Geithner touts progress in repairing financial system

As the first anniversary of the Troubled Asset Relief Program nears, Treasury Secretary Timothy Geithner told the Congressional Oversight Panel that government rescue efforts have stabilized the financial system. "Today, I believe, because of comprehensive policy actions put in place since then, we are back from the edge of the abyss," Geithner said. He said it is time to start unwinding most of those programs. Efforts to bolster loan modification and a small-business lending program will continue.

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