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During the financial downturn two years ago the firm formally known as JGW Holdco LLC and two of its subsidiaries, J.G. Wentworth LLC and J.G. Wentworth Inc., entered Chapter 11 bankruptcy protection after the company encountered liquidity problems in the midst of a tightening credit market. They laid off 120 of its 200 employees and closed its office in Las Vegas. But less than six months later they got a 100 million dollar investment and they were able to get rehire and rebuild again.

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Who took over Union Acceptance Corporation?

Union Acceptance Corporation was taken over by the federal government in 2009 due to financial difficulties and regulatory issues. The Federal Deposit Insurance Corporation (FDIC) was involved in the takeover process, as the company had significant losses and was unable to meet its obligations. This action was part of a broader effort to stabilize financial institutions during the economic crisis.


How much TARP money has been repaid as of 12-31-09?

As of December 31, 2009, approximately $180 billion of the Troubled Asset Relief Program (TARP) funds had been disbursed, with about $32 billion repaid by various financial institutions. The repayments primarily came from large banks that had received TARP funds during the financial crisis. The overall goal of TARP was to stabilize the financial system, and while some funds were repaid, many investments were still outstanding at that time.


What is something big that has happened in 2009?

In 2009, one of the most significant events was the inauguration of Barack Obama as the 44th President of the United States, marking him as the first African American to hold the office. This historic moment took place on January 20 and symbolized a major milestone in U.S. history regarding race and politics. Additionally, 2009 was marked by the global financial crisis, which continued to affect economies worldwide, leading to widespread discussions on economic recovery and reform.


Who signed the American Recovery and Reinvestment Act into law?

The American Recovery and Reinvestment Act was signed into law by President Barack Obama on February 17, 2009. This legislation aimed to stimulate the U.S. economy in the wake of the 2008 financial crisis through various measures, including tax cuts, infrastructure spending, and support for social programs.


What happend on February 2009?

In February 2009, the U.S. was in the midst of the Great Recession, and President Barack Obama signed the American Recovery and Reinvestment Act into law on February 17. This $787 billion economic stimulus package aimed to create jobs and spur economic growth through infrastructure spending and tax cuts. Additionally, the financial crisis continued to affect global markets, leading to increased unemployment and significant challenges for various industries.

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