financialstability.gov now officially launched; check out which banks in your state got CPP funding

[Aloha Spirit]

Under the "Impact" tab,
http://financialstability.gov/impact/index.html
you can see who and when and how much financial institutions received.

Also, you can read clearly about all eight parts of Geithner's plan.

I'm still looking around.... Yesterday the page was pretty barren except for links.

Anyone find anything cool on here?

[LiberalFighter]

1. I recognize only one bank in the group for Indiana. The others I never heard of before.

[Egnever]

2. Thanks !

I guess transparency is more than a talking point. That is change I can believe in.

[Aloha Spirit]

3. Yep."Recipients of Treasury investment under the CAP will be required to show how every dollar .."

of capital they receive is enabling them to preserve or generate new lending compared to what would have been possible without government capital assistance."

You can even see how much banks are lending at the bank lending survey page
http://financialstability.gov/impact/surveys.htm

[Egnever]

6. Good stuff!

And almost exactly what we need much more of in this country.

Thanks again for posting it.

[Aloha Spirit]

7. Ah, yr welcome~make sure and post good stuff when you find it

So the information to distraction ratio here gets back to normal :fistbump:

[high density]

4. Great site

Lots of info on a wide variety of programs, including the "PPIP" I assume once the program starts working we will be able to see the transactions under this plan.

[Aloha Spirit]

5. Yep... definitely. I just found a link to SIGTarp, which discusses their fraud and waste hotline for

TARP funds.

I'm really glad to read about this.
http://www.sigtarp.gov/reports/testimony/2009/Testimony_Before_the_Senate_Finance_Committee.pdf

It's SIGTarp's Director's prepared testimony for Congress, from today.

It's reassuring that they're getting this stuff up quickly.

[Abq_Sarah]

8. New Mexico:

$0.

[Aloha Spirit]

11. Interesting, I guess the info is not up to date, Trinity Capital received funds last Friday I think.

Trinity was the first NM-based institution to receive TARP funds.

http://www.bearmarketinvestments.com/two-banks-get-tarp-funds-two-more-decline

[amandabeech]

9. Be careful with this info. The administration encouraged ALL financial institutions to participate

in the program, whether they really needed the money or not, so that those who really did need the money would not stick out so much. Some banks went along with the administration and may give the money back when the administration pulls the strings that are attached.

I'd look at the bank's pre-PIPP filings to see if I could find problems then before I count them out now, provided that they've taken a relatively small amount.

[Aloha Spirit]

10. Hmm.. you mean PPIP right? I was looking at these numbers and comparing it to the survey

page to see how much the TARP funds are actually producing more credit lines for consumers.
It's not definitive, but will be interesting to track and read the banks' internal reports on this website.
http://financialstability.gov/impact/surveys.htm

As far as trying to judge banks' default risk or whatever, I think when the first fiscal quarter numbers come out next month, it will be telling to see how the banks who took TARP funds are responding. Until then, I agree it's hard to judge based on simply how much funds they received.

[amandabeech]

16. I'm getting really tired, but I did look at a couple and it wasn't as bad as I thought.

What I can't understand then is why Obama has proposed the new FDIC-loan-led "market" for toxic assets.

If lending is doing okay, then why do we have to bother with this? Wasn't the real problem the lending?

Also, I keep hearing about people who have had their small business loan pulled, or are having their credit lines severely reduced and are incurring harsh penalties seemingly no matter what they do. If things are getting better, why are we still hearing so much of this?

[Aloha Spirit]

18. Aww, get some rest there sweetie!

Well, I guess there are 8 parts to the Financial Stability Plan, and with TARP funds and FDIC participation, they're mitigating the economic downturn from several angles.
I still hear the bad news too about small businesses losing their credit lines.
These programs haven't been in place very long though, and recovery will happen slowly, and even if TARP funds are working like they're supposed to, they're not designed to fix the economy by themselves.
I learned a lot from that website today though.
And with the fiscal first quarter over, I trust there will be a lot of speculation about recovery when more data comes out.
I saw you posted a lot today... so did I, more than normal, because I'm trying really hard to figure out what the government is doing with the recovery $$.

Anyway, I hope you get some rest.

[amandabeech]

19. Thanks.

Please PM me when you find out, because I would like to know about that, too.

I'm very interested in how much of that recovery money will be used now and in the next six months for something other than tax cuts. I have read that quite a bit of the stimulus money will not kick in until 2010, which is nice, but less critical than now and the immediate future, IMHO.

As you may know, my family and friends may be affected adversely by the situation at GM, and I've been more active than usual as well.

[GoCubsGo]

12. Ironically...

...the only banks on the list for me are the one that holds my mortgage, and the one that provides my Visa card, which rarely gets used. I keep what's left of my money in a credit union, which appears to be doing fine.

[Aloha Spirit]

15. I invest what's left of my money at the end of the month in

beer... your strategy sounds more reasonable!
My Visa card is owned by Capital One, they doubled my interest rate recently so I paid it off.

[berni_mccoy]

13. Paul Krugman's bank didn't get any benefit...

[Aloha Spirit]

14. lol

[PA Democrat]

17. Yes, my bank was sent me a number of letters last year to tell me they were

financially sound. It looks like they took $7.6 BILLION in TARP funds. WTF?