Word: geithner
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...Democrat and has often leaned toward the left edge of the centrist economic consensus that has driven our recent financial history. "His solutions tend to be government-led, progressive structuring of the market for what he perceives as the greater social good," explains the new Treasury Secretary, Timothy Geithner, who was an Under Secretary for Summers during the Clinton Administration. "But he is also a firm believer in letting market forces lead...
...Geithner's Tax Code...
...Timothy Geithner, you're on your own. If Geithner, who was confirmed as Treasury Secretary late Monday, plans on waiting until a consensus forms on what to do with the second half of the $700 billion bank rescue fund approved by Congress in early October, he may be waiting awhile. Economists, Wall Streeters and industry analysts are split on how best to spend what remains in the Troubled Asset Relief Program (TARP), which has done anything but offer relief...
What's clear is that Geithner, unlike his predecessor Henry Paulson, does not face a growing chorus of voices calling for a particular plan. Initially, Paulson was reportedly in favor of spending TARP money to buy up troubled assets. But shortly after the bank rescue fund passed Congress, a flood of economists came out against Paulson's plan. Instead, most policy experts advocated a plan to inject capital into the banks by buying preferred shares. The latter strategy would be quicker to implement and would do a better job of stimulating lending. Britain was instituting a similar plan...
...trade conflict with China, Geithner knows, doesn't fit anywhere in that prescription...