Geithner: TARP Extension to Help Mitigate Foreclosures, Stabilize Housing
ByPosted To: MND NewsWire
Below are a few housing/mortgage market related comments made by the Secretary of the Treasury, Tim Geithner, before the Congressional Oversight Panel this morning…. GEITHNER ON THE EXTENSION OF TARP AND MITIGATING FORECLOSURES "I notified Congress that I extended the temporary authority provided to me under EESA to October 3, 2010. Even with this extension, we expect that TARP will cost taxpayers at least $200 billion less than was projected in the August Mid-Session Review of the President's Budget, including $25 billion in potential costs from TARP commitments in 2010. We expect that the vast majority of these potential costs would come from mitigating foreclosure for responsible American homeowners as we take the steps necessary to stabilize our housing market. GEITHNER ON CURRENT…(read more)