Word: geithners
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...government meddling in the markets. Though he denounces the bailout of Detroit carmakers, Romney is a backer of TARP, though he couches his position with a caveat that protects his right flank. "Secretary Paulson's TARP prevented a systemic collapse of the national financial system," he writes. "Secretary Geithner's TARP became an opaque, heavy-handed, expensive slush fund. It should be shut down." (See a stimulus report card...
...legislation, while not perfect, at least required U.S. authorities to abide by several European demands on data protection and improved oversight. Yet despite their pressure - and last-minute pleas by such high-ranking U.S. officials as Vice President Joe Biden, Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner - the European Parliament voted down the measure on Feb. 11 by a hefty margin of 378-196. After the vote, the Obama Administration called it "a setback for U.S.-E.U. counter-terror cooperation." (See who's who in Barack Obama's White House...
With recently subpoenaed e-mails indicating that the New York Federal Reserve had sought to conceal details of the controversial $182 billion bailout of troubled insurance giant AIG, U.S. Treasury Secretary Timothy Geithner--head of the New York Fed when the e-mails were sent--was called to testify Jan. 27 on Capitol Hill, along with his Treasury predecessor Henry Paulson. At issue: the use of taxpayer money to cover AIG's debts to Goldman Sachs, Morgan Stanley and other Wall Street firms. Both men defended the "backdoor bailout" and denied any involvement in the alleged attempt to hide...
...fact, while Volcker did have some policy disagreements with Geithner and National Economic Council chairman Larry Summers - who were not eager to dismantle large banks and did not see how proprietary trading contributed to the crisis - those ideas had support from White House economists like Christina Romer and Austan Goolsbee of the Council of Economic Advisers and Jared Bernstein in Vice President Joe Biden's office. Volcker was never really persona non grata; he's friendly with Biden, and Goolsbee says Volcker spoke "extensively and repeatedly" with all the key players - including Obama. Still, White House officials were increasingly frustrated...
...late December, Obama's entire economic team agreed to support the rule, along with limits on the size and scope of banks that go beyond the amendment Kanjorski drew up. Geithner would have preferred to limit risk-taking through tougher rules on leverage and capital - and he's still planning a push on that front - but in an election year, it was easy to see the value of having Volcker inside the tent. "The narrative is changing," Warren says. "In 2010, Congress will have a basic choice between taking the side of banks and taking the side of families...