10600nam 2200673 a 450 991096317600332120251117090927.01-62100-245-4(CKB)2550000000046547(EBL)3021861(SSID)ssj0000569126(PQKBManifestationID)12194183(PQKBTitleCode)TC0000569126(PQKBWorkID)10540368(PQKB)10483829(MiAaPQ)EBC3021861(Au-PeEL)EBL3021861(CaPaEBR)ebr10686182(OCoLC)750173104(BIP)27224889(EXLCZ)99255000000004654720090820d2010 uy 0engur|n|---|||||txtccrGovernment bailout Troubled Asset Relief Program (TARP) /Adelaide D. Lefebvre, editor1st ed.New York Nova Science Publishersc20101 online resource (202 p.)America in the 21st century : political and economic issues seriesDescription based upon print version of record.1-60741-568-2 Includes bibliographical references and index.Intro -- GOVERNMENT BAILOUT: TROUBLED ASSET RELIEF PROGRAM (TARP) -- GOVERNMENT BAILOUT: TROUBLED ASSET RELIEF PROGRAM (TARP) -- LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA -- CONTENTS -- PREFACE -- Chapter 1 ADVANCING ECONOMIC STABILITY THROUGH TRANSPARENCY, COORDINATED OVERSIGHT AND ROBUST ENFORCEMENT -- EXECUTIVE SUMMARY -- The Office of the Special Inspector General -- SIGTARP's Reporting Requirements -- Operations of TARP -- SIGTARP's Projects and Recommendations -- SECTION 1 THE OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM -- SIGTARP's Creation and Statutory Authority -- SIGTARP's Mission and Core Values -- Transparency -- Coordinated Oversight -- Robust Enforcement -- SIGTARP's Organizational Structure -- Audit Division -- Investigations Division -- Administration and Other Mission Support -- Other Executive Staff -- Building SIGTARP's Organization -- Hiring -- Contracting -- Building SIGTARP's Infrastructure -- SIGTARP's New Office -- Technical Infrastructure - Website and Hotline -- SIGTARP's Oversight Activities to Date -- Establishing Lines of Communication with TARP Managers and Vendors -- Coordination with Other Oversight Bodies -- Coordination with EESA Oversight Entities -- Coordination with Relevant IGs - TARP-IG Council -- Coordination with Law Enforcement Agencies -- SIGTARP's Oversight Regarding Transparency and Internal Controls -- SIGTARP's Recommendation Regarding Posting TARP Agreements -- SIGTARP's Recommendations Regarding TARP Contract Language -- SIGTARP's Data Collection Initiatives -- SIGTARP's Letter to the Secretary Regarding Executive Compensation -- SIGTARP's Letter to Treasury Concerning TALF -- SIGTARP's Use of Funds Project -- SECTION 2 TARP OVERVIEW -- Legislative Background -- Genesis and Passage of EESA -- EESA Provisions -- EESA Goals.Office of Financial Stability -- Purchases of Troubled Assets -- Insurance of Troubled Assets -- Executive Compensation Limitations -- Warrants -- Funding Schedule -- Other Important Provisions -- Reporting Requirements -- TARP Oversight -- Creation of SIGTARP -- Implementation of EESA -- TARP Mechanics -- Warrants Example -- Equity Investments -- Warrants -- Loans -- Insurance Investments -- SECTION 3 TARP IMPLEMENTATION AND ADMINISTRATION -- Overview of Implemented Programs -- Capital Purchase Program -- CPP Process -- Application -- Evaluation -- Category 1 -- Category 2 -- Category 3 -- Settlement and Closing -- CPP Terms and Conditions -- Terms for Preferred Shares and Dividends -- Terms of Warrants -- Restrictions on Recipients -- Executive Compensation -- Repurchase Conditions -- Reporting -- Status of CPP Funds -- Dividends Received by Treasury -- CPP Warrants -- Institution-Specific Assistance -- American International Group Inc. -- TARP Assistance to AIG -- Economic Terms of the Deal -- Conditions and Restrictions -- Dividends and Repurchase Restrictions -- Executive Compensation -- Lobbying and Expense Requirements -- Citigroup Inc. -- TARP Assistance to Citigroup -- Economic Terms of the Citigroup Deals -- Targeted Investment Program Terms -- Asset Guarantee Program Terms -- Conditions and Restrictions -- Executive Compensation -- Internal Controls/Access to Information -- Restrictions on Dividends -- Bank of America Corporation -- TARP Assistance to Bank of America -- Economic Terms of the Bank of America Deals -- Targeted Investment Program Terms -- Asset Guarantee Program Terms -- Asset Guarantee Program Terms -- Conditions and Restrictions -- General Motors -- TARP Assistance to General Motors -- Terms and Conditions of GM Deal -- Loan Collateral -- Executive Compensation -- Expense Control -- Restructuring Plan and Targets.Reporting Requirements -- Oversight -- Chrysler -- GMAC -- TARP Assistance to GMAC -- Terms and Conditions of GMAC Deal -- Chrysler Financial -- Terms and Conditions of Chrysler Financial Deal -- Status of Institution-specific Assistance -- Term Asset-Backed Securities Loan Facility -- TALF Program Details -- Lending Program -- Asset Disposition Facility -- Treasury Participation in TALF -- TALF Process -- Tarp Operations and Administration -- Office of Financial Stability -- Conflicts of Interest -- Post-employment Restrictions on Employees -- Internal Controls and Compliance -- TARP Administrative and Program Expenses -- Current Contractors and Financial Agents -- SECTION 4 LOOKING FORWARD: SIGTARP'S STRATEGY AND ONGOING RECOMMENDATIONS TO TREASURY -- Audit Division Strategy -- Strategic Focus -- Tactical Implementation -- Use of TARP Funds -- Executive Compensation -- CPP Application Process -- Premature Funding Incident -- Audit Coordination -- Investigations Division Strategy -- Strategic Focus -- Tactical Implementation -- SIGTARP Hotline -- Law Enforcement Agency Partnerships -- SIGTARP Recommendations for Operation of the TARP -- Oversight Language in TARP Agreements -- Asset Management Issues -- Potential Fraud Vulnerabilities Associated with TALF -- GLOSSARY OF TERMS -- Sources -- ACRONYMS -- REPORTING REQUIREMENTS FOR THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM -- A - Description of Categories -- A.1 Capital Purchase Program231 -- Verbatim from Treasury's Initial Section 105(a) Troubled Asset Relief Program Report to Congress, 12/5/2008 -- A.2 Systemically Significant Failing Institutions Program232 -- Verbatim from Treasury's Initial Section 105(a) Troubled Asset Relief Program Report to Congress, 12/5/2008 -- A.3 Targeted Investment Program233.Verbatim from Treasury's website detailing the program description of the Target Investment Program -- A.4 Asset Guarantee Program234 -- Verbatim from Treasury's Report to Congress Pursuant to Section 102 of the Emergency Economic Stabilization Act dated 12/31/2008 -- A.5 Automotive Industry Financing Program235 -- Verbatim from Treasury's website detailing the program description of the Automotive Industry Financing Program -- A.6 Term Asset-Backed Securities Loan Facility236 -- Verbatim from Treasury's Initial Section 105(a) Troubled Asset Relief Program Report to Congress dated 12/5/2008 -- B - Listing of Troubled Assets Purchased, by Category and Financial Institution -- C - Explanation of the Secretary -- C.1 Capital Purchase Program237 -- Verbatim from Treasury's website detailing the program description of the Capital Purchase Program -- C.2 Systemically Significant Failing Institutions Program238 -- Verbatim from Treasury's website detailing the program description of the Systemically Significant Failing Institutions Program -- C.3 Targeted Investment Program239 -- Verbatim from Treasury's website detailing the program description of the Target Investment Program -- C.4 Asset Guarantee Program240 -- Verbatim from Treasury's Report to Congress Pursuant to Section 102 of the Emergency Economic Stabilization Act, dated 12/31/2008 -- C.5 Automotive Industry Financing Program241 -- Verbatim from Treasury's website detailing the program description of the Automotive Industry Financing Program -- C.6 Term Asset-Backed Securities Loan Facility242 -- Verbatim from Treasury's Initial Section 105(a) Troubled Asset Relief Program Report to Congress dated 12/5/2008 -- D - For a Listing of Each Financial Institution Troubled Assets Were Purchased from, see Section B of this Appendix -- E - Listing and Detailed Biographical Information.F - Current Estimate of the Total Amount of Troubled Assets Purchased -- G - Insurance Contracts -- H - For a Detailed Statement of All Purchases, see Section B of this Appendix For a Detailed Statement of All Obligations, see Section F of this Appendix Detailed Statement of all Expenditures and Revenues -- WARRANTS -- PUBLIC ANNOUNCEMENTS OF AUDITS -- U.S. Department of the Treasury Inspector General248 -- KEY OVERSIGHT REPORTS AND TESTIMONIES -- Federal Reserve Board Office of the Inspector General249 -- Government Accountability Office250 -- Federal Deposit Insurance Corporation251 -- CORRESPONDENCE TO MEMBERS OF CONGRESS -- CORRESPONDENCE WITH TREASURY GENERAL COUNSEL -- CORRESPONDENCE WITH TREASURY -- ORGANIZATIONAL CHART -- End Notes -- Chapter 2 TESTIMONY TO THE SENATE COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS, NEIL M. BAROKSKY * -- INDEX.The Troubled Asset Relief Program ('TARP') represents a massive and unprecedented investment of taxpayer money designed to stabilize the financial industry and promote economic recovery. This book presents a ready reference on what TARP is and how it has been used.America in the 21st century (New York, N.Y.)Industrial policyUnited StatesCorporationsUnited StatesFinanceEconomic assistance, DomesticUnited StatesEvaluationEconomic stabilizationGovernment policyUnited StatesIndustrial policyCorporationsFinance.Economic assistance, DomesticEvaluation.Economic stabilizationGovernment policy339.50973Lefebvre Adelaide D1866895MiAaPQMiAaPQMiAaPQBOOK9910963176003321Government bailout4474364UNINA