KeithHennessey.com

As I explained yesterday in part 4 of this series, the President delivered different substantive messages to General Motors and Chrysler.  I would like now to focus on one element of that message, because there’s an enormous hole in yesterday’s announcement, and it appears that the press missed it.  It appears that the Administration did [...]

Last Friday I posted that I thought the Administration had less than $40 B of room remaining in the TARP.  The Wall Street Journal reported today Monday that Treasury says “it has about $134.5 billion left in its financial-rescue fund.”  Secretary Geithner addressed this question Sunday on This Week with George Stephanopolous. GEITHNER: George, we [...]

I think President Obama will soon need to ask Congress for more TARP funding, and that such a request will displace his legislative agenda for a while.  Let’s do the math. When President Obama took office, $387 B of the $700 B of available TARP funds had already been publicly committed.  Here’s the breakdown. Public [...]