Word: geithner
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...when news broke late last week that two top nominees for the Treasury Department were withdrawing their names from consideration for undisclosed personal reasons, what ordinarily might have been dismissed as a harmless staffing snafu became the latest cause for unease among those watching Treasury Secretary Timothy Geithner. Geithner - who at 47 still looks like the Doogie Howser of economists - has had difficulty filling out his roster of lieutenants; he wasn't helped when Paul Volcker, the old lion who got the U.S. out of its last deep recession, described Treasury's staffing woes as "shameful." (See TIME...
...people in place, but these confirmations take time," admits a senior official. Part of the problem may be that Obama has instituted tougher standards for hiring than previous Administrations had. At some agencies, former lobbyists have had to withdraw from contention because of tougher rules on influence peddlers. But Geithner contributed to the problem himself: after it was discovered that he owed $34,000 in taxes, administration vetters cracked down on any sign of improper tax-filing...
...White House unveiled three assistant secretaries for the Senate's consideration, and a new slate that includes replacements for Annette Nazareth and Caroline Atkinson, who withdrew their names for deputy secretary and undersecretary for international affairs, respectively, is apparently on its way. Meanwhile, Treasury officials correctly point out that Geithner is filling out top slots faster than previous Democratic and Republican Administrations...
...model for nationalizations could prove valuable in the months ahead. The government is in the process of stress-testing the nation's largest banks as part of Treasury Secretary Timothy Geithner's plan to fix the ailing banking sector. And many think the outcome of those tests could lead to more takeovers. So far, Geithner and other officials have denied they are interested in running banks. But in the past few weeks, a number of prominent Republicans and fiscal conservatives, most notably former Federal Reserve chairman Alan Greenspan and Senator Lindsey Graham, have joined those who think the government should...
...Treasury Secretary Timothy Geithner warned this week that the U.S. recession is deepening and Japan's Prime Minister Taro Aso said there is "no bottom in sight" for his sinking country, many investors turned to China for a measure of hope. There have been glimmers of stability recently in the world's third-largest economy, and Asian stock markets briefly climbed midweek amid reports that Beijing would announce additional stimulus measures on top of the $586 billion it has already said it will spend to revive its slowing economy...