Citigroup announced it is paying back federal TARP funds, joining the likes of Bank of America, Goldman Sachs and JP Morgan. Why are they in such a hurry?
The bill gives government new powers to rein in 'too big to fail' companies and to protect consumers. The House is set to vote on the financial-regulation measures Friday.
President Obama and Treasury Secretary Timothy Geithner appeared to contradict each other this week on whether the TARP program would be extended. The mixed signals reflect the political unpopularity of the bank bailouts.
Obama’s jobs plan is an ambitious attempt to spur a pace of hiring that’s far below normal. Small-business tax breaks, infrastructure spending, and energy efficiency are key areas.
In presenting his job creation plan, Obama acknowledges that most new jobs come through small business. Tax breaks and other measures are meant to spur small business hiring.
As banks pay back TARP funds, President Obama and Democrats consider putting that money toward job creation. Conservatives say that will just add to the deficit.
The actions of the Federal Reserve and other policymakers have helped 'pull the economy back from the brink,' according to the Bernanke speech. One sign: The cost of last year’s bailouts is coming in lower than some forecasters had predicted.
The Obama team may tap bailout funds from TARP – meant to help the financial sector – to stimulate job growth.