This Report is the product of a two-year bipartisan investigation by the U.S. Senate Permanent Subcommittee on Investigations into the origins of the 2008 financial crisis. The goals of this investigation were to construct a public record of the facts in order to deepen the understanding of what happened; identify some of the root causes of the crisis; and provide a factual foundation for the ongoing effort to fortify the country against the recurrence of a similar crisis in the future.
Previously Confidential BlackRock Solutions Maiden Lane III Counterparty Brief from November 5, 2008.
Approximately $3.3 trillion of the $10.7 trillion in U.S. Government programs have already been utilized.Most of these initiatives have been part of an effort to deploy unorthodox policy tools to keep credit flowing in the economy. However, the fundamental issue of “toxic bank assets” remains largely unaddressed by most of the U.S. Government programs to date.