The Role of TARP Assistance in the Restructuring of General Motors

[Excerpt] This report analyzes the crisis leading to Old GM’s bankruptcy, the U.S. government’s assistance to, and role in, the new company, the progress that General Motors Company has made since it was created, and the recoupment of the U.S. government’s assistance for GM

TARP Assistance for Chrysler: Restructuring and Repayment Issues

[Excerpt] During the recession, both of these U.S. automakers and two auto financing companies, Chrysler Financial and GMAC, received federal financial assistance from the Bush and Obama Administrations. Alone among the world’s major automakers, Old Chrysler and Old GM filed for bankruptcy and, with oversight from the Obama Administration as well as the bankruptcy court, restructured their operations in an attempt to become more competitive companies. Both bankruptcies took place in the summer of 2009. Reasoning that Chrysler was not financially strong enough to be an independent company, the Obama Administration reached an agreement with Fiat to take over the management of New Chrysler in a bankruptcy reorganization; Fiat also received a 20% equity ownership stake in the new company. The U.S. government’s assistance to Chrysler ultimately resulted in New Chrysler owing the government several billions of dollars in loans and the government having an initial 9.9% ownership stake in New Chrysler. In May 2011, the loans directly owed by New Chrysler were repaid; in July 2011, Fiat purchased the U.S. government’s remaining interests in the company, thereby ending direct government involvement with New Chrysler. The TARP assistance for Chrysler, however, was not fully recouped due to losses in the bankruptcy process and because the ultimate value of the government’s ownership stake in Chrysler was less than the amount of outstanding TARP assistance. This report describes the progress that New Chrysler has made since it was created from the sale of the Old Chrysler assets in July 2009 and the path of the divestment of the federal government’s stake in Chrysler

The Emergency Economic Stabilization Act's Insurance for Troubled Assets

Many observers trace the root cause of recent instability in financial markets to uncertainty surrounding the value of widely held securities that are based on mortgages and mortgage-related assets. The introduction of the Emergency Economic Stabilization Act of 2008 (EESA) was designed to address said financial instability through a variety of measures, including an insurance program for "troubled assets." This report briefly summarizes and analyzes the insurance program contained in the enacted version of the EESA

Insurance Agent Licensing: Overview and Background on Federal "NARAB" Legislation

This report discusses the federal proposal addressing multiple state insurance producer licensing requirements through the creation of a National Association of Registered Agents and Brokers (NARAB)

The 2004 Insurance Broker Investigations: An Overview

From Summary: This report briefly summarizes the events that occurred and the issues, they raised in regards to violations of state laws, against Marsh & McClennan Companies and Marsh, Inc, which the Attorney General of the Sate of New York filling a civil law suit

Terrorism Risk Insurance: Issue Analysis and Overview of Current Program

Report that looks at the background and current Congressional status of Terrorism Risk Insurance Act of 2002

114th Congress

This report discusses insurance regulatory issues addressed by legislation in the 114th Congress including the degree of the authority of the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) over insurers (H.R. 1478/S. 798), international insurance standards (S. 1086 and H.R. 2141), and the licensing of insurance agents and brokers (H.R. 26/P.L. 114-1)