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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Paulson on Paulson’s Plan
By MoneyRates team | Money-Rates Columnist
Treasury Secretary Paulson lobbied Congress very hard for the $700 billion in bailout funds needed to buy toxic mortgage securities. After Congress approved the plan, Paulson reversed course and the main use of the TARP funds has been capital injections directly into troubled financial companies. Unfortunately, as companies like Citigroup, AIG, Bank of American, Wells [...]
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Fed Chairman Bernanke on Money Market Mutual Funds
By MoneyRates team | Money-Rates Columnist
Federal Reserve Chairman Ben Bernanke addressed the mutual fund money market industry in comments made before Congress on November 18, 2008. The huge amount of money withdrawn out of money funds since September has been an ongoing aggravation in the credit crisis. Bernanke and the Fed have already addressed investor fears regarding money funds with [...]
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