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Keith Hennessey

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Jun 26, 2009

How much bailout money will taxpayers get back?

The Congressional Budget Office (CBO) has released their assessment of the Office of Management and Budget’s semiannual TARP report. That assessment estimates how much cash has gone out the door for each part of TARP, and how much CBO expects will…

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Jun 1, 2009

Understanding the GM bankruptcy

Many of you are new to this blog since I wrote extensively about autos six weeks ago. As background, I coordinated the auto loan process for President Bush last fall as the Director of the White House National Economic Council (the position now held by Dr. Lawrence…

Keith Hennessey in Keith Hennessey

May 5, 2009

Mixed results on the Chrysler announcement

The President’s Chrysler announcement last Thursday produced mixed results.

The agreement among Chrysler, Fiat, UAW, the Administration, and the large banks appears to increase the probability (from almost zero) that Chrysler will…

Keith Hennessey in Keith Hennessey

May 4, 2009

Intro to TARP — Summary of the series

Here are the four Intro to TARP posts:

Banks have two problems
TARP I: Buying bad assets
TARP II: Direct investment
TARP III: The Geithner Plan

Keith Hennessey in Keith Hennessey

Apr 30, 2009

Intro to TARP — TARP II: Direct investment

Tuesday I began with a simple example, which I am calling Large Bank.

Yesterday we looked at TARP I, in which the government would buy troubled/toxic assets from banks.

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Apr 24, 2009

Should bank stress test results be public?

Today the 19 largest banks are getting the results of their stress tests from their regulators. Should these results be made public?

This is not a simple question.

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Apr 13, 2009

Four unpleasant options for TARP funding

Despite Secretary Geithner’s statement to the contrary, I still think the Administration is running out of room within the $700 B Troubled Assets Relief Program (TARP). In my last four posts on TARP funding (1 2 3 4), I have stuck to what I think I can…

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Apr 8, 2009

Let’s not hide $1.4 trillion of IOU’s

Yesterday on his blog the President’s Budget Director, Peter Orszag, asks himself and then answers the question, “How much does the federal government owe?”

This sounds like a technical question of concern only to “those of us wearing the…

Keith Hennessey in Keith Hennessey

Apr 2, 2009

Is $700 billion enough? Clearing up the confusion (or at least trying to)

Last Friday I raised the question of how much funding is left in the TARP. This is now a broader discussion involving Secretary Geithner and the Treasury staff, the General Accounting Office, the Wall…

Keith Hennessey in Keith Hennessey

Apr 1, 2009

On air

I will be on BBC Radio 5 Live’s Wake Up to Money show at 5:30 AM GMT, 12:30 AM EST, talking about the G-20 summit. If you’re up, you can listen here.

I was on Fox News’ The Live Desk with Martha MacCallum this afternoon around 2:20 pm, talking about banks and taxpayer investments. Martha…