You have my sympathy. I lost count of FRB credit facilities created since 14 Dec 2008 after No. 8. And since Mr Paulson's annoucement this week that Treasury will not "seek" release of the remaining $350B budgeted, I had looked forward to the remote possibility those funds would be applied by the next administration to "backstop" HH obligations.

Not anymore. For surely Mr Geithner, pres. of FRBNY, knows better than anyone in Congress which financial services firms require additional support of the full faith and credit of US treasuries. As far as I know, no other regional bank (of the TWELVE) serviced proto-TARP or TARP transactions.

17 Nov 2008 US Treasury Transaction Report, broad strokes, that is the First 30 and excluding private equity under management (funds) and industrial firms. NB The Bailout Bill doesn't require detailed (coded) reporting by the Treasury Sec and "Oversight Board" until Q2 2009.

Let us be clear. Mr Geithner will swear an oath the defend the US Constitution and execute fiduciary duties of public debt management. Is he qualified? Is this creature the best qualified to maximize "taxpayer" returns by lending to FRB reserve banks?

Diversity is the key to economic and political evolution.