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Interesting SIGTARP report gives lots of details

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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-01-11 01:53 AM
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Interesting SIGTARP report gives lots of details
about the outcomes of the stress tests performed on the big banks and the terms under which specific banks repaid TARP.

http://www.sigtarp.gov/reports/audit/2011/Exiting_TARP_...

I was alerted to the issuance of this report by an article in Le Monde. I'd love some comments from those DUers who understand banking really well on it. I think I understand it, but would not want to attempt to summarize it here on DU. It's a long report, but read the intro and then skip to page 59 for a sort of summary. I don't think it is necessary to read every detail about each of the individual banks discussed.

Comments appreciated.
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westerebus Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-02-11 01:01 PM
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1. Read the footnote on page 8 & 9.
It tells you there was much more in the original draft of this report.

In essence, this is a sanitized document.

As the devil resides in the details, the summary which the entire report is, conceals the insider's methodology.

The conclusion of the document is left to minimize possibilities to a scale that is manageable by those involved.

Political cover enfolding the letter of the law.

This report can be taken at face value, we have the best government money can buy.
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-03-11 12:36 AM
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2. It blames Geithner for making some pretty questionable decisions.
If my understanding is correct, this report accuses Geithner of protecting the salaries and bonuses of his rich buddies. If that is true, I wonder what his reward will be.
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