Items Tagged with 'Troubled Asset Relief Funds'


  • Damning report finds state agencies wasted millions meant for struggling homeowners

    SIGTARP investigation uncovers waste within Hardest Hit Fund program
    A damning new report from a federal watchdog shows that 19 state housing finance agencies wasted millions of dollars that should have gone to struggling homeowners as part of the government’s Hardest Hit Fund program. The report, published Friday by the Office of the Special Inspector General for the Troubled Asset Relief Program, showed that an investigation found that all 19 of the state housing finance agencies that participated in the Hardest Hit Fund collectively wasted money in some form.
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  • Former Cantor Fitzgerald mortgage bond trader charged with securities fraud

    David Demos accused of defrauding firm that managed TARP funds
    A former mortgage bond trader at Cantor Fitzgerald stands accused of committing securities fraud by allegedly overcharging customers for residential mortgage-backed securities, a collection of federal agencies announced Friday. Among the victims of this alleged scheme are asset managers and firms affiliated with or subsidiaries of recipients of funds from the Troubled Asset Relief Program, the government said.
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  • Failed bank CEO gets 14 months for trying to scam $13M in TARP funds

    NOVA Bank's Brian Hartline faked investments in attempt to get bailout
    The former president and chief executive officer of a failed bank will spend 14 months in prison after being convicted of faking millions of dollars in investments in the bank as part of a scheme to defraud the federal government of more than $13 million from the Troubled Asset Relief Program.
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  • House Committee Considers TARP Reinvestment

    The House Finance Services Committee today heard testimony on HR 3068, the TARP for Main Street Act of 2009. The bill, by the committee's chairman Barney Frank, D-Mass., reinvests $6.5bn of Troubled Asset Relief Funds to housing and homeownership efforts.
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