Financial Services
A Report Card for Geithner's First Year
WASHINGTON (TheStreet) -- Treasury Secretary Timothy Geithner was put into office with three essential goals: Repair banks, fix housing, and stimulate private investment.
While Geithner has come under sharp criticism recently for his role in the American International Group(AIG) counterparty scandal, it's worth taking a look at what he's achieved in a remarkably short period of time.![]() |
- TARP , the $700 billion bank-bailout program
- HAMP, which is using $275 billion in incentives to prod banks into easing mortgage terms
- PPIP, the initiative to clean up toxic assets, whose initial price tag was up to $1 trillion, but ended up whittled down to just $30 billion
- And a series of initiatives to help small businesses, which culminated on Tuesday with a $30 billion Small Business Lending Fund, whose acronym is TBD.
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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