Word: geithners
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Dates: during 2000-2009
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...Obama has made some attempts to play hardball with Wall Street, however. Last summer, JPMorgan tried to lowball the Administration on warrants it wanted to buy back from the government. JPMorgan's chief, Jamie Dimon, called Treasury Secretary Timothy Geithner in July personally to pressure him to sell at the low price. Geithner held out and auctioned the warrants off last week for tens of millions more than Dimon had offered, sources familiar with the negotiations tell TIME...
...Obama and Geithner have a long list of penalties they can impose if the banks don't do a better job of lending to small businesses or modifying home loans. And Obama's pay czar, Kenneth Feinberg, could target the bank's bonuses with what the senior bank executive calls a "crazy" pay restriction like the one Britain passed last week. But the banks are expert at staying just on the right side of the Administration's guidelines for lending, and they have many friends on the Hill who can help defuse a movement to punish the banks. Which...
...received more than $50 billion in federal aid, only about $6.2 billion will be repaid in cash; the U.S. Treasury agreed to take stock in lieu of cash for much of the remainder, which gave the government a 60.8% stake in the new GM. Earlier this week, Treasury Secretary Geithner told a congressional committee that he did not expect to be fully repaid on TARP loans made to three companies: AIG, Chrysler and GM. (See the worst business deals...
Lauding Treasury Secretary Timothy Geithner's efforts in the New York Times...
...evidence of the past eight months suggests that Geithner was mostly right and his critics were mostly wrong. The financial sector is in much better shape than it was then. TARP money is being repaid, and the debate now is what to do with the billions that were never needed... Geithner's path was a middling one, but it helped the country muddle toward recovery...