(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.
pete March 31st, 2009 4:03 pm ET
Ok get this. They want to now control all employee pay. EVERYONES, NOT JUST THE CEO'S in the banking world.
Will that be before or after they build the NAFTA Superhighway?
Pete, we have real problem right now that need real solutions. We don't need a litany of conspiracy theories with solutions that only the people pushing them can claim to provide.
Transparency could make the American Taxpayer even more angry about how their money is being spent and the lack of oversight that we've had in this country.
Enlightened Voter get a clue GWB did not bankrupt this country spending all our money in Iraq. He did protect us from more terrorist attacks, which Big O will never do he's to affraid to say the word. The Big O isn't spending all his stimulus money in America. He is giving it all blindly to the thugs in these big corupations.
And if all of this isn't scarey enough we got bo overseas trying to convince other countries to go along with his plan to regulate how much anyone working in the banking industry makes. Whether or not the bank took bailout money or not! This is a total dictatorship!!
Kevin in Ohio – I'm not sure The president is the one on the campaign trail. Get over yourself already! You seem to be on the attack even before 2012.
What you hear from politicians isn't always what the politicians are saying! When Obama was concerned about AIG–etc, he knew then that he was going into the private sector and demand a resignation from GM's CEO! Now we know the rest of the first part of Obama's power/plans.
Good News! According to FinancialSecurity.gov, the bailed out ARMs will turn back into ARMs in five years. Of course, fat bankers will still keep the "incentive" money and then foreclose all over again. Will we ever learn?
Good News! According to FinancialStability.gov, the bailed out ARMs will turn back into ARMs in five years. Of course, fat bankers will still keep the "incentive" money and then foreclose all over again. Will we ever learn?
A website.... just like a piece of paper... only shows you what is written on it.
Vince, I do not beleive you are right. If the big corps fail their stock not all the others would disolve, which should make others pick up. Where do you think all of are lost savings is winding up?
And here I thought us "libs" were the hippies running around having acid dreams and hallucinating...but I guess not. Some of you GOPers live in very sad delusional worlds.
Mr. Tim Geithner, the people would like to know how many people are on your staff to assist you in making and advising the leaders of this country?
Has President Obama been able to reduce the monies for the war in Iraq? Obama kept talking about how much the war was costing so how much is it now? How much did you spend on monies to deploy the troops to Afghanistan recently?
Last, but certainly not least, ARE YOU GOING TO INCREASE FUNDS FOR THE MILITARY AND EQUIPPING OUR TROOPS FOR ALL THE UPCOMING EVENTS –KNOWN AND UNKNOWN!
Tim Geithner–since all the financial matters appears to be in your hands–answer these questions!
More information on how the government spends the money? Increased transparency? Boy, I can't wait to see what reasons the Republicans manufacture to be outraged about this...
I think this is a great idea, nothing like putting businesses under the scrutiny of the american people and the government! It will be some what uncomfy for businesses who have tried to cut corners and duck taxes because they won't be able to use the old rational "Whose going to know!" well, everyone will now!
@avage joe: Big Corporations take many, many people with them when they fall. The auto industry would take factory workers in many communities and the communities themselves, veders & suppliers (parts and raw materials to make the cars), truck drivers who bring the new cars to local dealerships, the dealerships themselves who depend on Detriot for inventory, the states who depend on the sales tax from new car sales, the DMV who registers new cars, repair shops who depend on repairing cars, car insurance salespeople and I could go on. Bailouts SUCK, but life would be HELL for tens of millions of folks if we didn't bailout these bozo's out, but the cost SHOULD be high scrutiny so this never happens again!
it's all a smoke screen....the term "transparency," isn't valid; just as "Hope and Change," were buzzwords. Obama and administration have already proved that they're liars through the lobbyists, the tax cheats, the signing of bills without 5 days of "sunshine," one big load of horse crap. This website is just another pretty little propaganda site where numbskulled liberals can go to make believe Obama's getting the economy on the right track, and to make themselves feel better about their uneducated vote...see...see...the pretty little colors and graphs...huh, libs?
Can someone please enlighten me on any promises the Big O has kept? And quit cring about this being handed to him he with all the Demonacrats controled the house and the senate the last two years and if they had any balls they could have done or not done just about anything they wanted.
@John in Ohio –
You're exactly the type of guy that believes what Obama's showing you....and that's exactly why the country's in trouble; due to liberal ignorance.
Sniffit March 31st, 2009 3:29 pm ET
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?
For the comment listed above, I thought us "libs" were the hippies running around having acid dreams and hallucinating…but I guess not. Some of you GOPers live in very sad delusional worlds.
God peel off the blinders for those who can not see that right now America is on a collison road! By what Constitutional authority does our President step into private companies–private lives–taking and choosing who "HE" wants to run companies–stepping over the BOARD OF DIRECTORS–and dictating what they will or can do such as with GM–Now Obama's message was SHAPE UP OR WILL SHIP YOU OUT across the seas to work with another automaker!
Moving Forward, I beg to differ all those that lose their jobs in those industries would be replaced with the smaller companies that grow. The demand for cars, insurance, ect is still going to be there. It may be on a smaller playing feild for a while but it would more than likely grow because fewer people would be hurting.
Please become a Democrat. You are too illiterate to be a Republican.
TCM – "Obama and administration have already proved that they're liars through the lobbyists"
I guess that's why a bunch of lobbyist groups are suing the administration. Another smoke screen right?
avg.joe – FACT: bush racked up the national debt more than any president preceding him. FACT:the AIG bailout was written by bush and paulson. FACT: bush didn't stop 911 which happened on HIS watch. FACT: you are delusional bud, get a grip, stop listening to rush and faux news and get the FACTS. YOu really sound ignorant but then you are a typical rethuglican.
Key Question: Will this website be as devoid of content and as useless as Recovery.gov?
Its not about gimmicky websites, comrade Obama. The damage has already been done with your reckless spending, we can all rest assured the money will be squandered. That is how government works.
In case you can't read fast enough! 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.