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Keyword: bhotreasury

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  • Bad news: Paul Krugman won’t take Treasury job

    01/07/2013 10:04:35 AM PST · by SeekAndFind · 20 replies
    Hotair ^ | 01/07/2013 | Ed Morrissey
    Well, it's bad news for Danny Glover and MoveOn, anyway. They started a grassroots movement to get the New York Times columnist an appointment to Barack Obama's Cabinet in replacement of the departing Tim Geithner. MoveOn even sent a petition request to its large e-mail list, demanding a Paul Krugman nomination: Hollywood actor and liberal activist Danny Glover is trying to send a message to President Barack Obama: “Nominate Paul Krugman for Treasury Secretary.”Obama has yet to tap anyone to fill the slot, soon to be left vacant by outgoing Treasury Secretary Timothy Geithner. On Sunday the liberal advocacy group...
  • VIDEO: Geithner: "I Never Had A Real Job"

    04/25/2010 5:51:16 PM PDT · by ianschwartz · 48 replies · 1,621+ views
    RealClearPolitics ^ | April 25, 2010 | RealClearPolitics
    Treasury Secretary Tim Geithner on CNN.
  • Judicial Watch sues Treasury over TARP documents

    03/02/2010 3:09:55 PM PST · by pissant · 6 replies · 338+ views
    Wash Examiner ^ | 3/2/10 | Mark Tapscott
    Treasury Secretary Tim Geithner and his department have been sued by Judicial Watch as a result of the government's abject failure to abide by the law, specifically the Freedom of Information Act (FOIA), concerning the Toxic Assets Relief Program and Obama administration "pay czar" Kenneth Feinberg. Last November, Judidial Watch submitted an FOIA request multiple documents concerning meetings involving Feinberg, special master for executive compensation under TARP; AIG Chairman Robert Benmosche, and New York Federal Reserve Bank President William Dudley. As the Obama administration’s “pay czar,” Feinberg is responsible for setting compensation guidelines for the seven largest firms, including AIG,...
  • Obama's Ides-of-March Moment is Near

    02/23/2010 11:06:33 PM PST · by neverdem · 33 replies · 1,360+ views
    American Thinker ^ | February 24, 2010 | Monty Pelerin
    By the end of March, Barack Obama's administration will face its destiny, its Brutus a pawn of the fates. In Jimmy Carter's presidency, the Wall Street Journal editorialized about "Ratcheting to Ruin." The title derived from the fact that each cycle high in unemployment was higher than previous ones, and each cycle high in inflation was also. "Stagflation" was the neologism coined to describe what up until then was believed to be impossible in the Keynesian world. This period ushered in a new era in both politics and economics. Carter was replaced by Reagan, and Keynes was replaced by Friedman. Thirty...
  • What Does Senator Bunning Know, &, What Does The Just Disclosed Fed Whistleblower Know?

    01/27/2010 11:29:29 AM PST · by rxsid · 104 replies · 7,617+ views
    zerohedge ^ | 1/26/2010 | Tyler Durden
    What Does Senator Bunning Know, And, More Relevantly, What Does The Just Disclosed Fed Whistleblower Know? Tyler Durden on 01/26/2010 19:59 -0500 First, watch the below video. Note Senator Bunning's agreement with Zero Hedge on who the proposed head of the Fed should be (i.e., John Taylor). But that's irrelevant. What is - at 5:40 Bunning says that "Geithner will be fired by the President for his inability to handle his job as Secretary of the Treasury." True. What is even more relevant, and hints at a potential smoking gun, begins at 8:00 "[Bernanke's] staff did not agree with him...
  • Panel receives Timothy Geithner's call logs

    01/24/2010 7:56:36 PM PST · by GOP_Lady · 37 replies · 1,168+ views
    Politico.com ^ | 01-24-10 | JAKE SHERMAN & EAMON JAVERS
    The House Oversight and Government Reform committee this week received a list that will capture eyes from Wall Street to Washington. Timothy Geithner’s call log during the tightest grips of the financial crisis show the then-New York Federal Reserve Board chairman made calls calls to U.K. Prime Minister Gordon Brown, New York Mayor Michael Bloomberg, Obama transition adviser Lee Sachs and Warren Buffet. Goldman Sachs CEO Lloyd Blankfein, former Treasury Secretary Hank Paulson, JPMorgan Chase CEO Jamie Dimon, BlackRock CEO Larry Fink and former Lehman Bros. CEO Dick Fuld also spoke with Geithner. Fed Chairman Ben Bernanke got calls, as...
  • Obama vs. Geithner vs. Common Sense on TARP Tax Plan

    01/18/2010 4:35:03 AM PST · by Desperado67 · 10 replies · 530+ views
    Examiner.com ^ | 01/18/10 | Rob Binsrick
    President Barack Obama has proposed a new tax on large financial institutions as a method to fully recover all of the TARP funds which the federal government has doled out since late 2008. In announcing this proposed tax, Obama made the emphatic statement, “We want our money back and we’re going to get it.” The obvious absurdity, if not hypocrisy, of Obama’s statement and this new tax proposal is that most of the very companies targeted by the tax have already repaid all of their TARP funds. One big exception to that rule is AIG, which essentially has no chance...
  • U.S. Move to Cover Fannie, Freddie Losses Stirs Controversy (Nothing to see here, move along.)

    12/26/2009 7:36:16 AM PST · by Renkluaf · 2 replies · 585+ views
    The Wall Street Journal ^ | 12/26/09 | JAMES R. HAGERTY & JESSICA HOLZER
    The Obama administration's decision to cover an unlimited amount of losses at the mortgage-finance giants Fannie Mae and Freddie Mac over the next three years stirred controversy over the holiday. The Treasury announced Thursday it was removing the caps that limited the amount of available capital to the companies to $200 billion each. Unlimited access to bailout funds through 2012 was "necessary for preserving the continued strength and stability of the mortgage market," the Treasury said. Fannie and Freddie purchase or guarantee most U.S. home mortgages and have run up huge losses stemming from the worst wave of defaults since...
  • U.S. Move to Cover Fannie, Freddie Losses Stirs Controversy

    12/26/2009 6:48:21 AM PST · by FromLori · 26 replies · 1,027+ views
    WSJ ^ | 12/26/09 | JAMES R. HAGERTY and JESSICA HOLZER
    The Obama administration's decision to cover an unlimited amount of losses at the mortgage-finance giants Fannie Mae and Freddie Mac over the next three years stirred controversy over the holiday. The Treasury announced Thursday it was removing the caps that limited the amount of available capital to the companies to $200 billion each. Unlimited access to bailout funds through 2012 was "necessary for preserving the continued strength and stability of the mortgage market," the Treasury said. Fannie and Freddie purchase or guarantee most U.S. home mortgages and have run up huge losses stemming from the worst wave of defaults since...
  • Fannie / Freddie - What Does Treasury Know?

    12/25/2009 7:30:21 PM PST · by blam · 17 replies · 1,601+ views
    Seeking Alpha ^ | 12-25-2009 | Karl Denninger
    Fannie / Freddie - What Does Treasury Know? by: Karl DenningerDecember 25, 2009 On Christmas Eve one would think you could have a nice evening with your family. Little did I know what Timmy Geithner had up his sleeve: The two companies, the largest sources of mortgage financing in the U.S., are currently under government conservatorship and have caps of $200 billion each on backstop capital from the Treasury. Under the new agreement announced today, these limits can rise as needed to cover net worth losses through 2012. I see. But I thought housing was getting better? That's what I...
  • Jamie Dimon to Replace Geithner?

    11/23/2009 1:04:17 PM PST · by FromLori · 24 replies · 1,120+ views
    Economic Policy Journal ^ | 11/23/09 | Robert Wenzel
    I have said before, I think it will be pretty difficult to replace Geithner, but now we have President Obama's "favorite banker" being named as a possible replacement. NyPo reports As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration's handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement. Sources tell The Post that a number of policy makers have begun mentioning Dimon as a successor to Geithner, whose standing in Washington has suffered because of the country's high unemployment rate, the weakness of the dollar, the...
  • Blame game on Hill: Geithner in crossfire

    11/21/2009 3:51:45 AM PST · by Scanian · 28 replies · 1,344+ views
    NY Post ^ | November 20, 2009 | MARK DeCAMBRE
    What was expected to be a boring congressional hearing erupted into high drama yesterday as an unnerved Treasury Secretary Tim Geithner sparred with frustrated lawmakers calling for his head over his handling of the economy. Clearly rattled by a fusillade of attacks from Republican members of the Joint Economic Committee, the usually reserved Geithner lashed out, laying blame for the current economic mess at the feet of the GOP and rejecting suggestions that he resign. Republicans "gave this president an economy falling off the cliff," Geithner fired back at Rep. Kevin Brady (R-Texas), one of the Treasury secretary's harshest critics...
  • TARP Audit Finds Geithner Gave Away The Farm

    11/18/2009 3:40:48 PM PST · by opentalk · 9 replies · 755+ views
    cbsnews ^ | November 17, 2009 | Jill Schlesinger
    Special Inspector General for TARP (aka "SIG TARP") Neil Barofsky said something we've all known for a while: the government gave away the farm when AIG failed. If you recall, AIG's failure meant that the companies on the other side of all of its contracts (counterparties) were going to be left holding the bag. Under normal cases of bankruptcy, the court would impose haircuts to the amount of money due to counterparties, but because AIG didn't actually declare bankruptcy, the counterparties claimed that they were owed 100 cents of every dollar. The only bank that even considered taking a haircut...
  • Geithner is respnsible for the bonuses at AIG!

    10/14/2009 4:16:54 PM PDT · by kcvl · 32 replies · 1,559+ views
    Per: Peter Barnes of Fox News!
  • Bailout cop: Treasury fibbed to save economy

    10/05/2009 1:50:11 AM PDT · by South40 · 18 replies · 1,003+ views
    CNNMoney.com ^ | October 5, 2009 | Jennifer Liberto
    Barofsky, reviewing the first big bailouts to 9 firms, concludes that the government was too rosy to the public about the banks' health. WASHINGTON (CNNMoney.com) -- A government watchdog says federal officials weren't entirely honest with the public about the health of the first 9 financial firms that got federal bailouts, according to a report released Monday. Bailout special inspector general Neil Barofsky says in an audit that Treasury Department officials painted an overly rosy picture, creating "unrealistic expectations," when they called the first bailout banks "healthy" institutions that would be able to lend more with government help. "It is...
  • Geithner's Deadbeats

    09/15/2009 10:09:58 PM PDT · by bruinbirdman · 2 replies · 540+ views
    Forbes ^ | 9/10/2009 | Joshua Zumbrun
    The financial system and economy are coming back to life. So who's going to pay TARP back and who isn't? As the first anniversary of the government's $700 billion Troubled Asset Relief Program approaches, Treasury Secretary Timothy Geithner has a lot to be happy about. Thursday, facing the congressional panel charged with overseeing the TARP funds, Geithner reminded them that when he took office, the Treasury had given $240 billion to banks. Since then, $70 billion has come back as the healthiest banks have begun to repay taxpayers. He estimates banks will repay another $50 billion over the next 12...
  • Geithner Tells Town Hall: 'We Have to Change Things'

    09/10/2009 11:11:47 PM PDT · by Jet Jaguar · 35 replies · 2,402+ views
    CNBC ^ | Thursday, 10 Sep 2009 | By: Jeff Cox
    Treasury Secretary Timothy Geithner offered a spirited defense of the government's efforts to forestall another Great Depression but cautioned that the recovery would be slow and painful. "We understood how bad this was—how damaging this was—and we did things that people were incredibly critical of because we knew that this was getting away from us," Geithner told a special CNBC town hall meeting Thursday. In the wide-ranging session, which took place nearly a year to the day after the failure of Lehman Brothers and the implosion of the nation's financial system, Geithner said the country needs not only to fix...
  • Obama mortgage rescue: Only 9% getting help

    08/04/2009 9:26:01 AM PDT · by Kartographer · 4 replies · 317+ views
    CNNMoney.com ^ | 8/4/09 | Tami Luhby
    The Obama administration's first progress report on its foreclosure prevention plan confirms it is off to a slow start. Just 9% of delinquent borrowers in trial modifications so far, the Treasury Department said Tuesday. That translates into 235,247 loans that were at least two months delinquent. Under fire for the program's rocky start, the Obama administration says it is on pace to help up to four million homeowners over the next three years. The initiative was announced in February and the first institutions to join began accepting applications in April.
  • Geithner Won’t Rule Out New Taxes for Middle Class

    08/02/2009 11:23:04 AM PDT · by Las Vegas Ron · 16 replies · 742+ views
    ABX News ^ | August 02, 2009
    To get the economy back on track, will President Barack Obama have to break his pledge not to raise taxes on 95 percent of Americans? In a “This Week” exclusive, Treasury Secretary Tim Geithner told me, "We’re going to have to do what’s necessary.” Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it. “We have to bring these deficits down very dramatically,” Geithner told me. “And that’s going to require some very hard choices.”
  • Geithner Won't Rule Out New Taxes for Middle Class (by ABC's G. Stephanopoulos)

    08/02/2009 9:33:46 AM PDT · by SmartInsight · 91 replies · 5,443+ views
    ABC News ^ | August 2, 2009 | George Stephanopoulos
    To get the economy back on track, will President Barack Obama have to break his pledge not to raise taxes on 95 percent of Americans? In a "This Week" exclusive, Treasury Secretary Tim Geithner told me, "We're going to have to do what’s necessary." Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn't do it. "We have to bring these deficits down very dramatically," Geithner told me. "And that's going to require some very hard choices."
  • Senate Confirms Rios As U.S. Treasurer

    07/29/2009 11:11:23 AM PDT · by markomalley · 7 replies · 435+ views
    WTVO ^ | 7/29/2009
    (San Francisco, CA) -- The United States Senate has confirmed Rosa "Rosie" Gumataotao Rios to be the next U.S. treasurer. Rios is a Harvard University graduate from California who has held economic development positions with Oakland and other cities in California's Bay Area. She was confirmed to the post on Monday. As treasurer, Rios will work with Treasury Secretary Timothy Geithner. She will also oversee the U.S. Mint, the Bureau of Engraving and Printing and the Savings Bond Marketing Office. Rios is expected to be officially sworn in next month.
  • Geithner to Reassure Gulf Allies on Dollar Assets

    07/13/2009 11:41:49 AM PDT · by FromLori · 10 replies · 295+ views
    NYT ^ | 7/13/09
    RIYADH/LONDON (Reuters) - Treasury Secretary Timothy Geithner will seek to reassure Gulf Arab states this week that U.S. dollar assets they hold in large quantities remain a strong investment. A recent decline in Saudi foreign assets shows the purchase of U.S. treasuries by Washington's Gulf allies, five having currencies pegged to the dollar, at levels seen in the past decades should no longer be taken for granted. Geithner, offering assurances on the United States' ability to pull out of recession, is combining a visit to Saudi Arabia and the United Arab Emirates, the Arab world's largest and second-largest economies, with...
  • Administration Considers Bailout Funds for Small Businesses [Too small to fail?]

    07/10/2009 2:21:58 PM PDT · by Constitutionalist Conservative · 47 replies · 2,663+ views
    WaPo ^ | July 10, 2009 | David Cho
    The Obama administration is developing an initiative to take money from the $700 billion program for the banking system and make it available to millions of small businesses, which officials say are essential to any economic recovery because they employ so many people, according to sources familiar with the plan. The new effort -- which would represent a striking shift from the rescue program's original mandate -- would direct billions of bailout dollars toward a program that aims more at saving jobs than righting the financial system. A proposal being floated by senior Treasury Department officials calls for using the...
  • Geithner says derivatives blindsided the gov't

    07/10/2009 10:11:59 AM PDT · by NormsRevenge · 65 replies · 1,895+ views
    AP on Yahoo ^ | 7/10/09 | Anne Flaherty - ap
    WASHINGTON – The huge amount of money tied up in complex derivative transactions helped cripple the economy, Treasury Secretary Timothy Geithner told lawmakers Friday as he laid out a case for greater government control over a generally unregulated sector of the financial markets. "Establishing a comprehensive framework of oversight is crucial," Geithner said .. Despite apprehension among Republicans, the effort to add government restrictions to these more freewheeling financial instruments has gained support within the Democratic-controlled Congress. "Clearly, we're going to be significantly expanding regulation of derivatives," said Rep. Barney Frank, ..
  • Caption This Pic Of Tim Geithner

    07/06/2009 9:56:08 AM PDT · by Ambient · 60 replies · 3,238+ views
  • Money flowing back goes to slush fund (TARP)

    07/02/2009 8:15:11 AM PDT · by La Lydia · 9 replies · 542+ views
    Washington Times ^ | July 2, 2009 | Nick Rizzuto
    June 9 President Obama called a press conference where he announced, "Several financial institutions are set to pay back $68 billion to taxpayers..." Treasury Secretary Timothy F. Geithner has announced the department will use returned funds to provide aid and loans to small banks...Congressional Democrats have run to defend the practice of TARP fund recycling, and even encourage it... This is not only an unethical use of taxpayer money; it is also a violation of the legislation that allowed the Treasury the ability to lend it in the first place. The TARP law states, "Revenues of, and proceeds from the...
  • Plan Unveiled For Protection of Consumers

    06/30/2009 6:05:58 PM PDT · by GOP_Lady · 25 replies · 797+ views
    The Wall Street Journal ^ | 07-01-09 | MICHAEL R. CRITTENDEN and JANE J. KIM
    WASHINGTON -- The Obama administration's proposed consumer-protection agency would have broad oversight for a range of products, beefing up the government's regulation of credit cards, mortgages and gift cards, as well as expanding its authority over financial firms. Draft legislation unveiled Tuesday by the Treasury Department would for the first time make a single entity, the Consumer Financial Protection Agency, responsible for writing and enforcing rules across a range of financial products used by consumers. "This agency will have only one mission -- to protect consumers," Treasury Secretary Timothy Geithner said.
  • U.S. to soon launch bank toxic asset plan: Treasury

    06/24/2009 1:48:38 PM PDT · by Kartographer · 9 replies · 456+ views
    Reuters/YahooNews ^ | 6/24/09 | Karey Wutkowski and Glenn Somerville
    The U.S. government will "very soon" launch its program to use federal funds and private capital to buy banks' toxic assets, the new overseer of the government's $700-billion bank bailout fund said on Tuesday.
  • Executive Branch Corruption?

    06/21/2009 8:43:54 AM PDT · by FromLori · 23 replies · 1,097+ views
    The Market Ticker ^ | 6/20/09 | Karl Denninger
    Corruption is a strong word, but it appears warranted given the two stories of import this weekend. First, on the firing of inspectors general: WASHINGTON - -- He was appointed with fanfare as the public watchdog over the government's multi-billion dollar bailout of the nation's financial system. But now Neil Barofsky is embroiled in a dispute with the Obama administration that delayed one recent inquiry and sparked questions about his ability to freely investigate. Treasury, you see, is refusing to turn over documents - items that Barofsky believes he needs to do his job properly. Mr. Barofsky's job is, for...
  • Former Fannie Mae head to take over bank bailout

    06/19/2009 5:38:01 PM PDT · by Free ThinkerNY · 16 replies · 512+ views
    Associated Press ^ | June 19, 2009 | ANNE FLAHERTY
    WASHINGTON (AP) - Herbert Allison, the former head of troubled mortgage giant Fannie Mae, has been confirmed to oversee the government's $700 billion bank bailout program. The Senate voted Friday to confirm Allison as the Treasury Department's assistant secretary for financial stability. In that role, Allison will oversee the Troubled Asset Relief Program, which was established last fall to inject capital into banks hit hard from the mortgage crisis. "Herb Allison has extraordinary experience strengthening American financial institutions and has demonstrated great leadership in recent months at Fannie Mae," Treasury Secretary Timothy Geithner said in a statement Friday.
  • United States, Switzerland Agree to Increased Tax Information Exchange

    06/19/2009 9:03:58 AM PDT · by b4its2late · 1 replies · 276+ views
    Treasury ^ | 6/19/2009 | Treasury
    WASHINGTON--As part of the Obama Administration's aggressive efforts to enforce U.S. tax laws and reduce offshore tax evasion, the U.S. Department of the Treasury today announced the conclusion of negotiations with Switzerland to amend the U.S.-Switzerland income tax treaty to provide for increased tax information exchange. Official signing of the protocol is expected in the next few months. "This Administration is committed to reducing off shore tax evasion to help ensure that all U.S. taxpayers are playing by the same rules," said Treasury Secretary Tim Geithner. "This treaty will increase our ability to enforce our tax laws and will help...
  • Treasury to Auction $104 Billion In Debt Next Week, a Record

    06/18/2009 1:24:27 PM PDT · by GVnana · 22 replies · 1,194+ views
    Reuters via CNBC ^ | 6/18/2009
    Treasury to Auction $104 Billion In Debt Next Week, a Record The Treasury announced Thursday a record $104 billion worth of bond auctions for next week, part of its herculean efforts to finance a rescue of the world's largest economy. The sales will exceed the previous record of $101 billion set in auctions that took place in the last week of April and consist of two-year, five-year and seven-year securities. That record was matched by another $101 billion week in May. Though next week's total was broadly in line with expectations, worries about supply have weighed on the U.S. government...
  • Geithner: No caps on pay for corporate executives

    06/10/2009 11:46:07 AM PDT · by Red in Blue PA · 5 replies · 347+ views
    Yahoo ^ | 6/10/2009 | Staff
    WASHINGTON (AP) -- Treasury Secretary Timothy Geithner says the Obama administration doesn't want to place caps on executives' pay -- even though it believes excessive compensation led to risk-taking that contributed to the financial crisis. Geithner said the administration will seek legislation that will permit shareholders to vote on executive pay packages, but the results would not be binding on boards of directors. The administration will still restrict compensation at companies that are receiving taxpayer assistance through its $700 billion financial bailout program.
  • Tim Geithner Asks For A Bigger Treasury Budget

    06/09/2009 8:42:19 PM PDT · by FromLori · 7 replies · 297+ views
    Here's the highlight on financial regulation: "In the next few weeks, we will outline a comprehensive plan of reform that will include systemic risk regulations to ensure that no large and interconnected firm or market can take on so much risk that its failure could destabilize the entire financial system. The plan calls for bolstering consumer and investor protections. And it will streamline our out-of-date regulatory structure so that our regulatory system matches the size, shape and speed of our modern financial system. Together, these changes will help prevent another crisis of the magnitude that we have just lived through."...
  • Geithner Goes Begging in China; What It Means to You …

    06/07/2009 8:02:58 AM PDT · by FromLori · 6 replies · 467+ views
    Washington Happy Talk vs. Reality on the Ground in China Before, during, and after Geithner’s China trip, the Washington spin machine was shifting into overdrive. I’ve already seen a few reports calling Geithner’s trip a success. Geithner himself has been making statements like the following: “I’ve actually found a lot of confidence here in China, justifiable confidence, in the strength and resilience and dynamism of the American economy and I think a very sophisticated understanding … of the steps we’re taking and why they’re so important not just to the United States but to China and the rest of the...
  • US pushing for shake-up at Citigroup....(Obama's Treasury Department its largest shareholder)

    06/05/2009 8:08:33 AM PDT · by IrishMike · 10 replies · 1,038+ views
    The Federal Deposit Insurance Corp. is reportedly pressing for a management shake-up at embattled bank Citigroup Inc., putting CEO Vikram Pandit in the hot seat. The Wall Street Journal cited people familiar with the matter for its report on Friday. "We are confident in our management and confident that we will continue to position Citi ( C - news - people ) for a return to sustained profitability," Chairman Richard Parsons said in a statement e-mailed to The Associated Press. A spokesman for the FDIC declined to comment. Citigroup shares slipped a penny to $3.56 in morning trading Friday. Citigroup...
  • VID: Santelli: Geithner Is "Lying To The American Public"

    06/02/2009 10:52:21 AM PDT · by politicalhub · 26 replies · 1,693+ views
    Real Clear Politics ^ | 06/02/2009 | Real Clear Politics
    CNBC's Rick Santelli says Geithner was lying when he told the Chinese there is no risk of monetizing debt in the United States.
  • Why Obama was so insistent on tax-cheat Geithner

    06/01/2009 3:05:53 PM PDT · by starlight · 20 replies · 1,652+ views
    chinadaily ^ | chinadaily
    ...Geithner ... most of his childhood living outside the United States, including present-day Zimbabwe, Zambia, India and Thailand where he completed high school at International School Bangkok. He attended Camp Becket-in-the-Berkshires-for-boys, a summer camp located in western Massachusetts. He then attended Dartmouth College, graduating with a B.A. in government and Asian studies in 1983. He earned an M.A. in international economics and East Asian studies from Johns Hopkins University's School of Advanced International Studies in 1985. He has studied Chinese and Japanese. ...grandfather, Paul Herman Geithner (1902–1972), emigrated with his parents from Zeulenroda, Germany to Philadelphia, Pennsylvania in 1908. His...
  • Geithner says crisis threatens work on poverty

    04/26/2009 9:44:43 AM PDT · by maggief · 21 replies · 653+ views
    AP via Yahoo ^ | April 26, 2009 | HARRY DUNPHY
    WASHINGTON – The global economic crisis threatens to reverse gains in fighting poverty, so banks that provide aid to poor nations must embrace changes in their operations, Treasury Secretary Timothy Geithner said Sunday. Those development banks are at the forefront of efforts to eradicate poverty and promote sustainable growth, he said the World Bank's policy-setting board. "We cannot afford to lose time or lose ground," Geithner said. At the same time, he said it was important for the banks to conduct their aid business in the open. They must face reviews to ensure they have enough money and are promoting...
  • Treasury Gives Nearly $30B More to AIG Rescue Plan

    04/21/2009 8:07:07 PM PDT · by Frogtacos · 6 replies · 443+ views
    WASHINGTON -- The government has completed the transaction providing nearly $30 billion more in support to American International Group Inc., minus $165 million in controversial bonus payments. The Treasury Department also says it added Bank of America Corp. and Countrywide Home Loans Servicing to its mortgage relief program. That means a total of nine companies are participating in the $75 billion effort. The department also approved the applications for six more banks to participate in the $700 billion financial rescue program, bringing the total number of banks being helped to 553.
  • A Backdoor Nationalization: The latest Treasury brainstorm will retard a banking recovery.

    04/21/2009 2:52:15 AM PDT · by Scanian · 2 replies · 515+ views
    The Wall Street Journal ^ | April 21, 2009 | Editorial
    Just when you think the political class may have learned something in months of trying to fix the banking system, the ghost of Hank Paulson returns to haunt the Treasury. The latest Beltway blunder -- and it would be a big one -- is the Obama Administration's weekend news leak that it may insist on converting its preferred shares in some of the nation's largest banks into common equity. The stock market promptly tumbled by more than 3.5% yesterday, with J.P. Morgan falling 10% and financial stocks as a group off 9%, as measured by the NYSE Financials index. Note...
  • Geithner Refrains From Labeling China a Manipulator

    U.S. Treasury Secretary Timothy Geithner refrained from labeling China as a currency manipulator, backtracking from an assertion he made during his confirmation hearings in January. In its first semiannual report on foreign-exchange policies since Geithner became secretary, the Treasury said that while the yuan remains “undervalued,” no country “met the standards” for illegal currency manipulation during the period of the report, from July 2008 through December 2008. The conclusion clashes with Geithner’s January 22 statement to a Senate panel that “President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its...
  • White House Blocks TEA Party at Treasury

    04/15/2009 6:40:58 AM PDT · by pabianice · 169 replies · 11,885+ views
    Fox News Live | 4/15/09
    Live now on Fox -- White House is blocking TEA Party set for the Treasury in DC,. despite the demonstration already having been granted a permit. Second TEA Party at Lafayette Park to proceed, but White House blocked the unloading of 1M tea bags. This comes upon the DHS report warning that such demonstrations are "hate groups" that must be monitored closely as such demonstrators are "prone to owning guns and being violent."
  • China Slashes New Purchases of US Debt

    04/13/2009 8:48:38 PM PDT · by Scanian · 13 replies · 1,029+ views
    The American Thinker Blog ^ | April 13, 2009 | Tom Suhadolnik
    On March 24, 2009, the government controlled Chinese People's Daily reported China planed to continue to purchase US debt. China will continue investing in U.S. government bonds while paying close attention to possible fluctuations in the value of those assets, said a deputy governor of China's central bank here Monday. This statement was made a week before the recent G20 conference in London. Apparently it was meant to take questions of Chinese continued support of US deficit spending off the table. It also undoubtedly helped strengthen the dollar. This past weekend China's central bank made a stunning reversal. According to...
  • TREASURY TELLS GM TO PREP FOR POSSIBLE BANKRUPTCY... DEVELOPING...

    04/12/2009 5:33:13 PM PDT · by kcvl · 72 replies · 2,451+ views
    Per Drudge: TREASURY TELLS GM TO PREP FOR POSSIBLE BANKRUPTCY... DEVELOPING...
  • Is Geithner a Financial Genius? (No, Seriously)

    04/12/2009 1:59:27 AM PDT · by Scanian · 30 replies · 1,000+ views
    The American Thinker ^ | April 12, 2009 | Joseph Ashby
    Not long ago the press and politicians alike were singing the praises of the eminently qualified, uniquely equipped Treasury Secretary. His genius and experience would navigate America's economy through financial turmoil and guide us to prosperity again. Of course, that Treasury head was Henry Paulson. These days we may think of him as the squanderer of the first $350 billion in bailout funds, but Paulson was to be America's economic savior. On September 20, 2008 Newsweek declared: In many ways, Paulson was the ideal person to deal with this mess. A 32-year veteran of Goldman, he helped take the venerable...
  • Obama's Approval Is Not Transferring to Geithner

    03/30/2009 1:54:45 PM PDT · by RobinMasters · 11 replies · 505+ views
    NRO ^ | MARCH 30, 2009 | Jim Geraghty
    Gallup finds that Treasury Secretary Tim Geithner's approval rating is 42 percent, disapproval is 40 percent, with 18 percent undecided. Interestingly, Obama's budget is only at 39 percent approval, 27 percent disapproval, and 33 percent saying they don't know enough to say.
  • Geithner Says Some Banks to Need 'Large Amounts' of Aid...

    03/29/2009 4:50:56 PM PDT · by kcvl · 17 replies · 668+ views
    Per Drudge... http://www.bloomberg.com/apps/news?pid=20601087&sid=akWSzaWK6SGI&refer=worldwide
  • Geithner: Government is the Answer to Solve Financial Crisis

    03/29/2009 1:33:28 PM PDT · by lowbridge · 32 replies · 1,136+ views
    Fox News/AP ^ | March 29, 2009
    Treasury Secretary Timothy Geithner defended his approach to fixing the country's economic mess Sunday, saying "the market will not solve this" while disclosing a bailout fund for battered banks has $135 billion left and might need more. Geithner used his first Sunday talk show appearances to promote President Barack Obama's massive government spending plan to ease credit, help borrowers and inject billions of dollars into the financial sector. Long kept behind the scenes, the treasury secretary has emerged as the administration's champion of a plan that fueled an uptick in Wall Street markets. "We came through a period where people...
  • Geithner: Risk if government does too little

    03/29/2009 11:02:47 AM PDT · by Free ThinkerNY · 11 replies · 516+ views
    Associated Press ^ | March 29, 2009
    WASHINGTON (AP) -- The banking crisis. The credit crisis. The recession. The auto bailout. The bonus furor. Treasury Secretary Timothy Geithner has had to deal with so many hot button issues in little more than two months since joining President Barack Obama's Cabinet. So what's the most important thing he has learned in trying to fix the economy?