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Daily Archives: October 21, 2009

SIGTARP Quarterly Report to Congress October 21, 2009

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Office of the Special Inspector General for the Troubled Asset [SIGTARP] Relief Program Advancing Economic Stability Through Transparency, Coordinated Oversight and Robust Enforcement – Quarterly Report to Congress – October 21, 2009

  • “More than a year has now passed since the Emergency Economic Stabilization Act of 2008 (“EESA”) authorized creation of the Troubled Asset Relief Program (“TARP”), and preliminary assessments of TARP — both its effectiveness and its costs — can begin to be made. As to effectiveness, there are significant signs of improvement in the stability of the financial system. Although the causes for such improvement are many and complex, it appears that the dramatic steps taken by the U.S. Department of the Treasury (“Treasury”) and other agencies through TARP and related programs played a significant role in bringing the system back from the brink of collapse. On the other hand, the risk of foreclosure continues to affect too many Americans, unemployment continues its rise, and the stresses on the commercial real estate market threaten to increase the pressure on banks and small businesses alike yet again.”
  • Related postings on financial system

    • New GAO Reports: 2010 Census, Dept. of Agriculture Internal Controls, Credit Cards

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    2010 Census: Efforts to Build an Accurate Address List Are Making Progress, but Face Software and Other Challenges, GAO-10-140T, October 21, 2009 U.S. Department of Agriculture: Internal Control Would Improve Accountability for Certain Centrally Provided (Greenbook) Programs, GAO-10-82, October 20, 2009 Credit Cards: Fair Debt Collection Practices Act Could Better Reflect the Evolving Debt Collection… Continue Reading

    Regional and State Employment and Unemployment (Monthly)

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    News release: ‘Regional and state unemployment rates were generally little changed in September. Twenty-three states and the District of Columbia recorded over-the-month unemployment rate increases, 19 states registered rate decreases, and 8 states had no rate change, the U.S. Bureau of Labor Statistics reported today. Over the year, jobless rates increased in all 50 states… Continue Reading

    Current Economic Conditions – Federal Reserve District Beige Book, October 21, 2009

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    Current Economic Conditions by Federal Reserve District, October 21, 2009 – Full Report and Districts “Reports from the 12 Federal Reserve Districts indicated either stabilization or modest improvements in many sectors since the last report, albeit often from depressed levels. Leading the more positive sector reports among Districts were residential real estate and manufacturing, both… Continue Reading

    Eighth Annual ACC/Serengeti Managing Outside Counsel Survey

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    News release: “Over the past eight years, more in-house counsel have required specific terms of retention that govern what they expect from their outside counsel, according to the results of the 2008 ACC/Serengeti Managing Outside Counsel Survey, a collaboration between the Association of Corporate Counsel (ACC) and Serengeti Law, released at ACC’s Annual Meeting, October… Continue Reading

    Recent CRS Reports: Income and Poverty Among Older Americans in 2008, Afghanistan, Air Force C-17, Cybersecurity

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    October 02, 2009 – Income and Poverty Among Older Americans in 2008 October 01, 2009 – Afghanistan: Politics, Elections, and Government Performance October 01, 2009 – Air Force C-17 Aircraft Procurement: Background and Issues for Congress September 30, 2009 – Guinea’s 2008 Military Coup and Relations with the United States September 30, 2009 – Cybersecurity:… Continue Reading