Geithner says bank bailout costs falling

Treasury Secretary Timothy Geithner told Congress on Tuesday that costs for the emergency bank bailout program launched during the 2007-2008 financial crisis continue to fall as the economy recovers.

In prepared testimony for delivery to the Congressional Oversight Panel that supervises the Troubled Asset Relief Program, Geithner said the program now was projected to raise federal deficits by $105 billion. That is $11.4 billion less than forecast in the government's 2011 budget.

(Reporting by Glenn Somerville; Editing by James Dalgleish)