Another billionaire investor whose investment outfits participated in TALF was Thomas Barrack, Jr.
Alerion TALF is a limited liability corporation and its main investors are the Leonard N.
For example, a prospective borrower interested in participating in TALF must do so through a primary dealer.
His Alerion TALF fund borrowed funds from the government at mostly fixed rates of between 2% and 2.46%.
On November 25, 2008, the Federal Reserve Board announced terms for the Term Asset-Backed Securities Loan Facility (TALF).
Keen to restore securitisation's credibility, Wall Street's main trade groups, too, want the TALF opened up to smaller rating agencies.
In addition, another TALF participant was a bank controlled by investment funds connected to billionaires John Paulson and Michael Dell.
Yorkville made its investment in the TALF deals through New Earthshell Corp.
FORBES: Penny Stock Hedge Fund Firm Got Government Rescue Loans
Under TALF, credit is extended to investors for the purchase of certain designated securities backed by student loans, auto loans and credit card debt.
FORBES: Penny Stock Hedge Fund Firm Got Government Rescue Loans
Since 2009 Yorkville Advisors has been an eligible borrower under the Term Asset-Backed Loan Program, or TALF, created by the Federal Reserve to support the consumer loan market.
FORBES: Penny Stock Hedge Fund Firm Got Government Rescue Loans
Any earnings generated from the TALF securities would thus potentially provide needed cash and realized gains for a hedge fund firm that appears to be in need of it.
FORBES: Penny Stock Hedge Fund Firm Got Government Rescue Loans
The Federal Reserve is widely expected to help by making commercial mortgage-backed securities eligible for its programme (known as the TALF) to support the securitisation market with subsidised loans.
ECONOMIST: The American economy: Better than it looks? | The
New Earthshell, a subsidiary of YA Global Investments, funneled the contributions of two Yorkville funds to YA TALF Holdings, a special purpose entity that was formed to purchase asset-backed securities.
FORBES: Penny Stock Hedge Fund Firm Got Government Rescue Loans
An investment vehicle connected to Stern, Alerion TALF Fund, made the U.S. government financed investments as an eligible borrower under the Term Asset-Backed Loan Program, according to documents released by the Federal Reserve on Wednesday.
Many of the names of the investment funds participating in TALF have remained a big secret, but the Federal Reserve is required under new financial reform legislation to disclose all of their identities later this year.
FORBES: Penny Stock Hedge Fund Firm Got Government Rescue Loans
This connection between tax dollars and contract awards to corporations with ties to countries like Iran has been exacerbated by Washington's TARP (Troubled Asset Relief Program) and TALF (Term Asset-Backed Securities Loan Facility) outlays undertaken thus far.
The TALF was created by the Fed to lure capital from the sidelines to support the consumer loan market by extending credit to investors for the purchase of certain designated securities backed by student loans, auto loans, and credit card debt.
For example, some believe the government had little choice but to step in and take over the insolvent Fannie and Freddie enterprises, and the TALF program perhaps contributed to the flow of credit during the worst days of the financial crisis.
应用推荐