Timothy Geithner made his first appearance before the panel Congress set up to oversee the financial bailout plan. He was on the defense from the get-go. The special inspector general released a report critical of the 700 billion dollar plan, saying it has become a three trillion dollar effort of "unprecedented scope, scale and complexity."

Panel member Rep. Jeb Hensarling tried to nail down regular appearances by the Treasury Secretary before the panel, a move Geithner was reluctant to make until his team can be confirmed and put in place.

While oversight of the program is critical, it's unclear to me the role of this panel and how it differs from the role of Congressional overseers. Less political? I'm not sure how a current Republican congressman, a former Republican senator, a state bank regulator, an academic and a labor union activist are divorced of politics. Independent? Maybe, but our elected leaders should be informed, independent thinkers.