Quick Question For SEC: Why Is SONY GSN Speculating TARP In Its Valuation?

Why is SONY - Game Show Network, speculating its valuation with TARP?

Just asking.

#DOJ #FBI #SEC

Oh, and thanks Wikileaks!

Responding to the collapse of numerous financial institutions in late 2008 which resulted in thevirtual seizure of credit markets, U.S. Treasury and Federal Reserve officials prompted President Bush’s administration and Congress to act immediately to pass the EmergencyEconomic Stabilization Act of 2008. The measure established the Troubled Asset ReliefProgram (TARP) and authorized the U.S. Secretary of the Treasury to spend up to $700 billion to purchase distressed assets from banks and other financial institutions. Thesetroubled assets consisted primarily of mortgages and related derivative securities (referred toas collateralized debt obligations or mortgage-backed securities) which became non-performing and/or illiquid in secondary markets resulting in a system-wide collapse ofconfidence. 

The TARP was intended to restore a measure of confidence by relieving financialinstitutions from critical exposures that constrained their ability and willingness to lend capitalin markets critical to the functioning of everyday business in the economy. The measure, firstintroduced in mid-September, was ultimately passed and enacted in early October aftersignificant deliberation.The initial funding authorization of the TARP was $350 billion and was released upon passageof the measure on 3 October 2008. In response to developments and conflicting opinionsregarding the employment of TARP funds, the financial rescue plan was changed from theoriginal strategy of asset purchases to one of direct capital infusions into critical largeinstitutions. Ultimately, amid mounting pressure to open the TARP to key industries such as theautomotive sector, President Bush used executive authority to declare that TARP funds could be used for any purpose deemed necessary to mitigate further damage to the financial system

Wikileaks release of GSN SONY Equity Valuation Report With Exhibits on TARP 2009 by Beverly Tran on Scribd

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