Word: geithner
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Last spring when he had just started as Treasury Secretary, Tim Geithner came across as timid, uncertain and a little small in front of the TV cameras and on Capitol Hill. Flash forward to his appearance Thursday morning before the House Financial Services Committee and Geithner was hardly recognizable: he interrupted the members, rolled his eyes, shot questions back, spoke over them and even ignored the chairman himself as he pounded the gavel...
...What's got into Geithner? The short answer: a deadline. With their energy bill stalled, health care dragging out and other initiatives pushed aside, financial reform is a high priority for an Administration in search of wins. Geithner's bosses at the White House are pushing to get a bill to the President for his signature by the end of the year, and Geithner is the point man in making that happen. (See 25 people to blame for the financial crisis...
...been busy. On Wednesday, Geithner and White House chief of staff Rahm Emanuel met with House Democrats on the Financial Services Committee, pushing them to accept the deal Geithner had negotiated with committee chairman Barney Frank, which includes new powers for regulators and the Federal Reserve to limit risk among the nation's biggest financial institutions, and to dissolve those institutions in an orderly way if they fail. At the same time, the Senate is moving ahead with its own bill, with talk of a markup in Connecticut Senator Chris Dodd's Banking Committee before Thanksgiving. Treasury has even held...
...Geithner has been working Wall Street too. In the middle of last week he met with a group of top bankers, including Jamie Dimon of JPMorgan, Lloyd Blankfein of Goldman Sachs and others, and told them that while they were welcome to fight his efforts, the political environment was on his side. "In the long run we all need to restore trust in the system," Geithner told the bankers, according to a top aide familiar with the conversation, "People want to see that something's being done." (Read TIME's cover story, "What's Still Wrong with Wall Street...
...Geithner has also branched out in Washington, holding regular meetings with top think tankers, academics, journalists and political figures...