FinancialStability.gov Finally Launches

FinancialStability.gov, the Web site set up by the White House in an effort, it says, to create transparency in the bailout process, has launched, after being promised for several weeks.

The site has a simple glossary of financial terms (though it does not take a swipe at explaining naked credit-default swaps), videos of Treasury Secretary Tim Geithner, extensive boilerplate explanations the various federal programs, such as the Capital Assistance Program, and an interactive map that shows you how much federal money has been given to banks in each state, the District and Puerto Rico.

Trivia: Banks in only two states -- Montana and Vermont -- have received no federal bailout money, owing to the lack of big banks in the lightly populated states. IBW Financial Corp. is the only D.C. entity to have received bailout money so far ($6 million), the map says.

The site also includes press releases and other official statements and reports aggregated from news organizations.

-- Frank Ahrens
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