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H.R. 6076: Home Retention and Economic Stabilization Act of 2008

Description: The Home Retention and Economic Stabilization Act of 2008 would defer foreclosure for eligible mortgage borrowers for up to 270 days. If passed, the bill would give extra time to some borrowers and lenders to consider alternatives to foreclosure, including traditional loss mitigation and participation in the new Federal Housing Administration (FHA) program for refinancing troubled loans. Some policymakers believe that a moratorium on foreclosures could help stabilize housing markets and allevia… more
Date: August 29, 2008
Creator: Murphy, Edward Vincent
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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U.S. Foreign Aid to the Palestinians

Description: In response to ongoing financial turmoil that began in the subprime mortgage-backed securities market, the federal government has intervened with private corporations on a large scale and in an ad hoc manner three times from the beginning of 2008 through September 19, 2008. These interventions have prompted questions regarding the taxpayer costs and the sources of funding. The federal government may or may not end up seeing a positive fiscal contribution from the recent interventions. The resul… more
Date: October 15, 2008
Creator: Webel, Baird; Weiss, N. Eric & Labonte, Marc
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Cost of Government Financial Interventions, Past and Present

Description: In response to ongoing financial turmoil that began in the subprime mortgage-backed securities market, the federal government has intervened with private corporations on a large scale and in an ad hoc manner three times from the beginning of 2008 through September 19, 2008. These interventions have prompted questions regarding the taxpayer costs and the sources of funding. The federal government may or may not end up seeing a positive fiscal contribution from the recent interventions. The resul… more
Date: September 23, 2008
Creator: Webel, Baird; Weiss, N. Eric & Labonte, Marc
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Proposal to Allow Treasury to Buy Mortgage-Related Assets to Address Financial Instability

Description: Financial markets underwent severe stress during the week of September 15 - 22, 2008. After Lehman Brothers declared bankruptcy and AIG received a bridge loan from the Federal Reserve, policymakers reassessed their case-by-case approach to resolving financial problems. Secretary of the Treasury Paulson announced a plan to allow Treasury to purchase mortgage-related assets from U.S. financial institutions. The announced intent of the plan is to unclog financial markets, increase the health of th… more
Date: September 22, 2008
Creator: Murphy, Edward V. & Webel, Baird
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The U.S. Financial Crisis: Lessons from Japan

Description: Japan's five bank bailout packages in the late 1990s may hold some lessons for the United States. Overcoming the crisis in Japan's banks took a combination of capital injections, new laws and regulations, stronger oversight, a reorganization of the banking sector, moderate economic recovery, and several years of banks working off their non-performing loans.
Date: September 29, 2008
Creator: Nanto, Dick K.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The U.S. Financial Crisis: Lessons from Chile

Description: From 1981-1984, Chile experienced a banking crisis that in relative terms had a cost comparable in size to that perhaps facing the United States today. The Chilean Central Bank acted quickly and decisively in three ways to restore faith in the credit markets. It restructured firm and household loans, purchased nonperforming loans temporarily, and facilitated the sale or liquidation of insolvent financial institutions. These three measures increased liquidity in the credit markets and restored t… more
Date: September 29, 2008
Creator: Hornbeck, J. F.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The U.S. Financial Crisis: Lessons from Sweden

Description: In the early 1990s, Sweden faced a large banking and exchange rate crisis which it eventually resolved. Four lessons that emerged from Sweden's experience are: 1) the resolution process must be transparent; 2) the resolution agency must be politically and financially independent; 3) market discipline must be maintained; and 4) there must be a plan to jump-start credit flows in the financial system. This report provides an overview of the Swedish banking crisis and an explanation of the measures… more
Date: September 29, 2008
Creator: Jackson, James K.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Financial Market Intervention

Description: Financial markets continue to experience significant disturbance and the banking sector remains fragile. Efforts to restore confidence have been met with mixed success thus far. After attempting to deal with troubled institutions on a case-by-case basis, Treasury has proposed a plan to purchase mortgage-related assets to alleviate stress in financial markets and in the banking system. This report provides answers to some frequently asked questions concerning the financial disruptions of Septemb… more
Date: September 29, 2008
Creator: Murphy, Edward V.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Financial Turmoil: Comparing the Troubled Asset Relief Program to the Federal Reserve's Response

Description: As financial conditions have deteriorated over the past year, the Federal Reserve (FeD) has greatly increased its lending to financial firms. It has also expanded the scope of eligible borrowers to include non-bank financial firms. Some have asked why these loans have not restored financial stability, and if the purchase of up to $700 billion of distressed assets through the recently enacted Troubled Asset Relief Program (TARP) might lead to a different result. Financial assistance to financial… more
Date: October 8, 2008
Creator: Labonte, Marc
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Special Inspector General for the Troubled Asset Relief Program (SIG TARP)

Description: This report discusses the Special Inspector General provisions in the Emergency Economic Stabilization Act of 2008, H.R. 1424, which was enacted as P.L. 110-343 on October 3, 2008. This Act created a Special Inspector General (SIG) for the Troubled Asset Relief Program (TARP). This report will compare the duties and authorities of the SIG TARP to those of the Special Inspector General for Iraq Reconstruction (SIGIR) and the Special Inspector General for Afghanistan Reconstruction (SIGAR), as we… more
Date: November 5, 2008
Creator: Burrows, Vanessa K.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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"Fast Track" Parliamentary Procedures of the Emergency Economic Stabilization Act

Description: The Emergency Economic Stabilization Act of 2008 (Division A of H.R. 1424, P.L. 110-343) empowers the Secretary of the Treasury to purchase certain "troubled assets" as a means to stabilize the economy. This report examines this procedure and explains how it differs from the regular parliamentary mechanisms of the House and Senate.
Date: November 14, 2008
Creator: Davis, Christopher M.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Iceland's Financial Crisis

Description: On November 19, 2008, Iceland and the International Monetary Fund (IMF) finalized an agreement on a $6 billion economic stabilization program supported by a $2.1 billion loan from the IMF. Iceland's banking system had collapsed as a culmination of a series of decisions the banks made that left them highly exposed to disruptions in financial markets. The collapse of the banks also raises questions for U.S. leaders and others about supervising banks that operate across national borders, especiall… more
Date: November 20, 2008
Creator: Jackson, James K.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Global Financial Crisis: Analysis and Policy Implications

Description: The world has entered a global recession that is causing widespread business contraction, increases in unemployment, and shrinking government revenues. The process for coping with the crisis by countries across the globe has been manifest in four basic phases. The first has been intervention to contain the contagion and restore confidence in the system. The second has been coping with the secondary effects of the crisis, particularly the global recession and flight of capital from countries in … more
Date: July 2, 2009
Creator: Nanto, Dick K.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Global Financial Crisis: Analysis and Policy Implications

Description: The world has entered a global recession that is causing widespread business contraction, increases in unemployment, and shrinking government revenues. The crisis has exposed fundamental weaknesses in financial systems worldwide, demonstrated how interconnected and interdependent economies are today, and has posed vexing policy dilemmas. This report describes the financial crisis in detail, including various countries' methods of coping with and adapting to the situation; the role of Congress i… more
Date: July 10, 2009
Creator: Nanto, Dick K.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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China and the Global Financial Crisis: Implications for the United States

Description: This report discusses the economy of China and how it is has been affected by the recent economic downturn. China has recently enjoyed one of the world's fastest-growing economies and has been a major contributor to world economic growth, but several Chinese industries have been hard by the crisis, and millions of workers have been laid off. This report explores this issue in brief, including what actions the Chinese government is taking to combat the problem, as well as what actions China may … more
Date: June 3, 2009
Creator: Morrison, Wayne M.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Countercyclical Job Creation Programs

Description: To counter the effect of recessions on workers, Congress has passed legislation to spur job creation through increased spending on public works (infrastructure) and public service programs, revenue sharing with state governments, and employment tax credits. Although the economic stimulus measure enacted during the 110th Congress did not include these direct job creation approaches, additional spending on infrastructure in particular was considered before Congress recessed. (See CRS Report RL343… more
Date: January 15, 2009
Creator: Levine, Linda
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Job Growth During the Recovery

Description: Congress in recent years passed a number of bills intended in part to jump-start a recovery in the labor market from the recession that began in December 2007. Policymakers are interested in how employment has responded to stimulus measures to determine how effective the legislation has been and to decide whether additional job creation legislation is warranted. This report discusses this topic in brief.
Date: September 30, 2010
Creator: Levine, Linda
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Troubled Asset Relief Program (TARP): Implementation and Status

Description: The Troubled Asset Relief Program (TARP) was created by the Emergency Economic Stabilization Act1 (EESA) enacted on October 3, 2008, to address the ongoing financial crisis. This report provides a brief outline of the programs created under TARP, recent changes made by Congress, and a summary of the current status and estimated costs of the program. It also provides an Appendix that contains detailed discussions of the individual TARP programs. This report will be updated as warranted by market… more
Date: March 4, 2011
Creator: Webel, Baird
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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European Union Enlargement

Description: The European Union (EU) has long viewed the enlargement process as an extraordinary opportunity to promote political stability and economic prosperity in Europe. U.S. Administrations and many Members of Congress have long backed EU enlargement, believing that it serves U.S. interests by advancing democracy and economic prosperity throughout the European continent. Some U.S. officials are concerned that "enlargement fatigue" as well as the EU's ongoing financial crisis could hinder EU expansion.… more
Date: April 4, 2012
Creator: Archick, Kristin
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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U.S. Motor Vehicle Industry: Federal Financial Assistance and Restructuring

Description: This report reviews the U.S. automotive industry at present, aspects of the industry's financial situation, and relief options. It includes an analysis of the current situation in the U.S. automotive market, including efforts to address problems of long-term competitiveness and the impact of the industry on the broader U.S. economy. It focuses on financial issues, including credit questions, and legal and financial aspects of government-offered loans or loan guarantees. This further includes co… more
Date: December 3, 2008
Creator: Cooney, Stephen
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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