Word: geithners
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...literally line by line," says a senior Treasury department official. Shelby and the Senate Banking chair, Democrat Chris Dodd, have also been working together closely. "[Shelby's] folks are deeply engaged and we share the view that he wants to get something done," says the senior Treasury official. (Read "Geithner's Toxic-Asset Plan: Wall Street Finally Cheers...
...November 1994, helping the GOP cement its hold on the Senate at a crucial moment. He has had a near perfect record of conservatism on social and foreign-policy issues since then. The tall, drawling former prosecutor questioned Obama's citizenship this past February, and when Treasury Secretary Tim Geithner first unveiled the Administration's sweeping plan to reform the financial system in June, Shelby said of its goal to expand the Federal Reserve's regulatory power, "I personally believe this represents a grossly inflated view of the Fed's expertise...
...Silvers said some of the people the panel had talked to complained that the continued weakness of a number of the nation's largest banks was hurting the economy. He asked Geithner if he thought "zombie" banks were a problem. Geithner noted specifically that he didn't think Citigroup was a "zombie." He added that the fact that many of the banks have been able to raise private capital shows that TARP has improved their prospects...
...more unusual exchanges, Hensarling wanted to know if Geithner thought the auto companies were banks. Geithner said under the definitions of TARP, he would call auto manufactures banks. "So would you call AT&T and American Airlines banks?" Hensarling asked. Geithner said no, and then clarified that at least at this moment he would not call AT&T or American Airlines banks. When asked about AIG, Geithner said the government didn't legally have the option to pay less than 100 cents on the dollar to its counterparties. In the past year, many people have criticized Geithner and former secretary...
...Geithner responded that he didn't think that was a failing of TARP. Instead, he said the fact that some banks continue to grow underscored the need for financial regulation reform, especially the need to give regulators the power to wind down large financial institutions...