need up to $150 billion to cover bank failures has created a stir to the point that the FDIC has directly responded to the article. In the article Evans suggested that the US taxpayer ultimately could end up paying the [...]
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Government Bailouts May Increase Long Term Interest Rates
By MoneyRates team | Money-Rates Columnist
The price tag for the US taxpayer of the government bailouts is reaching staggering proportions. To date the estimated costs has been reported at:
$29 billion for Bear Stearns
+$100 billion for Freddie Mac and Fannie Mae
$85 billion for AIG
$400 billion for the FDIC failed bank fund
$700 billion for the entity which will buy mortgage securities from [...]
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