Wednesday, January 28, 2009

Treasury Discloses Secret TARP Documents

Tim Geithner is moving fast. In this addition to the US Treasury's website made available literally hours ago, he discloses a variety of TARP-related documents that had not been publicly available previously, most notable among them being this disclosure about the Targeted investment program that the Treasury has established w/r/t keeping Citi alive.

The following statement is Geithner's justification to maintain a "transparent" view of the financial system "In the coming weeks, we will unveil a series of reforms to help stabilize the nation's financial system and get credit flowing again to families and businesses. Included in those reforms will be a commitment to increase transparency and oversight. Today, we are taking a step toward increased transparency by committing to place all of our TARP investment agreements on the Internet so that taxpayers can see how their money is being spent and the terms these institutions must agree to before we invest taxpayer money."

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