GAO Says Geithner Wrong: Only $32.6B in Uncommitted TARP

Transparency is a buzz word and a joke. Washington and Wall Street do not want us to know where the money is.

What did he do with 100 billion dollars? Did he cheat and hid it?

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.

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.

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.

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.

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!

Throw the bum out….

and we have to put up with a so called “journalist” like Stephoupolis carrying Obama’s water for him on the news.

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.

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.

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.

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.

Kris wrote: 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.
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That was sarcasm, right? The Sec. couldn’t do his taxes. We should assume his math is accurate? 3 other groups came up with the same number that differed from Tim’s. You think they all got the numbers wrong?
TimG can’t even schedule a TARP oversight meeting (last one held was under Paulson). He’s too busy asking for more oversight powers to oversee stuff.

People, We have a treasury secretary who didn’t pay his taxes for “three years”. Obama said it was a “mistake”! If it was a mistake, what kind of a dummy is this guy?!?!?!VERY, very sad. He’s a CRIMINAL.

No wonder we’re in trouble. He doesn’t even know how much is in his checkbook.

Tim Geithner has greed problems.

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.
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I respectfully disagree with this. The GAO is the entity, keeping it’s eye on things. As others have said. To miscount by 100+ billion? That’s absurd.
Trust the Treasury Secretary? The same one, that can’t manage Turbo Tax? The same one who was the architect for the AIG bail out, approved the bonuses, then lied when the anger came, after it was made public, about said bonuses?
The same Secretary that wants to violate the constitution, be granted unparalleled powers, and wants to set not only bail out recipients wages, but the wages of EVERY WORKING AMERICAN?????
I’ll take a pass on this. Everything about this administration is up to suspicion. Things are going on, shoved down our throats, and none of it adheres to the Constitution, or for the benefit of the people.

ISN’T IT OBVIOUS THAT THIS CLOWN DOESN’T KNOW WHAT HE’S DOING? IT LOOKS LIKE OBAMA HAS MADE MISTAKES IN CHOOSING OTHER LOSERS TO HIGH POSITIONS! WHAT DOES THAT TELL YOU ABOUT HIS WISDOM IN MAKING DECISIONS? FOLKS, BELIEVE IT OR NOT, WE’RE NO BETTER OFF SINCE OBAMA TOOK OFFICE! TAKE A GOOD LOOK; WHAT HAS HE ACCOMPLISHED? JUST MORE OF THE SAME BULL **** THAT GOT HIM ELECTED!!!

Lauren: It’s absolutely true. Washington and Wall Street have no interest in “transparency”. The two depend on each other for their power – democrat or republican – it doesn’t matter. Bailouts for the rich and famous is the most obscene case of trickle-down ever perpetrated on the “we the people”. But, we do nothing while Europeans at least show enough energy to get up and complain.

Geithner is a tax cheat and a liar!

Ind-dem No… He’s not

Simon Johnson is the former chief economist at the IMF & now prof at MIT, who has a great article titled “The Quiet Coup” in The Atlantic on how the US is following the classic banana republic economic meltdown. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.

Can we just drop the pretense and start calling the bank bailout what it is: Financial terrorism.
Terrorism can be defined as achieving one’s aims through fear. And it sure seems to me that bankers and their friends in government are extorting money from the taxpayers (you and me) with a threatening “or else” that goes something like this: “Give us the money or the entire financial system will implode.”
And as we fork over the extortion money, these corporate gangsters put us on the hook for trillions of dollars MORE.

Comforting news about “the only man who can save our economy.”

Obama and Geithner get snagged lying and running scams and they just keep doing it.

“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.”
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Jennifer NYC,
A. TEAM???? He Has NO team. He can thank Obama for that!
B. IF ? If they pay back…? PLEASE! Some of these instituions may GIVE it back just to keep Barney “Mr. McCarthyism” Frank out of their hair!
C. Since he hasn’t really done anything (finally announced part of the plan), then anyone else truly could have done this job!
D. Perhaps he is just NOT so sharp a tack as we were led to believe! After all, he has been right in the middle of all this for quite a while, not just since the election. He was supposed to have the great understanding, but that was obviously a serious overstatement.
Now for all those liberals out there, after watching this mess, the lack of cooperation between Treasury & the Tarp oversight people & the fiasco with the “Stimulator” bill language, I ask once again….
Why should any sane person WANT the government to control a universal healthcare system?

Geithner must have some real dirt on Obama in order to keep his job.
Any other sane person would have thrown this guy under the bus by now.
If you can’t pay your taxes, how can you account for billions of dollars?
We need to start protesting just like the English have.

Geithner must have some real dirt on Obama in order to keep his job.
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They go way back…in dreams of my MOTHER…..Geithner dad and Obies Mom were thick as thieves….

“The fact that he didn’t tells me that Obama just ain’t ready for prime time.”
Scott,
I like it! The Not Ready For Prime Time Adminstration!!!!!
Maybe they can resurrect John Belushi to play PRESIDENT JOHN BLUTARSKY !!!!
Sec. Geithner & VP Biden before Baney Frank’s committee……..
Sec. Geithner: Point of parliamentary procedure!
VP Biden: Don’t screw around, they’re serious this time!
Sec. Geithner: Take it easy, I’m pre-law.
VP Biden: I thought you were finance.
Sec. Geithner: What’s the difference?
Sec. Geithner: Ladies and gentlemen, I’ll be brief. The issue here is not whether we broke a few rules, or took a few liberties with your money – We Did!
Sec. Geithner: But you can’t hold a whole administration responsible for the behavior of a few, sick twisted individuals. For if you do, then shouldn’t we blame the whole political system? And if the whole political system is guilty, then isn’t this an indictment of all our governing institutions in general? I put it to you, Mr. Frank – isn’t this an indictment of our entire American society? Well, you can do whatever you want to us, but we’re not going to sit here and listen to you badmouth the United States of America. Gentlemen!

This is just pathetic.

Obama/geithner are REDISTRIBUTING OUR WEALTH…and don’t kid yourself Obmaa/Geithner are getting paid for it.

I am wondering, for all the anger and hatered being sprayed about if any of the commenters remember those other Lying and Cheating,Murdering admninistrators of the previous U.S. gov. Wepons of Mass Destruction, Imminent Threat…ect. I guess we Americans really are stupid if we simply read the headlines and call for the overthrowing of the elected government.In a country soooo full of Christians I truly wonder, What Would Jesus Do?

Earlr
I hear a tone of anger and hatred in your response as well. Are you happy with the treasury sec.? If you are, what things is he doing well that gives you confidence in him. It is clear to me he has a problem with arithmatic or his honesty. That is why I have zero confedence in him.

Obama makes Bush look one hundred times more honest. Replublicans bad, Dems especially the fraud Obama far far worse.

Earl,
Just because Obama is currently a more likeable character than GWB, do not confuse yourself.
While people like you are always foaming at the mouth about how Bush killed the Constitution, are you forgetting that just LAST week, it was this Democratic Congress that was passing laws to TAX a group of about 20 people who LEGALLY received bonuses?
A LEGAL situation that came about BECAUSE of the stupidity & incompetence of the Administration & the Congress!
Now I have never heard of any normal citizen’s rights being destroyed by the former administration, BUT I do know what Barney Frank & his buddies tried to do last week!
I am not ready to have the ultimate hypocrit, Barney Frank, deciding that I have too much by his warped standards and have him write a new tax bill to take my earnings!
Time for you libbies to stop using the past adminstration as an excuse for this one’s problems. Todays problem’s are Obama’s …. Not Bush’s!
Obama needs to focus on staffing the Treasury Dept and getting these “bank plans” completely out there and start on implementation.
I think we have all seen enough evidence in the past few months to PROVE that no sane person would really want the government running a universal healthcare system! Time for Obama to give that one up and focus on the economic issues of right here & now!

Tim Geithner is a incompetent Treasury Sec. He is a tax cheat, and a liar as well and needs to resign. He cannot keep his own books correctly how are to believe he can keep the countries books straight.

Obama doesnt care Hes smoking his cigarrets in the oval office with his feet up waiting for his cocktail party next wednsday. Laughing it up with his hollywood buddies like jay leno.Trashing rush limbaugh with his leftie buddies.Living in a dream world where he can make love with Iran russia taliban and terrorists like his spiritual mentor the rev wright taught him it would be.

Dollar$Bill,keep them all under a microscope. Don’t ever relax.

I really really don’t understand what President Obama has been expecting and waiting for Tim G. who doesn’t have overall number of TARP even. Obama should notice so many American’s who even voted for Obama have been
angershed over the tax-cheaters;
Kathleen Sebelius who has strongly supported ABORTION has owed taxes $7,040 in taxes and $878 in interest,Richardson, erupted $200,000,Tom Daschle, erupted $150,000
Hilda Solis owed taxes, $6,400, Timothy Geithner owed $34,000, Ron Kirk owed $10,000 as US Trade Rep., Nancy Killefer owed $947 Obama’s Chief Performance and Charles Rangel (D-Rep NY, Manhattan, my distric)

Thanks George for the update. Massive diff’ b/t the 2 figures.

The actual numbers aren’t really the issue. The real issue ought to be, why is there such an iron curtain obscuring the data in the first place?
It’s eerie, sad and pathetic that this is the way it’s gonna end.

While the headline is really gone, the basic story about reporting on TARP, Treasury and transparency is still live and important.

Humm.. 90% taxes levied on lawfully paid bonuses despite such tax laws being a violation of article 1 of the constitution..
The government is now part owner of AIG and has replaced the company (a private entity)CEO with a government appointee.
GM has also now been placed under government control and its execs have been replaced with Obama Appointees.
Our taxes are paying for mortgages that people could not afford and should have never received.
The auto makers who are now running on OUR tax dollars are offering programs to make your car payment for you if you lose your job.
Socialized medicine,
College tuition entitlements,
Giving unfettered election power to unions,
Unionizing alien workers,
Pleading with the G-20 on the need for a “world currency”,
Criminalizing business leaders within our own country,
How many of you wanted THIS kind of change?

IT IS NOT SURPRISING WHAT IS GOING ON IN OUR COUNTRY….WE LEGALLY MURDER OUR
UNBORN…DO ALL THESE PEOPLE WHO RANT AND RAVE EVER LOOK INTO THE GRUESOME WAYS OUR CHILDREN ARE BEING KILLED. I THINK WE NEED MORE PRAYERS FOR THIS COUNTRY TO GET ON THE RIGHT TRACK. THE MEDIA DOES NOT REPORT THE NEWS CORRECTLY..THAT IS ONE OF THE REASONS WE HAVE THESE PEOPLE RUNNING THIS COUNTRY. THEY BELIEVE WHAT THEY HEAR INSTEAD OF GOING ANY FURTHER.

Doesn’t Turbo Tax come with a calculator?

Clearly Timmy needs a calculator. Maybe the folks at TurboTax would lend him one?

Republican leaning posts I have read here and elsewhere really have nothing of substance to add to this particular discussion , only rather pathetic sophomoric attempts to demean a man they have never met and derail the actual gist of the matter at hand .
Par for the course…

Income from Tarp (including early repayments) is still money in the taxpayer kitty, yes.

Obama and his administration are completely incompetent. Sack the lot of them. Even the Europeans are beginning to feel contempt for Obama.

Counting doesn’t matter. Meet our next HHS leader. Another tax cheat added to the team. Obamenomics at its best.

Using wrong numbers? What, is he doing his taxes again?

Unfortunately, they aren’t allowing firms(banks) that don’t need the TARP $’s they’ve received to ‘refuse’ accepting the $’s. So what does TG mean when he talks about these TARP $’s being paid back?
Rep. Barney Frank is trying and/or has introduced legislation in his home state that the 148 Mutual Banks in Massachusetts have the ability to access TARP $’s.
Mutual Banks are the most financially sound in the country. What’s he and the administration up to? Could they want to get them on the Government ‘dole’ to garner control?

‘potential’ anything…does it have present value? What about potential losses? Banks and companies that aren’t returning the TARP funds?
I think the treasury should be keeping an honest check book, just like families everywhere. Can’t write checks for more than is in there or they bounce.

Couldn’t expect much more from a guy that couldn’t use Turbo Tax!
People, we are being duped and robbed.
Lawrence J. Hass, Clinton worker, already has said we probably will see the tax bracket lowered in order to pay for all these Obama programs…this said on RadioAmerica.org, in defence of Obama’s plans!
Being retired and living off a IRA, we cannot afford any more taxes!
Like most, all state and local, plus more Federal taxes are rising….we are maxed out…like the rest of you!

Republicans….stop,stop,stop. From day one your envy at losing has been so apparent and vengeful. From the first week nothing but criticisms about our new administration. No one picked on Bush that early….they gave him some time but I can clearly see that this is going to be four years of rebellion. How American is that? You are putting party over patriotism. I find that funny as you accused others of not being a patriot and now you are doing what is not patriotic by not supporting your president for one day. We don’t know what kind of a president he will be yet and he has met with the most unsound economic conditions ever. Why I ask over and over did you not do something sooner? Now you have all the answers. Why didn’t you put these ideas in play when you had the chance? You can’t escape this oversight or the legacy which you created. You can have Rush and Hannity rant and rave but where were they over the last few years? The banks were failing, the housing crisis was happening, jobs were lost and yet, they were not coming up with solutions so I ask “how is it you can criticize a president who is truly trying to straighten out YOUR MESS?

Thank you Gunny McClain very well said. I wonder how many of these people believe that the Children & Grandchildren of our “POLITICAL LEADERS” will ever see the hardships that they are putting on “OUR” Children & Grandchildren. Of course they will not. The Leaders are making sure that their family’s are well taken care of. They have “THE BEST HEALTH INSURANCE & PENSIONS” that tax payer money can buy. They have credit cards to buy gas and to fly around the world as they please.Mean while we are expected to “GIVE A LITTLE” so that the Illegals they are shoving down our throats can recieve the best care there is. Not one of these “GREAT LEADERS” have given anything towards the support of the “ILLEGALS” other than the tax payer money and benefits that we have alreaduy paid for. Semper Fi brother U.S.M.C. 1959-1965.

The headline needs to be updated showing the the GAO and Treasury are much closer that before and for the most part Treasury was correct.
See the update at the bottom of the article.

Really we just need leaders that get straight to the point with the facts. We need people who lead with the solid basic honest constitutional principles of freedom that our country was founded on. Our founding fathers worked hard and saved money and there were no bailouts.

Change we can believe in YES WE CON!