In all of this I don't see much help or hope for Troubled Homeowners , Foreclosures, Housing, Real Estate, Home builders or the real estate industry. With much of our tax $ now going to help banks and financial institutions bail themselves out in order to continue doing business, few people are able to sell their homes because would be buyers can't get loans. Property appraisals are less than what's owed. Banks and lenders are still slow to respond and reluctant to take losses making sales of properties and purchasing a property frustrating for everyone involved. Looking at the numbers it's absolutely staggering to me that they still don't get it.
Here is how the NY Times reported much of the distribution of TARP $ through April 01.
Beyond the $700 billion bailout known as TARP, which has been used to prop up banks and car companies, the government has created an array of other programs to provide support to the struggling financial system.
Through April 1, the government has made commitments of about $12.1 trillion and spent $2.5 trillion. Here is an overview, organized by the role the government has assumed in each case.
The Government as Investor
$7.7 trillion
Spent: $1.4 trillion
Includes direct investments in financial institutions, purchases of high-grade corporate debt and purchases of mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae.
The Government as Lender
$2.3 trillion
Spent: $680 billion
A significant expansion of the government's traditional overnight lending to banks, including extending terms to as many as 90 days and allowing borrowing by other financial institutions.
The Government as Insurer
$2.1 trillion
Spent: $340 billion
Includes insuring debt issued by financial institutions and guaranteeing poorly performing assets owned by banks and Fannie Mae and Freddie Mac.
Federal Home Loan Bank securities:
The Treasury and the Federal Reserve have begun buying debt and mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae.
$1.5 trillion
Troubled Asset Relief Program (TARP):
In return for bailout cash, the Treasury now owns stock in hundreds of banks, General Motors, Chrysler and the insurer A.I.G. The largest recipients are A.I.G. ($70 billion), Bank of America ($45 billion) and Citigroup ($45 billion cash and $5 billion in support of a loan guarantee).
$700 billion
A.I.G. The Federal Reserve has provided seed money to create investment vehicles to buy, hold and possibly dispose of bad securities held or insured by A.I.G.
$53 billion
Bear Stearns The Federal Reserve bought distressed assets from Bear Stearns to facilitate its sale to JPMorgan Chase.
$29 billion
A.I.G. A line of credit offered by the Federal Reserve that the insurance company has partly tapped. The Treasury announced on March 2 that the line of credit will be reduced to about $25 billion. And instead of paying back the outstanding debt, A.I.G. will give the government a preferred stake in two of its international subsidiaries.
$60 billion
Fannie Mae/Freddie Mac The companies were put into conservatorship and the Treasury initially pledged up to $200 billion to cover their losses. Freddie Mac has now received a $14 billion infusion.
$400 billion
Citigroup - The government is backing the bulk of $306 billion in loans and securities. This amount does not include direct investment through the TARP program.
$249 billion
Bank of America - The government is backing loans and securities worth $98 billion. This amount does not include direct investment through the TARP program.
$98 billion
Here is how the NY Times reported much of the distribution of TARP $ through April 01.
Beyond the $700 billion bailout known as TARP, which has been used to prop up banks and car companies, the government has created an array of other programs to provide support to the struggling financial system.
Through April 1, the government has made commitments of about $12.1 trillion and spent $2.5 trillion. Here is an overview, organized by the role the government has assumed in each case.
The Government as Investor
$7.7 trillion
Spent: $1.4 trillion
Includes direct investments in financial institutions, purchases of high-grade corporate debt and purchases of mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae.
The Government as Lender
$2.3 trillion
Spent: $680 billion
A significant expansion of the government's traditional overnight lending to banks, including extending terms to as many as 90 days and allowing borrowing by other financial institutions.
The Government as Insurer
$2.1 trillion
Spent: $340 billion
Includes insuring debt issued by financial institutions and guaranteeing poorly performing assets owned by banks and Fannie Mae and Freddie Mac.
Federal Home Loan Bank securities:
The Treasury and the Federal Reserve have begun buying debt and mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae.
$1.5 trillion
Troubled Asset Relief Program (TARP):
In return for bailout cash, the Treasury now owns stock in hundreds of banks, General Motors, Chrysler and the insurer A.I.G. The largest recipients are A.I.G. ($70 billion), Bank of America ($45 billion) and Citigroup ($45 billion cash and $5 billion in support of a loan guarantee).
$700 billion
A.I.G. The Federal Reserve has provided seed money to create investment vehicles to buy, hold and possibly dispose of bad securities held or insured by A.I.G.
$53 billion
Bear Stearns The Federal Reserve bought distressed assets from Bear Stearns to facilitate its sale to JPMorgan Chase.
$29 billion
A.I.G. A line of credit offered by the Federal Reserve that the insurance company has partly tapped. The Treasury announced on March 2 that the line of credit will be reduced to about $25 billion. And instead of paying back the outstanding debt, A.I.G. will give the government a preferred stake in two of its international subsidiaries.
$60 billion
Fannie Mae/Freddie Mac The companies were put into conservatorship and the Treasury initially pledged up to $200 billion to cover their losses. Freddie Mac has now received a $14 billion infusion.
$400 billion
Citigroup - The government is backing the bulk of $306 billion in loans and securities. This amount does not include direct investment through the TARP program.
$249 billion
Bank of America - The government is backing loans and securities worth $98 billion. This amount does not include direct investment through the TARP program.
$98 billion
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