• Geithner Unveils New Program to Replace TARP

    Treasury Secretary Timothy Geithner unveiled the new Financial Stability Plan this morning. This replaces the Troubled Assets Relief Program, and at first glance it has a big price tag. The Washington Post reports the "multi-faceted plan could commit $1.5 trillion or more in public and private funds to rescue banks and financial institutions and thaw frozen credit markets." Lynn Sweet of the Chicago Sun-Times provides a full transcript here . Here is an excerpt of the speech. You can get a full transcript or watch the full speech at t new website the Treasury Department has set up to ensure "accountability and transparency." The site is financialstability.gov . Apart from the speech, the best resource at the site right now is this fact sheet .