Carver in New York to finally exit Tarp
The Treasury Department has held shares in the Black-run banking company for more than a decade. ... Read full article
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The difference during this crisis? Customers trust their banks.
Unlike in 2008, banks have become a steady force during the coronavirus pandemic. ... Read full article
The $2T stimulus isn't a ‘bailout.’ It’s a ventilator.
Critics who argue this crisis mirrors the 2008 financial panic when Congress bailed out banks have it wrong. The new relief package in response to the coronavirus pandemic was necessary to save livelihoods, and more can be done. ... Read full article
Twelve years later, another ill-conceived bailout
The 2008 package proved some banks were too big to fail. But the rushed $2.2 billion stimulus shows now any company can be bailed out. ... Read full article
Deutsche Bank shows it learned nothing from the 2008 crisis
The global bank’s overhaul plan will put taxpayers and the financial system at risk. ... Read full article
Former Tarp director involved with Maryland de novo effort
Lori Bettinger is one of the organizers of NXG Bank, which has applied to open in Columbia, Md. ... Read full article
Faces of the financial crisis: Where are they now? (Policymaker edition)
The D.C. movers and shakers at the center of the financial crisis — and the government’s response — have all moved on to new positions. Here's a look at what they did afterwards. ... Read full article
The crisis isn't over
Ten years ago, it was a banking crisis, but it became a political one. That crisis never ended. ... Read full article
Better late than never: Colorado bank exits Tarp
Grand Mountain Bank raised $7 million to help it exit the crisis-era capital program. ... Read full article
Many get stung by Maryland banking company's bankruptcy plan
The Treasury Department will take a huge hit when Cecil Bancorp sells it bank, while 1st Mariner Bank in Baltimore will see its equity stake completely wiped out. Cecil opted for bankruptcy court when it was unable to resolve an impasse over its ... Read full article
'Mediocre, but it works': Comments of the week
Readers opine on legacy core systems, the negative messaging around the Troubled Asset Relief Program, Jamie Dimon defending his Trump ties, and more. ... Read full article
Tarp was not a bailout, and the government's profit was huge
The fact that the Troubled Asset Relief Program made billions is of no help to the thousands of banks that suffered, and are still suffering, from the grossly unfair rollout. ... Read full article
Treasury exits largest Tarp investment
The agency sold nearly 10.3 million shares in First BanCorp in San Juan, Puerto Rico, for $57.7 million. ... Read full article
Why a bank needed to sell itself to Uncle Sam to find freedom
One Bank & Trust in Arkansas just sold itself to the Treasury, resolving a legal judgment and clearing the way for a resale to the private sector. ... Read full article
Former Tennessee Commerce exec admits to misleading FDIC
Lamar Cox pleaded guilty to hiding losses while the bank held government funds. Tennessee Commerce failed in 2012. ... Read full article
Tarp still casts shadow over recovering S.C. bank
HCSB Financial received a second subpoena from the Troubled Asset Relief Program's special inspector general. ... Read full article
Loan-mod fraud organizer gets 15 years in prison
David Gotterup of Long Island, N.Y., was sentenced to the prison time and ordered to pay $2.5 million after pleading guilty in June to ripping off distressed homeowners, federal authorities said. ... Read full article
Former Tennessee Commerce exec charged with lying to regulators
Lamar Cox is accused of understating losses tied to the sale of foreclosed properties in 2009. ... Read full article
Former NOVA chairman sentenced for Tarp fraud
Barry Bekkedam was also fined $100,000 for a failed effort to bring in Tarp funds before NOVA failed in 2012. ... Read full article
Why You Should Not Expect Your Bank to Voluntarily Rewrite Your Loan