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Published: Tue, 21 Apr 2009
Description: Geithner TARP hearing
Automatically Generated Transcript (may not be 100% accurate)
" Trial Treasury Secretary Tim -- to socket and out of Brian Tallet congressional oversight panel this morning that a 109 million and change of your money. Is still available any may have hinted that the government would be willing to again. The repayment process from the Ventura -- and joining us now from that the dollar would be tells on the testimony rich."
" Now while Charlie says he also expects about 25 billion dollars of that money to be re paid. By the end of the year he says the vast majority of US banks have more than enough capital to be well capitalized. -- going to outline in the next few weeks of basic framework. For consumer protections coming from the Treasury Department says he supports changes. To bankruptcy to help underwater homeowners that is known as the crammed down or mortgage modification it is highly controversial. And he says the US regulatory system didn't respond adequately. Two of the challenges but this of course was a hearing about folks on the congressional oversight panel we say they just have not gotten enough information. From the Treasury Department they say it took months to even book the Treasury Secretary to get him to testify. Here was his response."
" I believe in the importance of transparency accountability oversight I think it is critical to our credibility. Respect what you're doing in this context I will commit to make sure that we have as effective a working relationship as possible so you have the information you need. An intense -- interaction with us help you do you do your jobs that is in our interest."
" Treasury Secretary says the department is still looking at additional ways to help the housing market and he says that he's all for banks repaying the TARP money. As long as their regulator signs off because they have enough capital and it works for the entire system."
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