Obama to unveil TARP rules first, then bank plan

[Joanne98]

Source: Reuters


WASHINGTON, Feb 1 (Reuters) - The Obama administration is expected to first unveil rules for banks receiving U.S. government help, including clarifications on lending and restrictions on executive compensation, a source with knowledge of the government's thinking said on Sunday.

Those rules are expected to be announced as early as this week and the administration's plan to bolster the country's banking industry is expected about a week later, the source said.

President Barack Obama's finance team is working on the second stage of a $700 billion financial services rescue package, which was enacted last year to prevent the financial system from collapsing.

Under the Troubled Asset Relief Program (TARP), the Treasury Department has allocated about half to shoring up the banking system through direct capital injections. It also funneled money into troubled insurer American International Group (AIG.N: Quote, Profile, Research) and some for the auto sector.



Read more: http://uk.reuters.com/article/marketsNewsUS/idUKN013965...

[RJ Connors]

1. And for the people who are struggling and losing their homes

they would get exactly what out of this deal?

[RUMMYisFROSTED]

4. The pleasure of

watching the monied class turn their bad/worthless investments into cash.

It just warms your heart.

[RJ Connors]

6. Yeah, I know I certainly get the glowing feeling all over.

Thanks for the laugh.

[acmavm]

7. Same thing they got last time. Nothing.

[Romulox]

2. Obama opens henhouse door, promises new henhouse door closing policy after hens escape.

Obama already voted to give Wall Street $350 Billion dollars of taxpayer money, no-strings-attached. So now he's a fiscal watchdog? I'll believe it when I see it. This sounds like so much after-the-fact cya.

[jpak]

3. Hopefully, he will be flanked by hordes of Treasury agents, Federal Marshals, Secret Service etc.

and send these crooks a message,

[izquierdista]

5. He needs Eliot Ness

and a flock of accountants to take down these modern day Capones.

Come to think of it, didn't that all happen in Obama's neck of the woods?