Troubled Asset Relief Plan, TARP, was signed into being by Dubya Bush. Today the funds have been almost all paid back to the Government. Did it ever boil over? I don't know.. do you?
This chart above represents the percentage increase in 2008 vs. 2007 in mortgage loan Notice-of-Defaults that each company originated. Granted, some of these loans may have been sold, securitized etc, but they also kept a large number of originations which are likely performing at the same rate. This chart shows which firms had serious mortgage related risk management lapses. This does not include second mortgages of which Chase is also loaded to the gills. [SOURCE]
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