Third in a series of briefings to the media on the need for greater transparency and accountability in the government’s TARP and other Wall Street bailout programs; In this issue: TARP report card and understanding Citi
CEPR: produces calculations of the amount of money being dispersed by the government to the 16 primary dealers and investment banks who qualify to borrow through these facilities under the assumption that each borrows in proportion to its assets. The study then uses Fed data on the interest rate charged for loans from these lending facilities to calculate the potential subsidy in this lending
Bailout Watch is the cooperative project of six core organizations: Center for Economic and Policy Research, Economic Policy Institute, OMB Watch, OpenTheGovernment.org, Project on Government Oversight (POGO), Taxpayers for Common Sense. The site is now maintained by OMB Watch as a repository for major reports on TARP and the economic bailout.
With additional support and participation by: Americans for Tax Reform, Association of Community Organizations for Reform Now (ACORN), Center for American Progress, Center for Community Change, Center for Responsible Lending, Columbia Journalism Review, Committee for a Responsible Federal Budget, Common Cause, Consumer Federation of America, Consumers Union, Fund for Constitutional Government, Good Jobs First, Institute for Policy Studies, Jobs with Justice, National Community Reinvestment Coalition, National Taxpayers Union, ProPublica, Public Citizen, Sunlight Foundation, US PIRG
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