Free Markets, Free People

Geithner Off By A $100 Billion?

It gives you great confidence in someone when they can’t even tell you how much is  left in a fund which they control.  Apparently Treasury Secretary Tim Geithner thinks he has about $132 billion left in TARP funds.

But the Government Accountability Office, a non-partisan federal agency, reports that figure is closer to $32 billion, which is what ABC News and other independent analysts thought.

The Treasury Department continues to insist GAO and others are double-counting commitments and underestimating potential paybacks.

So everyone but Treasury is wrong. I’m willing, at this point, to wait until a final determination is forthcoming, but I have to tell you, if I were a betting person, I wouldn’t be backing Geithner’s position.  And don’t forget how cooperative his department has been with the oversight folks.  

~McQ

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