Geithner Faces Critical Report on Bailout
20 Apr 09 | FT
Tim Geithner, US Treasury secretary, will face lawmakers in Congress on Tuesday morning, hours after publication of a report that criticises aspects of the bank bail-out and days before stress test results that could lead to the government taking larger stakes in the financial sector.
His appearance before the congressional oversight committee comes after increasingly confident public performances and tentative signs of improvement in parts of the economy.
But a report from the independent watchdog for the $700bn (€540bn, £470bn) troubled asset relief programme (Tarp) says Mr Geithner’s department is falling short in tracking public money used in the bail-out even as he prepares to steer the financial rescue in new and controversial directions. >>>