During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

On April 13, 2012, the US Department of the Treasury released new cost estimates for the Troubled Asset Relief Program. Looking principally at actual and projected contractual cash flows, the document concludes that: "Overall, the government is now expected to at least break even on its financial stability programs and may realize a positive return." 

Losing money is embarrassing. And an embarrassed Jamie Dimon publicly admitted that J.P. Morgan Chase goofed. Three senior executives lost their jobs as a result. But politicians and regulators in Washington are rushing to leverage the bank's misfortune for their own gain.

Despite a $160 million outstanding lifeline, Treasury misrepresentation paints a rosy picture of success.

Congress should require banks to increase capital relative to their assets as asset size increases.

The Troubled Asset Relief Program should be run like a business with a goal of returning as much of the involuntary investment as possible to its owners--the taxpayers--along with a reasonable overall profit.

Polling data on the economic crisis, including opinions of TARP, the auto bailout, and the economic stimulus.

In the world after the crisis, how can we move toward reprivatization? Alternately stated, how can we put the enlarged Leviathan on a diet?