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Daily Archives: July 20, 2009

Survey Demonstrates that Banks Can Provide Meaningful Information on Their Use of TARP Funds

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July 20, 2009 – Special Inspector General for the Troubled Asset Relief Program Survey Demonstrates That Banks Can Provide Meaningful Information On Their Use Of TARP Funds

  • “Although most banks reported that they did not segregate or track TARP fund usage on a dollar-for-dollar basis, most banks were able to provide insights into their actual or planned use of TARP funds. Over 98% of survey recipients reported their actual uses of TARP funds. Many banks reported that TARP funds allowed them to increase lending for residential and commercial loans, small business loans, credit card loans, and other types of lending. Most firms reported multiple and sometimes interrelated uses; a majority of respondents’ reported that they used the funds primarily for lending, building capital reserves and investing..”
  • Related postings on financial system

    • New GAO Reports: Drug Control, Medicare and Medicaid Fraud, Defense Critical Infrastructur e, Hurricane Katrina, FDA Medical Product Responsibilities

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    Drug Control: U.S. Counternarcotics Cooperation with Venezuela Has Declined, GAO-09-806, July 20, 2009 Improper Payments: Responses to Posthearing Questions Related to Eliminating Waste and Fraud in Medicare and Medicaid, GAO-09-838R, July 20, 2009 Defense Critical Infrastructure: Actions Needed to Improve the Consistency, Reliability, and Usefulness of DOD’s Tier 1 Task Critical Asset List, GAO-09-740R, July… Continue Reading

    Census Bureau – Voter Turnout Increases by 5 Million in 2008 Presidential Election

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    News release: “About 131 million people reported voting in the 2008 U.S. presidential election, an increase of 5 million from 2004, according to a new table package released today by the U.S. Census Bureau. The increase included about 2 million more black voters, 2 million more Hispanic voters and about 600,000 more Asian voters, while… Continue Reading

    NYT Posts Unreleased Government Report on Dangers of Using Cell Phones While Driving

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    “The following body of research, conducted by the Department of Transportation and completed in 2003, has not been made public until now. The documents pertain to the safety of using wireless communication devices while driving. The New York Times obtained the research from the Center for Auto Safety and Public Citizen, two consumer advocacy groups… Continue Reading

    Will There Be a Fight To Save American Manufacturing?

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    New York Times: “The United States ranks behind every industrial nation except France in the percentage of overall economic activity devoted to manufacturing — 13.9 percent, the World Bank reports, down a percentage point or so in a decade. The 19-month-old recession has contributed to this decline. Industrial production has fallen 17.3 percent, the sharpest… Continue Reading

    FHFA Reports Fannie Mae and Freddie Mac Foreclosure Prevention Efforts for April

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    News release: “Federal Housing Finance Agency Director James B. Lockhart released FHFA’s April 2009 Foreclosure Prevention Report detailing actions taken by Fannie Mae and Freddie Mac to prevent unnecessary foreclosures and keep people in their homes. The report includes loan modification data under FHFA’s Streamlined Modification Program, which was initiated in November 2008 but ended… Continue Reading

    Task Force Report: U.S. Immigration Policy

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    “The continued failure to devise and implement a sound and sustainable immigration policy threatens to weaken America’s economy, to jeopardize its diplomacy, and to imperil its national security,” concludes a new Council on Foreign Relations (CFR) Independent Task Force co-chaired by former Florida governor Jeb Bush and former White House chief of staff Thomas “Mack”… Continue Reading