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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
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MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (01/14/2010)
* WASHINGTON (1/15/10)--A lot of uncertainty exists surrounding the Troubled Asset Relief Program (TARP)--specifically, when it will wind down and how much it will cost taxpayers, according to TARP’s congressional oversight panel. The report comes after President Barack Obama Thursday unveiled a plan to tax large banks to recoup TARP losses--which could reap an estimated $116 billion, according to the Treasury (Dow Jones Jan. 14). Elizabeth Warren, the congressional panel’s chair, said TARP likely will remain in place after its Oct. 3 expiration date because Treasury can continue to disburse funds after that date. TARP will “live on for years,” Warren said. However, Treasury needs to share with the public more details on why it provided “substantial assistance” to GMAC while appearing to have treated GMAC differently from other stress-tested institutions, the report said. It also questioned how Treasury would handle conflicts of interest while winding down TARP. The panel suggested Treasury hold TARP assets in a trust separate from the government and political pressure ... * WASHINGTON (1/15/10)--As published in the Federal Register Wednesday, the Federal Deposit Insurance Corp.’s Advisory Committee on Community Banking is scheduled to meet Jan. 28 to discuss policy issues that impact small community banks. On the agenda: the impact of the current economic environment on community banks’ ability to raise capital and increase lending, current examination issues, regulatory reform and other legislative proposals. The meeting is open to the public ...


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