H.R.384 - TARP Reform and Accountability Act

To reform the Troubled Assets Relief Program of the Secretary of the Treasury and ensure accountability under such Program. view all titles (3)

All Bill Titles

  • Official: To reform the Troubled Assets Relief Program of the Secretary of the Treasury and ensure accountability under such Program. as introduced.
  • Popular: TARP Reform and Accountability Act as introduced.
  • Short: TARP Reform and Accountability Act of 2009 as introduced.

Comments Feed

  • stonyeagle 01/12/2009 2:25pm

    Why should we trust them to oversee the tarp program. These are the same people that said their was no problem with Fannie and Freddie Mac.

  • Anonymous 01/13/2009 9:29am

    wE NEED A PUBLIC WEB SITE WITH ALL EXPENDITURES LISTED

  • kenbyrne 01/14/2009 9:29am

    Does TARP need revision? Yes of course. Should it be some mumbling, bumbling fool like Barney Frank to lead that effort? No way. He is part of a liberal group of vacant suits that set gov ernment targets for Freddie and Fannie to make mortgage loans to people that didn’t want them, couldn’t afford them and wouldn’t be able to pay them back. Then, surprise of surprises, they didn’t pay them back! Now Barney and friends want to fix something else…. please stop helping us! it hurts….

  • Comm_reply
    Anonymous 04/06/2009 7:17pm
    Link Reply
    + -1

    You are correct that it was a “mumbling, bumbling fool” in charge of changing the terms of the HUD programs. His name was Geroge W. Bush, the committee was chaired by Sen Shelby, and the year was 2004.

    Facts do not support the remainder of your assertions. Read the 2004 GAO report before futher embarassing yourself.

  • stevesharris 01/14/2009 9:46am

    I support HR resolution 53 to quickly debate and move forward on 384 and I would vote against 384. We have had a landmark year in which the American people have put their confidence in the President elect with regard to the economy and other key areas of concern and at the same time have overwhelmingly rejected the historic performance in Congress. I suggest we allow the release of funds to the president and allow him to live up to his promises for transparency, dialog and expediency. Just because the outgoing president did not live up to our expectations with respect to these funds does not take away from their importance, their urgency nor does it say anything about how the new administration will manage the funds. “We” the people have spoken. I respectfully ask that congress and Rep. Barney Frank step aside temporarily in this instance and let’s see what the executive branch can do. The arguments have already been heard, it is time to act.

  • bebethke 01/14/2009 12:56pm

    The new administration must be directed regarding foreclosure mitigation. Homebuyers were screwed by the system. The system must make amends. This bill insures that $40 to 100 billion will be used to stick it to the bankers who participated.

  • MarkEMedlin 01/14/2009 3:53pm

    Title I – Modifications to TARP

    Section 102 (a) (e) (3) – Strike this section. I don’t think Congress has enough knowledge of a company’s inner workings to direct divestitures.

    Section 102 (a) (e) (4) – Strike this section. This is heavy handed. The banks accepted the money on the terms given. We cannot change the rules once the deal is done. We don’t allow business to business transactions to work this way.

    Section 102 (a) (f) – Strike this section. As shareholders the taxpayers should get their information just like any other shareholder. Having an “observer” in the room gives the taxpayers an extra voice in the board room while other shareholders do not have that option.

    Section 103 – Strike this section. This should not be retroactive. Again, it’s not standard business practice to make a deal and then change the rules after the deal is struck.

    Title II – Foreclosure Relief

    Section 203 (2) (3) (4) & (5) – Strike these sections. I believe that the only method required is insurance for banks that try to mitigate the foreclosure pursuant to section 204.

    Title IV – Auto Industry Financing – Strike each update in this section. The additional liquidity generated through the TARP money and stimulus plans should generate more demand in the automobile industry.

    Title IV – Clarification of Authority

    Section 401 – Strike any updates that give the Secretary authority to do anything other than purchase securities of lending institutions as specified earlier or insure institutions that work to modify loans as specified in section 204.

    Titles V & Title VI

    Sections 501, 502 & 601 – Strike these sections. This type of legislation got us in this mess in the first place.

  • Comm_reply
    Anonymous 04/06/2009 7:26pm
    Link Reply
    + -1

    Business contracts are amended every weekday in Bankruptcy court. The remainder of your proposals would not benefit the tazpayer. The majority of Americans no longer care what your position is on finacials, and if the shareholder is wiped out – we don’t care.

    The corporations lost the lat two elections, in case youo haven’t been keeping score. Look forward to increases in business and investment taxes. People first, business last.

  • knowledgeableindividual 01/15/2009 2:54pm

    LIKE RON PAUL STATED ON THE FIRST BAILOUT…“IT’S LIKE A FIX FOR A JUNKIE,” THIS OTHER HALF OF THE BAILOUT IS NOT GOING TO SOLVE OUR ECONOMIC PROBLEMS, IT’S ONLY GOING TO TEMPORARILY FIX THE PROBLEMS, BUT IN THE LONG RUN IS DETRIMENTAL TO THE NATION AND THE CITIZENRY…

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  • miternjrt 02/15/2009 11:39am

    Barney Frank and his committee need to go home tarred & feathered. This is a crime and they should all be fired for being foxes watching the hen house.

    Shame on them !!


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