Mitigation Misses Ultimate Foreclosure Goals, Says Departing Legislator

Congressional Oversight Panel Chairman and former Delaware Senator Ted Kaufman (D) uses the analogy of a baseball player who simply swings at any pitch to summarize the fact that simply offering three million homeowners mitigation in their mortgages misses the ultimate goal of saving them from foreclosure.  (0:25)

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Feinberg: Compensation Principles Were 'Elementary'

Former Special Master of TARP Executive Compensation Kenneth Feinberg discusses the priniciples the Treasury Department outlined for setting up executive paychecks. (0:49)

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My Role Was A 'Sideshow', Says Feinberg

Former Special Master for TARP Executive Compensation Kenneth Feinberg agrees partly with the New York Times about his limited role in the economic process. (0:30)

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TARP Watchdog Concerned About Program's Effects On Small Businesses

“There is no doubt that there have been increased concentration in the banking industry due to TARP,” said TARP Congressional Oversight Chair Elizabeth Warren while voicing her concern for the health of small banks Wednesday in front of the Senate Committee on Finance. (0:25)

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Treasury Department Needs To Be More Transparent, Says Official

Special Inspector Neil Barofsky, Wednesday when testifying in front of the Senate Committee on Finance in order to give more credibility to his program and other programs led by the department. (0:41)

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Proactive Law Enforcement Is A Vital Part Of TARP Success, Says Official

Special Inspector Neil Barofsky says robust, proactive law enforcement was a key factor in the positive results the TARP program yielded. (0:11)

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Geithner Defends TARP

Treasury Secretary Tim Geithner tells the Congressional Oversight Committee on Tuesday that he is "on track" to shut down the Troubled Asset Relief Program (TARP) as scheduled, and defends the program's actions, saying that the program will be returning hundreds of billions of dollars of unused money to Congress. Geithner maintains that enacting the program was necessary, and it was successful in terms of fulfilling its core responsibilities. (0:38)
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TARP Tax Is 'Responsible And Prudent,' Says Treasury Secretary

During his testimony before the Senate Finance Committee, Treasury Secretary Tim Geithner cast levying a tax on large financial institutions as a "responsible and prudent" step in offsetting the costs incurred through the Troubled Assets Relief Program (TARP). (0:15)

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TARP Tax A Way To 'Dig-Out' Of Financial Mess, Says Geithner

Treasury Secretary Tim Geithner cast levying a tax on large financial institutions as a significant step in offsetting the costs incurred through the Troubled Assets Relief Program (TARP).

“This was an expensive financial crisis. It caused a lot of damage to our long term fiscal position,” Geithner said Tuesday during his testimony before the Senate Finance Committee. (0:17)
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Sen. Boxer: Bonuses From Bailed Out Banks Need To Be Taxed

Sen. Barbara Boxer (D-Calif.) says that bonuses given to executives who work for financial institutions bailed out by TARP funds should be taxed, regardless of whether or not the company paid back the borrowed funds. (0:20)
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Sen. Webb Wants Big Banks To Repay Taxpayers For TARP Funds, Not Dole Out Bonuses

Sen. Jim Webb( D-Va.) says that taxpayers should be repaid the money that they lent to big banks through the Troubled Asset Relief Program, instead of those companies giving out big bonuses. (0:08)
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Obama Says TARP Cost $200 Billion Less Than Expected

President Barack Obama says that under the guidance of his administration, the Troubled Asset Relief Program cost $200 billion less than initially expected. (0:28)
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Obama Says TARP "Indisputably" Prevented Collapse Of Financial System

President Barack Obama says that his administration would start to wind down the Troubled Asset Relief Program, but also says that TARP "indisputably" prevented the collapse of the financial system. (0:32)
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Sen. Bennett Accuses Geithner Of Misinterpreting TARP

Sen. Bob Bennett (R-Utah) brings up a conversation he had with Treasury Secretary Timothy Geithner where the Treasury Secretary says that he believes that once TARP funds are repaid they can be used again for similar purposes. Bennett says that this is a misrepresentation of the original intention of the controversial program. (0:36)
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Pay Czar Reveals How He Examines Compensation Contracts

Special Master for TARP Executive Compensation Kenneth Feinberg - referred to by some as the White House Pay Czar - talks about the first thing he does when he examines an executive compensation contract. (0:57)
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Extension Of TARP Program Uncertain Says Oversight Official

Chair of the Congressional Oversight Panel Elizabeth Warren, says she sees no plan on whether or not TARP will be extended one more year. (0:45)
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Frank Laments New Meaning Of TARP

Rep. Barney Frank (D-Mass.) says he longs for the "good ole days when I thought TARP is what you used to cover up the infield whenever it was raining." Frank made the remark during a discussion of financial regulatory reform at a National Press Club luncheon. (0:05)
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Treasury Obligated To Providing Ample Taxpayer Return, Says Official

“We feel a great obligation as responsible stewards of their money,” Assistant Treasury Secretary Herbert Allison Jr. says, adding that the Treasury is committing every effort to ensuring an ample return for taxpayers for their lending to TARP. (0:18)
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TARP Has Been Key To Stabilizing Financial System, Says Treasury Official

The Troubled Asset Relief Program (TARP) has been “key to stabilizing the financial system and preventing greater deterioration in the availability of credit,” says Assistant Treasury Secretary for Financial Stability Herbert Allison, Jr. Despite signs of economic recovery, "our financial system and our economy remain vulnerable...this is why Treasury must remain vigilant and press ahead in our economic stabilization efforts," he adds. (0:57)
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Kucinich Accuses Fed Of Instructing Banks To Not Loan To Small Businesses

Rep. Dennis Kucinich (D-Ohio) claims that the Federal Reserve has paid banks so that they will keep excess funds from being used as loans for small businesses. (1:00)
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