The Treasury Department has opened its ballyhooed Web site that will allow ordinary citizens to keep an eye on efforts to stabilize the financial system.

The new site, FinancialStability.gov, is joining another recent site, Recovery.gov, in an effort to make good on the Obama administration’s promises of transparency as the president tries to deal with the economic crisis (see Geithner Outlines Financial Stability Plan).

The site includes information on the design of the administration’s Financial Stability Plan and its impact on opening up lending to consumers and businesses. Features include an interactive map illustrating state-by-state bank and financial institution funding. A “decoder” tool translates frequently used financial language and Financial Stability Plan program names into plain English.

Simplified economic data is aimed at helping users better understand and monitor the economic environment and learn more about the impact of the administration’s efforts. A search function is available for various Financial Stability Plan program participants and contracts awarded under the program, enabling users to become armchair government watchdogs.

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