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GAO Says Geithner Wrong: Only $32.6B in Uncommitted TARP
April 01, 2009 10:22 AM
On "This Week" Sunday, Treasury Secretary Tim Geithner told me that there was about $135 billion of uncommitted funds left in the TARP, the government's financial rescue package.
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.
An official Treasury response to come ...
--George Stephanopoulos
UPDATE: GAO officials tell ABC's Charlie Herman that they now believe there are about $109 billion available in TARP. The office accepts Treasury accounting for all but the $25 billion Treasury estimates will come from financial institutions returning TARP money.
April 1, 2009 in The Economy | Permalink | Share | User Comments (120)
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Transparency is a buzz word and a joke. Washington and Wall Street do not want us to know where the money is.
Posted by: Lauren | Apr 1, 2009 10:59:20 AM
Can't count? He must have run our of fingers and toes!
Posted by: Greg | Apr 1, 2009 11:02:25 AM
What did he do with 100 billion dollars? Did he cheat and hid it?
Posted by: Yep | Apr 1, 2009 11:02:53 AM
I am much more inclined to accept the numbers of the tax cheater.
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One could not author such a script.
Posted by: Dollar$Bill | Apr 1, 2009 11:04:39 AM
Ok...when are we going to start seeing this "transparency" we're always hearing about? So far, it seems the most transparency we've been seeing is between the ears of our government officials.
Posted by: Terrence O'Day | Apr 1, 2009 11:05:49 AM
This is absurd. First, Geithner can't figure out how to pay his taxes. But Obama appoints and the Senate confirms anyway. Now, this clown can't be forthright about how much is left in the TARP fund, and he's so politically ignorant that he thought he'd get away with a $100 billion-plus misstatement.
He needs to go, period.
He lacks the stature and gravitas necessary for the task at hand.
Obama bears much of the blame for having picked this bozo in the first place.
But hey, I didn't vote for Obama or the pathetically inept judgment he's displayed so far: Daschle; Geithner; talking to the Taliban; trying to run GM; etc.; etc.
Tell me, all you Obama nuts, is THIS the change you wanted?
Posted by: Scott | Apr 1, 2009 11:06:56 AM
Trust me. I'm your Uncle Sam. I have it here somewhere.........oh there it is - laying next to the 6 Trillion in I.O.U's to the Social Security Trust Fund.
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We are the most transparent administration evah!!
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Thieves.
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You friggen taxpayer are a loopy bunch.
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I keep mouchin' off you and you keep giving me more. BAHRAH!!!!
Stupid Americans.
Posted by: Gov_eats_money | Apr 1, 2009 11:09:49 AM
Geithner's an incompetent, cheating dud.
We're so screwed.
Posted by: Oink | Apr 1, 2009 11:09:52 AM
Looks like Obama and his crew are a lot like the folks we just got rid of. We need a military coup to save our country, elected officails will never do.
Posted by: david | Apr 1, 2009 11:10:53 AM
What an IDIOT! Throw this IDIOT out now while there is still time!
Posted by: J.D. | Apr 1, 2009 11:11:07 AM
Treasury Secretary Timothy Geithner said "if the banks pay back some of the loaned money" they would have roughly $135B left....as usual, the news media is not stating the facts correctly and once again starting trouble for Mr. Geithner, who is trying to do the job of Superman in getting our economy back on track...if some other stumblebum was in there, we could be looking at breadlines right now....thankfully, Mr. Geithner and his team are working to get this right.
Posted by: Jennifer NYC | Apr 1, 2009 11:12:00 AM
LOL! I'm sorry but this is alomost funny! This is what you get when you appoint a tax cheat! This administration is a JOKE!!!
Posted by: dd22 | Apr 1, 2009 11:13:04 AM
It's no wonder the rest of the world hates us! Anytime we let a bunch of SPINELESS WHIMPS run our Government! What a dam shame!
Posted by: J.D. | Apr 1, 2009 11:13:46 AM
How can you miscount 100,000 Million?
I want the stupid president back - he was much better that this dope smokin' rat.
Posted by: anon | Apr 1, 2009 11:13:55 AM
Throw the bum out....
Posted by: Lumberman_63 | Apr 1, 2009 11:15:21 AM
Obama and Geitner are lying to us while they rob us blind, and we are allowing them.
Posted by: PresGov | Apr 1, 2009 11:15:52 AM
and we have to put up with a so called "journalist" like Stephoupolis carrying Obama's water for him on the news.
Posted by: wlather | Apr 1, 2009 11:16:50 AM
Amateur hour continues.
Change!
Posted by: John Galt | Apr 1, 2009 11:17:13 AM
Jennifer,
ONLY the government counts money on that side of the ledger when IT'S NOT THERE.
It would be equivalent to writting in your next two checks without getting paid yet, and then claiming you have $2,000 more than you actually do.
It's what tax cheats do.
It's not what American families do.
Posted by: Duh | Apr 1, 2009 11:17:28 AM
If the Secretary says $135B remains who are you to dispute that? He has the funds and knows how much was given out and to whom and when. Take it that the Secretary was right.
Posted by: kris | Apr 1, 2009 11:18:58 AM
George Stephanoupolis will cover for the tax cheaters in this administration and he will make sure to report it on the so called news on ABC while Brian Gibson sits there with his "what, me worry?" look. Funny how George can even be trusted to report on politics on ABC, oh never mind, they all voted for Obama at ABC anyway.
Posted by: mark | Apr 1, 2009 11:19:53 AM
.
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Geitner lied. http://tinyurl.com/dlpckj
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If he was in charge of GM he would have been fired 3 days ago.
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Posted by: Lies | Apr 1, 2009 11:21:01 AM
Could we put George S. and his producers in as head of Treasury?
I mean, I know TimmyG was only off by $100 billion dollars, but it's the principle that counts.
Posted by: WSLS-Webguy | Apr 1, 2009 11:21:15 AM
Where is the outrage?!!
Posted by: Don | Apr 1, 2009 11:21:46 AM
I am starting to miss President Bush more every day. Even though I didn't agree with him at least I knew where he stood on the issues, that he was frank with America, and that his people were at least HALFWAY capable - unlike this Obama Administration made up of egghead with zero experience and tax cheats.
Posted by: bender | Apr 1, 2009 11:22:21 AM
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