Appropriations
Independent Analysts Concur With CEA: Recovery Act Boosts Employment
Sep 11, 2009 by Craig Jennings
Yesterday, as per Recovery Act requirements, the Council of Economic Advisors (CEA) released their quarterly report on the "impact of programs funded through [the Recovery Act] on employment, estimated economic growth, and other key economic indicators."
read in fullOMB Watch Releases Recovery Act Transparency Status Report
Sep 10, 2009
WASHINGTON, Sept. 10, 2009—This week, Recovery Act transparency will begin to take center stage. Today, the Senate Homeland Security and Governmental Affairs Committee held a hearing on stimulus spending, the Council of Economic Advisors will release its report on Recovery Act job creation, and the Government Accountability Office prepares to release its third bimonthly report on Recovery Act implementation and transparency. To highlight strengths and weaknesses of disclosure and accountability in Recovery Act spending, OMB Watch is releasing a comprehensive report on Recovery Act transparency.
read in fullBusy, Busy, Busy: An Appropriations Update
Sep 3, 2009 by Gary Therkildsen*
An update on the appropriations process from the Hill today declares that, barring – in the words of one House Democratic aide – "a miracle," Congress will not pass all 12 spending bills before the end of the fiscal year, which is just a few short weeks away.
read in fullTreasury Gives Up on Lassoing SIGTARP
Sep 3, 2009 by Craig Jennings
Eyebrows were raised in June when ABC News wrote about an inquiry by the Treasury Department to the Department of Justice as to whether the Special Inspector General for TARP (SIGTARP) was under the thumb of supervised and directed by the Treasury Secretary.
Too Big to Fail Fail
Aug 31, 2009 by Craig Jennings
Since the phrase "too big too fail" entered the fiscal lexicon last year, I've been really curious as to why the anti-trust divisions at the Federal Trade Commission or Department of Justice have not taken a keen interest in the nation's banking system. And much to my chagrin, Congress has yet to hold a hearing entitled "Busting the Banking Trust," or something along those lines.
read in fullTARP'd Citigroup Leverages Again
Aug 27, 2009 by Craig Jennings
It looks like government-sponsored Citigroup has ambled back to the racetrack, cash in hand, ready to put big bucks down on Long Nose in the third.
The Recovery Act and the Deficit
Aug 26, 2009 by Craig Jennings
Yesterday, Gary wrote about the latest federal budget deficit numbers and noted that, well, there's no need to freak out. Aside from freaking out, understanding how the federal budget got to this level is essential to evaluating budgetary policy options going forward.
read in fullTreasury's Shrewd Investment?
Aug 24, 2009 by Craig Jennings
In a ploy to recapitalize Citigroup, Inc., the Department of Treasury converted last month a portion of its investment in the bank from preferred stock, which would have given Treasury an 8% return on its "investment" annually, to common stock (i.e. what is traded in the stock market), which guarantee nothing. So far, the gamble has paid off as Citi's shares have increased considerably in value since its purchase.
How Can You Get Treasury to Stand Behind You at the Roulette Table?
Aug 21, 2009 by Craig Jennings
That's what Special Inspector General for the TARP (SIGTARP) Neil Barofsky wants to know.
read in fullTARP'd Banks Back Getting Back in the Lending Game?
Aug 18, 2009 by Craig Jennings
The Treasury Department released its June Monthly Bank Lending Survey, and the results are...mixed. Overall, outstanding loan balances for the 22 banks receiving TARP funds fell by 1 percent in June, but the new loan originations increased by 13 percent. Looking closer at the data reveals that outstanding loans to consumers fell by 1 percent, while new loans to consumers increased by 9.7 percent in the same period.
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