Ahead of the Troubled Asset Relief Program's first anniversary, Treasury Department officials on Thursday started a campaign to declare victory over the financial crisis, arguing that government intervention in the financial sector had saved the economy.

At a hearing before the Tarp Congressional Oversight Panel, Treasury Secretary Timothy Geithner said a raft of programs begun since the government bailout effort was introduced in October have stabilized the financial system and that winding down those programs will start soon. "Today I believe, because of comprehensive policy actions put in place since then, we are back from the edge of the abyss," Geithner said.

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