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Washington
Inside Washington (01/05/2009)
* WASHINGTON (1/6/09)--The Treasury Friday released the program description for the Targeted Investment Program as required by the Emergency Economic Stabilization Act. The department has already invested $20 billion in Citigroup under the program (Forbes Jan. 2). The objective of the program is to foster financial market stability. Financial institutions will be considered for participation on a case-by-case basis. There is no deadline for participation ... * WASHINGTON (1/6/09)--On Friday, the Treasury released a report stating that it is exploring the use of the Asset Guarantee Program (AGP) to help Citigroup. The Treasury and Citigroup announced Nov. 23 that the Treasury would assume second-loss position after Citigroup on some mortgage-related assets. Under the AGP, the Treasury would assume a loss position on selected assets. It also would collect a premium. Participants’ eligibility would be determined on a case-by-case basis ...


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