Here are the details on the changes to the TARP that will be proposed by the incoming Obama administration.Barney Frank says the funds should be released “under appropriate conditions”. It will be interesting to see if the new President likes taking his marching orders from Barney Frank or anyone else on Capital Hill.
Obama just crossed the wires saying “we are fundamentally going to change practices in using the next phase of the TARP”. Given that financial markets have finally simmered down, let’s hope he doesn’t tinker too much.
Also crossing the wires, Fed Governor Kroszner has resigned effective January 21.
