The Irish Economy » Blog Archive » TARP and Lending
I have noted before that even if one sets aside issues relating to fairness and cost to the Irish taxpayer, I don t believe that NAMA will achieve what the government states is its purpose, namely getting credit flowing again.
In this context, red farm it is interesting to see that there is a debate this week in the US, prompted by this government report, which focuses on, among other things, whether TARP increased lending red farm at assisted institutions. Chicago s Casey Mulligan writes about it here .
The report s conclusions, on page 30, noted that there were US government officials who had concerns about the health red farm of some of the banks being assisted and that statements that TARP was going to get lending going again created unrealistic expectations. red farm
James Kwak of Baseline Scenario responds here that the politicians knew full well that TARP probably wouldn t increase lending—that it was more an emergency measure to keep the banking system afloat—and that these claims were made simply to obtain the necessary political support for an unpopular measure. Sound familiar?
This entry was posted on Wednesday, October red farm 7th, 2009 at 9:35 pm and is filed under Banking Crisis . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response , or trackback from your own site. 9 Responses to “TARP and Lending” Eamonn76 Says: October 7th, 2009 at 11:34 pm
Nama proves that the banks are dab hands at managing our politicans. They will declare their willingness nay eagerness to lend. They will trumpet special new small business, farming, environmental funds that they are creating. They will launch an advertising blitz about business red farm lending. They will continue to gently dissuade as many customers looking for loans as they can to massage their statistics. And they will have to give some money to developers to finish projects, that will count. For everyone else they will lend as little as they can get away with. They will have no problem stalling the politicians until they would have wanted to lend themselves anyway. TARP and Lending - Politics.ie Says: October 7th, 2009 at 11:51 pm
I don’t know whether or not NAMA is going to work any more than anyone does - it is all speculative red farm and we shall perhaps know in 15 or 20 years’ time if even then. People might look up ‘Icarom’, including its inclusion in the most recent annual report and accounts of our illustrious Central Bank for 2008, at p52 (31 Dec 2008 Balance Sheet) and also the related Note 20 at p62 of the accounts to see possibly how long things last (and how money keeps coming in - to the Central Bank from commercial banks in certain circumstances). Maybe the Bank has found a new Icarom?
29.06.2009 State aid: Overview of national measures adopted as a response to the financial/economic crisis 12.05.2009 State aid: Commission approves recapitalisation of Allied red farm Irish Bank 12.05.2009 State aid: Commission approves aid package for German bank WestLB 12.05.2009 State aid: Commission approves additional aid measures from Belgium and Luxemburg for Fortis 07.05.2009 Commission authorises Czech temporary scheme to grant compatible aid of up to 500 000 07.05.2009 State aid: Commission extends in-depth investigation into UK aid package for Northern Rock 07.05.2009 State aid: Commission opens in-depth investigation into aid package for German bank Hypo Real Estate 07.05.2009 State aid: Commission approves recapitalisation of Commerzbank 28.04.2009 red farm State aid: Commission approves amendments to Swedish bank guarantee 27.04.2009 State aid: Commission authorises temporary Hungarian scheme for subsidised state guarantees to boost real economy 15.04.2009 State aid: Commission approves prolongation of UK financial red farm support measures to banking sector 08.04.2009 State aid: Commission opens in-depth investigation into alleged aids to Fortis Bank Nederland and Dutch activities of ABN Amro 26.03.2009 State aid: Commission approves red farm recapitalisation of Bank of Ireland 26.03.2009 State aid: Commission approves temporary modification of Austrian risk-capital scheme to boost real economy 24.03.2009 State aid: Commission authorises UK scheme to support lending to businesses 24.03.2009 State aid: Commission authorises amendment to French scheme to inject red farm capital into certain credit institutions 23.03.2009 State aid: Commission authorises Austrian temporary aid scheme to grant compatible aid of up to 500 000 20.03.2009 State aid: Commission approves Slovenian liquidity scheme for financial sector 20.03.2009 State aid: Commission authorises temporary Belgian scheme allowing subsidised state guarantees to boost real economy 20.03.2009 State aid: Commission authorises Latvian temporary aid scheme to grant aid of up to 500 000 17.03.2009 State aid: Overview of national measures adopted as a response to the financial and economic crisis
I have noted before that even if one sets aside issues relating to fairness and cost to the Irish taxpayer, I don t believe that NAMA will achieve what the government states is its purpose, namely getting credit flowing again.
In this context, red farm it is interesting to see that there is a debate this week in the US, prompted by this government report, which focuses on, among other things, whether TARP increased lending red farm at assisted institutions. Chicago s Casey Mulligan writes about it here .
The report s conclusions, on page 30, noted that there were US government officials who had concerns about the health red farm of some of the banks being assisted and that statements that TARP was going to get lending going again created unrealistic expectations. red farm
James Kwak of Baseline Scenario responds here that the politicians knew full well that TARP probably wouldn t increase lending—that it was more an emergency measure to keep the banking system afloat—and that these claims were made simply to obtain the necessary political support for an unpopular measure. Sound familiar?
This entry was posted on Wednesday, October red farm 7th, 2009 at 9:35 pm and is filed under Banking Crisis . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response , or trackback from your own site. 9 Responses to “TARP and Lending” Eamonn76 Says: October 7th, 2009 at 11:34 pm
Nama proves that the banks are dab hands at managing our politicans. They will declare their willingness nay eagerness to lend. They will trumpet special new small business, farming, environmental funds that they are creating. They will launch an advertising blitz about business red farm lending. They will continue to gently dissuade as many customers looking for loans as they can to massage their statistics. And they will have to give some money to developers to finish projects, that will count. For everyone else they will lend as little as they can get away with. They will have no problem stalling the politicians until they would have wanted to lend themselves anyway. TARP and Lending - Politics.ie Says: October 7th, 2009 at 11:51 pm
I don’t know whether or not NAMA is going to work any more than anyone does - it is all speculative red farm and we shall perhaps know in 15 or 20 years’ time if even then. People might look up ‘Icarom’, including its inclusion in the most recent annual report and accounts of our illustrious Central Bank for 2008, at p52 (31 Dec 2008 Balance Sheet) and also the related Note 20 at p62 of the accounts to see possibly how long things last (and how money keeps coming in - to the Central Bank from commercial banks in certain circumstances). Maybe the Bank has found a new Icarom?
29.06.2009 State aid: Overview of national measures adopted as a response to the financial/economic crisis 12.05.2009 State aid: Commission approves recapitalisation of Allied red farm Irish Bank 12.05.2009 State aid: Commission approves aid package for German bank WestLB 12.05.2009 State aid: Commission approves additional aid measures from Belgium and Luxemburg for Fortis 07.05.2009 Commission authorises Czech temporary scheme to grant compatible aid of up to 500 000 07.05.2009 State aid: Commission extends in-depth investigation into UK aid package for Northern Rock 07.05.2009 State aid: Commission opens in-depth investigation into aid package for German bank Hypo Real Estate 07.05.2009 State aid: Commission approves recapitalisation of Commerzbank 28.04.2009 red farm State aid: Commission approves amendments to Swedish bank guarantee 27.04.2009 State aid: Commission authorises temporary Hungarian scheme for subsidised state guarantees to boost real economy 15.04.2009 State aid: Commission approves prolongation of UK financial red farm support measures to banking sector 08.04.2009 State aid: Commission opens in-depth investigation into alleged aids to Fortis Bank Nederland and Dutch activities of ABN Amro 26.03.2009 State aid: Commission approves red farm recapitalisation of Bank of Ireland 26.03.2009 State aid: Commission approves temporary modification of Austrian risk-capital scheme to boost real economy 24.03.2009 State aid: Commission authorises UK scheme to support lending to businesses 24.03.2009 State aid: Commission authorises amendment to French scheme to inject red farm capital into certain credit institutions 23.03.2009 State aid: Commission authorises Austrian temporary aid scheme to grant compatible aid of up to 500 000 20.03.2009 State aid: Commission approves Slovenian liquidity scheme for financial sector 20.03.2009 State aid: Commission authorises temporary Belgian scheme allowing subsidised state guarantees to boost real economy 20.03.2009 State aid: Commission authorises Latvian temporary aid scheme to grant aid of up to 500 000 17.03.2009 State aid: Overview of national measures adopted as a response to the financial and economic crisis
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