Word: bankses
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Still, the Treasury Secretary noted that there was more work to be done in restoring the health of our nation's banks. In particular, Geithner repeatedly stated the need for bank regulation reform. "We did a lot of damage to our nation's financial system, and it is going to...
For his part, Geithner responded that he thought the TARP program has largely been a success. "The nation's financial system is in better shape today than it was three months ago, six months ago and even on the eve of this recession," Geithner told the panel. He said adding...
Geithner testified that the Treasury Department has not decided how long it would maintain the TARP program. So far, Geithner said money that has been paid back by banks has gone toward paying down the Treasury's debt, but he reserved the right to reinvest the money in other banks...
Silvers said some of the people the panel had talked to complained that the continued weakness of a number of the nation's largest banks was hurting the economy. He asked Geithner if he thought "zombie" banks were a problem. Geithner noted specifically that he didn't think Citigroup was...
In one of the more unusual exchanges, Hensarling wanted to know if Geithner thought the auto companies were banks. Geithner said under the definitions of TARP, he would call auto manufactures banks. "So would you call AT&T and American Airlines banks?" Hensarling asked. Geithner said no, and then clarified...