ng to the congressional oversight panel with secretary timothy geithner talking about tarp. [captioning performed by national captioning institute] [captions copyright naaional cable satellite corp. 2010] . >> strain in the ability to lend to small businesses. finally, it seems clear, the treasury's efforts to reduce mortgage foreclosures is not working. approaches,d date the panel must know if potential risks have been assessed. we must also evaluate if the impact has been measured, using credible metrics to measure the success or failure of programs. has the treasury department targeted the highest degree of accountability and transparency. reasonable people might approved or not approve of the plan, but no one questions that the progress should be measured against clear benchmarks for success. reasonable people might define financial stability in different ways, but everyone agrees we can best gauge the stability by measuring the stability of our banks. treasury has called for additional stress test. reassnable people might disagree about how to help small businesses gain

secretary timothy geithner took questions about home loan modification at 8 tarp over site meeting. he also announced that over 75% paid to banks has been repaid. this portion is about one hour and 15 minutes. >> since your last appearance, the panel has issued six more reports. our latest reports have covered a great deal of territory, from the government's intervention in specific companies, and its broader efforts to shore up markets like a small business lending and housing. the reports reflect your ambitions. under your leadership, treasury has launched at least one dozen distinct programs. it seems these efforts have had an important impact. markets have calmed greatly. the size and scope of these programs also reflects the variety of severe strains on our financial system. about 3000 banks, 6000 -- six of our largest institutions are dangerously exposed to the real- estate market many more have still not digested the toxic assets on their balance sheets, and are now facing new demands to pay off that mortgages they sold to fannie and freddie. the financial problems of these b

today it heard testimony from treasury secretary timothy geithner. >> to date, more than half of all the money dispersed through the tarp has been repaid. tarp investments have generated $24 billion in additional revenue for tax payers. >> woodruff: that money has come from large banks who repaid the government. but major sources of friction remain including a part of the tarp program aimed at helping homeowners avoid foreclosure. >> what is the metric for success here? is it 120,000 families saved over 15 months at a time when 186,000 are posted for new defaults and foreclosures every month? >> you look at its results family by family, foreclosure by foreclosure, change the monthly payments, but recognizing that and on this, i think we agree, these programs were not designed and could not have been designed responsibly to try to prevent a set of foreclosures that tragically were probably unavoidable. >> woodruff: geithner acknowledged the government will likely lose money on the bailout of insurance giant a.i.g., but he said overall the program helped stabilize the economy at a pivo

it is my hope that secretary timothy geithner will assist the panel in addressing a number of significant questions, including the contemplation of the application of additional tarp funds to new programs, or the application of additional tarp funds to existing programs? will they be applied to any financial or non-financial institutions such as aig, gm, chrysler, or anc? will the investors received dividends in cash? what is the exit strategy with respect to these institutions as well as the other tarp recipients? has tarp enshrined into our law of the concept of too big to fail? have established an implicit guarantee for the benefit of our largest financial and non- financial instiiutions? will the pending legislation ratify and codify the existing standdrds? we will treasury yet again allocate additional funds to goldman sachs, citigroup, bank of america, and a group of other significant firms if they notified treasury today that they were experiencing a severe liquidity and solvency crisis? how would the answer change if the date approached treasury and the new york fed after the fina

that the federal reserve was ahead of the crisis because the new york fed, and in particular, timothy geithner the treasury secretary had a big role in this. the fed was involved before the crisis trying to get better organization and control of these cds because at the time it was pretty chaotic. there was an effort to get it better documented, more transparent, etc. and i am assuming the fed is continuing to work on this process. the issue of exchanges, exchanges are good. they allow for price discovery, setting up margins and provided capital so that you do not have to worry about your counterparty when you make a traded derivatives. but exchanges are not always practical for very idiosyncratic, small, specialized types of derivatives. they exchange where you have a large quantities of homogenous product. that still does not mean they are not regulated. because in the new bill, and in the new regulatory rules, there would be substantial capital the banks would have to have behind it. there would have to be transparency and considerable responsibility for regulators to oversee it. one of the

when democrats but people like timothy geithner in top positions they become accessories to wall street, and labeling and strengthening the right-wing populist for electoral gains, i would say that the situation is the one lady from what you describe. these moderate policies from the administration are strengthening and not weakening the white -- right-wing backlash. when we get on the correct side of this divide it is going to be progress of populism the challenges a weak economic force and is in close, clear solidarity with people. host: do you listen to blend back at all? guest: not if i can help it, i will read the transcripts. host: "putting americans -- he is telling radio listeners that progressives are preparing to put americans into concentration camps." guest: unfortunately this kind of rhetoric continues today. i was on his program once. i understand i am not to be invited back again. host: why? guest: he invited me on the television show to attack general electric, buu i also challenge the owners of his show and i do not think he was happy with the segment. crazy things are

. >> in just a few moments, treasury secrettry timothy geithner testifies thht nearly 75% of tarp money has been repaid. and a little more than two hours, admiral thad allen's of briefing on the gulf oil spill. after that, reaction to a "rolling stone" profile of general stanley mcchrystal in which he criticized president obama and other in ministration official. our coverage includes the white house briefing and president obama's commons late this afternoon. one all washington journal" tomorrow morning, we llok at the future of afghanistan commanded stanley mcchrystal. he is meeting with president obama wednesday about his criticism of the administration in a magazine article. our guest is james kitfield of the of the national journal." more from john shattuck, a member of the energy and commerce committee. and then we will be joined by ed schultz to talk about his book, "killer politics." washington journal is live on c- ppan every day at 7:00 a.m. eastern. >> c-span -- our public affairs content is available on you can also connect with us on twitter, facebook, and youtube. sign up f

in january of 2009 when we heard that timothy geithner was going to be appointed to be secretary of treasury, what we heard from folks from the other end of the hall, we need to confirm him because he worked with paulsen on the plan. to me, that meant this guy should not get near. we have had the federal government take over more and more authority, usurp of individuals's monies, their credit, the potential capital out there to create private jobs, just suck it up in washington and mean tile time, federal reserve is printing lots of money. and so we are doing all kinds of good things and it is continuing to drive us toward a cliff and for anybody to stand up and try to make it sound like great news , 431,000 new jobs last month, that's the most in a number of years, it's fantastic, it's great, and not realize or not be forth coming enough to point out that nearly all those jobs, the vast majority of them were temporary census jobs, it's just not right and not doing right by america. and so in this article, "wall street journal" points out some of the problems. this says because the temporary

faleery sumners, and timothy geithner, and rahm emanuel do not see themselves as part of the movementwe often see them as part of the problem. i urge you all to read his newest book, "a presidency in peril." here is the questi is for debate, is this obama's problem or is it ours? what can present rigid what can progressives do to make sure that -- what can progressives do to make sure president obama does what is necessary, and how do we make sure that the guys behind obama on the cover of the latest book you not botched the opportunity for a new american renaissance of a better future for all americans? to give you our first perspective on this, let me introduce d'arcy burnearcey ber. she ran for congress and 2008 from washington state, and while she was doing that she organized 58 otherouse and senate candidates to campaign for responsible plan to end the war in iraq. that was unveiled at ts congress. two plays and central -- she plays an essential role in helping the progressive caucus because there are real force for change. please welcome her. [applause] >> when i was approached

faleery sumners, d timothy geithner, and rahm emanuel do not see themselves as part of the movement,ten see them as part of the problem. i urge you all to read his newest book, "a presidency in peril." here is the question is for debate, is this obama's problem or is it ours? what can present rigid what can progressives do to mak sure that -- what can progressives do to make sure president obama does what is necessary, and how do we make sure that the guys behind obama on the cover of the latest book you not botched the opportunity for a new american renaissance of a better future for all americans? to give you our first perspective on this, let me introduce d'arcy burnearcey bne she ran for congress and 2008 from washington state, and while she was doing that she organized 58 other house and senate candidates to campaign for responsible plan to end the war in iraq. that was unveiled at this congress. twplays and central -- she plays an essential role in helping the progressive caucus because there are real force for change. please welcome her. [applause] >> when i was approached abo

faleery sumners, and timothy geithner, and rahm emanuel do not see themselves as part of the movement, and we often see them as part of the problem. i urge you all to read his newest book, "a presidency in peril." here is the question is for debate, is this obama's problem or is it ours? what can present rigid what can progressives do to make sure that -- what can progressives do to make sure president obama does what is necessary, and how do we make sure that the guys behind obama on the cover of the latest book you not botched the opportunity for a new american renaissance of a better future for all americans? to give you our first perspective on this, let me introduce d'arcy burnearcey ber. she ran for congress and 2008 from washington state, and while she was doing that she organized 58 other house and senate candidates to campaign for responsible plan to end the war in iraq. that was unveiled at this congress. two plays and central -- she plays an essential role in helping the progressive caucus because there are real force for change. please welcome her. [applause] >> when i was