STAFF BLOG REPUBLIC INSIDER Thune launches attempt to stop TARP spending
Sen. John Thune is trying to build support to end the $700 billion Troubled Asset Relief Program, a move bound to cause heartburn for Democrats wary of strong anti-bailouts sentiment a... Posted on 11/17/09 at 4:56 AM
With a few computer keystrokes in an office at its headquarters, Chrysler Group LLC sent $7.6 billion to the U.S. and Canadian governments on Tuesday, paying off most of the bailout money that saved the company from financial disaster just two years ago.
WASHINGTON (AP) — Treasury Secretary Timothy Geithner affirmed Wednesday the administration’s intent to soon end the $700 billion financial bailout program.
Geithner did not provide details, but said the government is close to the point at which “we can wind down this program” and end it.
WASHINGTON — U.S. Sen. John Thune, R-S.D., introduced a bill Tuesday that would prohibit the Treasury secretary from extending the Troubled Asset Relief Program (TARP) — commonly known as the financial-industry bailout — beyond its current Dec. 31 expiration date.
Federal bailout money repaid by financial institutions would be used to reduce the national debt under a plan introduced Wednesday by U.S. Sen. John Thune, R-S.D. The $700 billion bailout, known officially as the Troubled Asset Relief Program, or TARP, was adopted last year in order to strengthen the nation’s financial sector following the subprime mortgage crisis.
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