Word: geithner
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Treasury Secretary Tim Geithner has a problem. On the one hand, he has to act to save the banks if he's going to start credit flowing and get the U.S. economy back on track. On the other hand, doing so makes him and his bosses look bad. Americans are against bailing out the banks by more than 2 to 1 in some polls. Worse, the banks themselves are deeply mistrustful of anything government might force on them. The head of Wells Fargo told Bloomberg on Monday that a key part of Geithner's plan, the so-called stress test...
...when Geithner rolls out more details of his plan later this week - this time on the tricky question of getting toxic assets off the banks' books - it will be a dangerous moment for him. Not only will the health of the banks and the economy depend on whether his new program is well received but Geithner's reputation will be on the line as well. Panned after he put out a vague framework on Feb. 10, the new Treasury Secretary has only so many chances to instill confidence. With the new bank plan, he's getting a second chance...
...champion of transparency in monetary policy, but he also recognizes that there are limits to what we know about the economic forecast and what that means to monetary policy." - then-New York Federal Reserve chief Tim Geithner, who now heads the U.S. Treasury Department. (BusinessWeek...
President Barack Obama took to the podium in the East Room to tag AIG by name, calling its financial predicament a product of "recklessness and greed." The President said he has asked Treasury Secretary Timothy Geithner to "block these bonuses and make the American taxpayers whole," adding, "This isn't just a matter of dollars and cents. It's about our fundamental values...
When Karl-Theodor zu Guttenberg jets into Washington this Sunday he plans on asking some tough questions. Germany's new Economy Minister is due to meet U.S. Treasury Secretary Timothy Geithner and bosses at embattled American carmaker General Motors. Opel, a Germany-based division of GM, is fast running out of cash and GM and Opel bosses recently went cap in hand to Berlin to ask for $4.25 billion in state aid. In return, GM say they will restructure Opel by cutting costs and loosening the company's ties with the parent company in Detroit. Opel would become an autonomous...