The Internal Revenue Service issued Notice 2009-38 (.pdf) to provide guidance when instruments are acquired by the Treasury Department under the Capital Purchase Program of the Emergency Economic Stabilization Act (“EESA”) and the Troubled Asset Relief Program (“TARP”). The issue arose because of the massive amount of securities being acquired by the Treasury. If those [...]
Tag Archives: TARP
SIGTARP Quarterly Report
Congress was smart enough to not let loose the billions of TARP funds without some oversight. The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) was established by Section 121 of the Emergency Economic Stabilization Act as amended by the Special Inspector General for the Troubled Asset Relief Program Act [...]
Report of Congressional Oversight Panel on Regulatory Reform
Modernizing the American Financial Regulatory System: Recommendations for Improving Oversight, Protecting Consumers and Ensuring Stability (.pdf) In response to the escalating crisis, on October 3, 2008, Congress provided the U.S. Department of the Treasury with the authority to spend $700 billion to stabilize the U.S. economy, preserve home ownership, and promote economic growth. Congress created [...]
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