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Office of the Special Inspector General for the Troubled Asset Relief Program, April 20, 2010 – Quarterly Report to Congress Related postings on financial system
News release: “Today the Joint Economic Committee (JEC) released its monthly state-by-state report Understanding the Economy: State-by-State Snapshots, featuring key economic indicators for each of the 50 states and the District of Columbia. The report has been updated to include state data released April 16 by the Bureau of Labor Statistics (BLS) and is the …
Chairman Ben S. Bernanke – Lessons from the failure of Lehman Brothers Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C., April 20, 2010: “The Federal Reserve fully understood that the failure of Lehman would shake the financial system and the economy. However, the only tool available to the Federal Reserve to …
Distrust, Discontent, Anger and Partisan Rancor The People and Their Government, April 18, 2010 “By almost every conceivable measure Americans are less positive and more critical of government these days. A new Pew Research Center survey finds a perfect storm of conditions associated with distrust of government a dismal economy, an unhappy public, bitter …
Business Journal: “Barbara Desoer, president of Bank of America Home Loans, testified on Capitol Hill Tuesday about the housing crisis and the steps BofA is taking to modify troubled mortgages. And she painted a bleak picture, according to her prepared testimony. Some numbers [from her remarks at the House Committee on Financial Services Committee hearing, …
News release: “As part of the unprecedented accountability and transparency provisions included in the American Recovery and Reinvestment Act of 2009 (ARRA), the Council of Economic Advisers (CEA) was charged with providing to Congress quarterly reports on the effects of the Recovery Act on overall economic activity, and on employment in particular. Today we released …
H. Res. 1222 supporting the goals and ideals of National Library Week: April 13, 2010 Congressional Record – House H2465 “H. RES. 1222 Whereas the Nations school, academic, public, and special libraries make a difference in the lives of millions of people in the United States, today, more than ever; Whereas librarians are trained professionals, …
Too Big to Fail after FDICIA, Larry D. Wall, Economic Review, Vol. 95, No. 1, 2010 “In 1993, when this article was originally published, Congress had recently passed the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to reduce taxpayers’ exposure to financial system losses, including their exposure at “too big to fail” financial …
“The United States Congress established the Days of Remembrance as our nations annual commemoration of the Holocaust and created the United States Holocaust Memorial Museum as a permanent living memorial to the victims. This year Holocaust Remembrance Day is Sunday, April 11. The Museum designated Stories of Freedom: What You Do Matters as the theme …
Preliminary Staff Report: The Community Reinvestment Act and the Mortgage Crisis – Financial Crisis Inquiry Commission (FCIC)| April 7, 2010: “The purpose of this preliminary staff report is to provide background on the Community Reinvestment Act (CRA). Section I provides background on the CRA. Section II discusses the evidence on CRAs contribution to an increase …
Preliminary Staff Report: The Mortgage Crisis – Financial Crisis Inquiry Commission (FCIC)| April 7, 2010: “The purpose of this preliminary staff report is to describe the recent mortgage crisis, which entailed a dramatic drop in home prices beginning in 2006 and a sharp rise in mortgage defaults beginning in 2007. Section I describes the origination …
Preliminary Staff Report: Government Sponsored Enterprises and the Financial Crisis Financial – Crisis Inquiry Commission (FCIC) | April 7, 2010: “This preliminary staff report provides information on the Federal National Mortgage Association (FNMA or Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), the companies’ attributes as government-sponsored enterprises (GSEs), and …
