(CNN) – The Treasury Department launched an interactive new Web site Tuesday in an effort to bring about accountability and transparency to the Obama administration's Financial Stability Plan.
FinancialStability.gov, announced last month by Treasury Secretary Tim Geithner, is designed to track how tax dollars are spent in relation to the administration's financial stability, housing, and economic recovery programs. The "impact" page displays hard facts, hosting a map indicating locations where the department has funded transactions through the Capital Purchase Program. Clicking on a state provides a breakdown of when the transactions took place and the price paid for the assets.
According to the map, banks in Montana, Vermont, and New Mexico have received $0, while the remaining 48 states received investments "ranging from as small as about $301,000 to as large as $25 billion." Not surprisingly, New York received the most funding with over 80 billion.
Economic data charts, published lists of bank lending surveys designed to better track bank lending, and a search option which will display all physical contracts and agreements related to the financial stability plan are also featured.
And in an effort to enhance its user-friendly appeal, FinancialStability.gov includes a "decoder" section which defines common financial terms used throughout the site.
Good move. Now lets see what happens.
Oh cool, another Obama "transparency" website! Admit it, Obama, you are still on the campaign trail. Get to work, please.
Gee---a website with disclosure of how your money is being spent--didn't see the transparency screen of the "under the table" funding being circulated abroad--another government "Twitter,"--–don't you feel included?
People are begging for transparency and this is a another great step towards it. I appreciate this as long as it's kept up to date.
.... and the morons will complain about this amazing transparency.... see Kevin in Ohio and Sniffitt for explanation.
Do you want him to get to work or go away. Kevin in Ohio you never have anything good to say but even your grips contridict themselves. Even when he is transparent you cry. Other times you think he is up to something but not telling us. Go back to Europe if you dont like it.
I hate to beef up the GOPers with words of the past administration but could you imagine any transparency with the Bush administration. Did they even know how to spell the word?
And McCain...I don't think he would have been able to direct a web presence. Heck he's just now figuring out how to Twitter.
Obama is the right president at the right time.
Thanks for the transparency President Obama, how refreshing and what a nice change! Let';s see how those rabid rethugs spin this into something negative. BTW GWB bankrupted this country spending all our money in Iraq. President Obama is spending all his stimulus money in America and the rethugs have a problem with that!
Will the real Sniffit please stand up? Perhaps you should take your own advice. I know it pains you to see a president that shows his cards instead of palms them like Bush. Kind of prevents you from having a legit grip. Fret not, this is all part of Rush operation chaos.
Kevin> Don't you ever have anything positive to say about anything? You must be a miserable person. Sheesh.
Yes, he is being transparent about how money is being spent, as he promised...and somehow this is a bad thing?
Government bailouts need to stop. If the Government is going to continue bailing out these big corporations that have already made billions from the American People, the small businesses will not be able to compete. If the government would just let the Giants fall the small businesses would pick up the pieces and grow. The individuals that lose their jobs in the big companies would find jobs at the small businesses that would be growing.
Yet another important step to let the PEOPLE see what's really going on. I can't wait for the health care debate to be broadcast on C-SPAN so we can see the Republican Congressmen and Senators try to justify making no changes to the current system.
who cares? i'm done with these online gimmicks.
ave.joe is on to something. I do not feel like the big ones should be allowed to fail and still get paid, but it was Bush who started TARP. Obama should let them fail and let the little guys move up the latter. But since this is the tact he has taken at least he is being above board and transparent. He may be wrong headed (only time will tell that), but he is not corrupt.
Whether you beleive this site is legitimate or not, it provides information that news agencies, private companies and individuals can all use to reference and check facts against.
So before ranting about how this site is just more wool for the eyes of the sheep, how about you present some direct contradictions from your own research before you open your mouth and sound like an idiot by complaining about any attempt at transparency simply because you didn't vote for the guy.
I have very happy that we have obama as our president. I thank GOD I did vote for president obama. Our party Republican is now a party of trash. They better start supporting president obama on some of his agend if not I will never vote for them again. Our party (Repubilcan's) are just looking out for themself instend of looking out for us.
Now our party is now called party of No.
Obama is the right president at the right time.
president Obama God bles you and your families for the good jobs you are doing for all of us.
Some people would rather live in fear and ignorance.
avg.joe – to some degree you may be right, but there would be a lag. During that lag, the financial system would crumble crumble furhter than it has, resulting in even further losses in the stock market (including peoples retirement funds and so forth) and further tightening in lending, which would lead to more lost jobs (those small businesses would not be able to open without loans) declining home values etc. Further, when the dust finally settles, do you really think the small independent business would thrive? Most likely, some mega corporation that somehow profited off of (or at least survived) the whole mess would further expand their grip on us (the consumers). I think it sucks that corporate greed was allowed to get us to this point and that we are in a position where THEY have US over a barrel (even though THEY are the ones that have failed), but there are many mistakes of past administrations that are to blame.
Considering the secrecy of the Bush administration, this is refreshing. Of course, what can we expect from the far-right but more criticizing? Typical.
No new ideas. No new solutions, just more of the same vile.
Does anyone else notice how the far-right spews the same "talking points" over and over?
Again nothing new!
meh and AnnMM - I am giving Obama every bit as much respect and understanding that Bush received from the left wing the past 8 years. There is ZERO reason to trust this man.
Ok get this. They want to now control all employee pay. EVERYONES, NOT JUST THE CEO'S in the banking world.
Will the military budget be in there as well? Because we all know that this is the biggest expense that we are facing.
Obama is an awesome President. Good Job Mr. President.
@ "sniffit" who said "has anyone else noticed how every new website launched contradicts what's going on? is this a case of, let's show them what they want to hear and they'll buy it?"
That's right. [Insert GOPer co-opting regular liberal blogger's moniker and saying things he'd never say]
Try whatever you want to blunt the damage this does to the GOP, who set the gold-standard for secrecy, recalcitrance and un-responsiveness to public demands over the past 8 years...invent your conspiracies, fabricate new "facts" to contradict the real ones, or simply go on rants of denial. NOBODY CARES BECAUSE NOBODY'S LISTENING.
I appreciate the effort. Thank you Obama Administration!