US banks saved but rest of nation still drowning, Sigtarp finds

economic crisis

US government attempts to repair the damage done by the financial crisis have been successful as regards the major banks, but have failed to address rising unemployment and a lacklustre residential property market, according to the latest quarterly report from Neal Barofsky, special inspector-general for the Troubled Assets Relief Program (Sigtarp).

The report notes banks previously bailed out through Tarp – even those such as Citigroup and Bank of America, which Barofsky claims would probably

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ESRB narrows its macro-prudential tools

The European Systemic Risk Board is about to announce a slimmed-down list of potential macro-prudential tools, but who has the power to use them is still the subject of debate. By Michael Watt

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