Today U.S. Treasury Secretary Timothy Geithner introduced the Treasury Department's Financial Stability Plan, which will assist banks and credit markets with up to $1 trillion in public and private funds. Read the article in the Washington Post or Secretary Geithner's introduction of the plan on the Treasury Department's website.
In his introduction, Geithner mentions that the "Department of the Treasury, the Federal Reserve, the FDIC, and all the financial agencies in our country will bring the full force of the United States Government to bear to strengthen our financial system so that we get the economy back on track." On the Federal Reserve's website you can find Chairman Ben Bernanke's testimony before Congress about the Fed's efforts to boost the economy.
Geithner also remarks that the Treasury is creating a new website, FinancialStability.gov, to provide accountability to American tax-payers about how financial institutions are being regulated and whether funds are being used wisely. This website is still under construction, but it already contains a link to a seven-page fact sheet on the Financial Stability Plan.
For additional resources, see our guide to Business and Economic Information.
I like the plan and think that the accountability web site is a great idea. People would like to know where the funds are going, and an actual website tracking the appropriations will go a long way in building the people's trust.
ReplyDeleteRyan