The Treasury Department’s bank investments are paying dividends. But saying they have earned $6 billion for taxpayers, as Tim Geithner did, is a stretch.

Geithner said this past weekend that taxpayers have made a small profit on their investments in banks via the Troubled Asset Relief Program. “We’ve already earned about $6 billion for the taxpayer on those investments,” Geithner said Sunday on ABC’s “This Week.”

The claim seems to reflect regular payments banks have made since Treasury rolled out the TARP last fall.

Treasury didn’t return a request for comment, but the agency had received $6.85 billion in bank dividend and interest payments through June…

For the rest of the story…

TARP profit claim bugs skeptics – Aug. 4, 2009

Posted using ShareThis

After a day long meeting with 25 servicers at the Treasury Department, the Administration for the first time announced a specific goal for modifications by the industry under the Treasury’s $75 billion Home Affordability Modification Program — 500,000 by November…

For the rest of the story…

Administration Tries Again to Stanch Foreclosure Tide – FOXBusiness.com

Posted using ShareThis

Treasury Secretary Timothy F. Geithner today sought to downplay the idea of a second economic stimulus plan, saying the need for another program is a decision the administration “can’t really make” now.

In an interview on CNN’s “Fareed Zakaria GPS,” Geithner also was asked about reining in federal borrowing, whether tax increases would be needed and whether the administration should curb what critics say is its anti-business rhetoric.

Geithner on stimulus, U.S. debt surge and business-bashing | Money & Company | Los Angeles Times

Posted using ShareThis

__________
“Investor Education for Main Street America”