The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government,created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation.
The Goldman Sachs Group,Inc. is an American multinational investment bank and financial services company. Founded in 1869,Goldman Sachs is headquartered in Lower Manhattan in New York City,with regional headquarters in many international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 55th on the Fortune 500 list of the largest United States corporations by total revenue. In the Forbes Global 2000 of 2024,Goldman Sachs ranked 23rd. It is considered a systemically important financial institution by the Financial Stability Board.
The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets,which includes futures,swaps,and certain kinds of options.
The Office of the Special Inspector General for Iraq Reconstruction (SIGIR) was created as the successor to the Coalition Provisional Authority Office of Inspector General (CPA-IG). SIGIR was an independent government agency created by the Congress to provide oversight of the use of the $52 billion U.S. reconstruction program in Iraq. Stuart W. Bowen Jr. was appointed to the position of CPA-IG on January 20,2004 and served until its closure in October 2013. Sand served until its closure in October 2013. SIGIR reported directly to Congress,the secretary of state,and the secretary of defense.
The Corporate Fraud Task Force was a United States Federal Government-wide task force formed by President George W. Bush in the wake of corporate accounting scandals that shook investor confidence. Task Force establishment occurred through delegated legislation with the issuance of Executive Order 13271 of July 9,2002,‘‘Establishment of the Corporate Fraud Task Force’’.
First Busey Bank is a financial institution headquartered in Champaign,Illinois,and operates in Illinois,Indiana,and southwest Florida. It is owned by First Busey Holding,a financial holding company.
Debtor-in-possession financing or DIP financing is a special form of financing provided for companies in financial distress,typically during restructuring under corporate bankruptcy law. Usually,this debt is considered senior to all other debt,equity,and any other securities issued by a company —violating any absolute priority rule by placing the new financing ahead of a company's existing debts for payment.
The federal government of the United States empowers a wide range of federal law enforcement agencies to maintain law and public order related to matters affecting the country as a whole.
The Emergency Economic Stabilization Act of 2008,also known as the "bank bailout of 2008" or the "Wall Street bailout",was a United States federal law enacted during the Great Recession,which created federal programs to "bail out" failing financial institutions and banks. The bill was proposed by Treasury Secretary Henry Paulson,passed by the 110th United States Congress,and was signed into law by President George W. Bush. It became law as part of Public Law 110-343 on October 3,2008. It created the $700 billion Troubled Asset Relief Program (TARP),which utilized congressionally appropriated taxpayer funds to purchase toxic assets from failing banks. The funds were mostly redirected to inject capital into banks and other financial institutions while the Treasury continued to examine the usefulness of targeted asset purchases.
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George W. Bush. It was a component of the government's measures in 2009 to address the subprime mortgage crisis.
Commercial Paper Funding Facility (CPFF) was a system created by the United States Federal Reserve Board during the financial crisis of 2007–08 to improve liquidity in the short-term funding markets. It was reauthorized in March 2020 in reaction to the financial impact of the COVID-19 pandemic,including the 2020 stock market crash. The CPFF ceased purchasing commercial paper on March 31,2021.
Neil M. Barofsky,a partner in the Litigation Department of national law firm Jenner &Block LLP,focuses his practice on white collar investigations,complex commercial litigation,monitorships and examinerships.
The Emergency Economic Stabilization Act created the Troubled Asset Relief Program to administer up to $700 billion. Several oversight mechanisms are established by the bill,including the Congressional Oversight Panel,the Special Inspector General for TARP (SIGTARP),the Financial Stability Oversight Board,and additional requirements for the Government Accountability Office (GAO) and the Congressional Budget Office (CBO).
The Capital Purchase Program or CPP is an American government preferred stock and equity warrant purchase program conducted by the US Treasury Office of Financial Stability as part of Troubled Asset Relief Program that was launched in 2008. According to the first congressionally mandated oversight report published by GAO,"[TARP's] primary focus was expected to be the purchase of mortgage-backed securities (MBS) and whole loans... [but] within 2 weeks of enactment... the Treasury announced that it would make $250 billion of the $700 billion available to U.S. financial institutions through purchases of preferred stock." This followed a model initiated by the United Kingdom bank rescue package announced on October 8,2008.
The Fraud Enforcement and Recovery Act of 2009,or FERA,Pub. L.Tooltip Public Law 111–21 (text)(PDF),S. 386,123 Stat. 1617,enacted May 20,2009,is a public law in the United States enacted in 2009. The law enhanced criminal enforcement of federal fraud laws,especially regarding financial institutions,mortgage fraud,and securities fraud or commodities fraud.
The Small Business Jobs Act of 2010 is a federal law passed by the 111th United States Congress and signed into law by President Barack Obama on September 27,2010. The law authorizes the creation of the Small Business Lending Fund Program administered by the Treasury Department to make capital investments in eligible institutions,in order to increase the availability of credit for small businesses.
Mathew Pendo is an investment banker,having worked for Merrill Lynch and Barclays before taking a position as Chief Investment Officer of the Office of Financial Stability of the United States Treasury in 2011. After several years managing his responsibilities under the Troubled Asset Relief Program and coordinating divestiture of the portfolio,Pendo has returned to the private sector as an investment banker.
Timothy George Massad is an American lawyer and government official who served as the chairman of the Commodity Futures Trading Commission (CFTC) under President Barack Obama. He had previously been Assistant Secretary for Financial Stability at the United States Department of the Treasury,where he oversaw the Troubled Asset Relief Program (TARP) created by the U.S. government in response to the financial crisis of 2007–08.
Christopher Robert Sharpley was the Acting Inspector General of the Central Intelligence Agency (CIA) from 2015 to 2017. He was nominated by President Donald Trump in September 2017 to become Inspector General of the CIA but failed to receive confirmation in the United States Senate.
The Commodity Futures Trading Commission's Whistleblower Program was created with the 2010 passage of the Dodd-Frank Act. The program rewards individuals who report possible Commodity Exchange Act (CEA) violations. The program also extends anti-retaliation protections for whistleblowers who file claims.
