Word: geithners
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...rescued the insurer. At the center of the hearing, which was held by the House Committee on Oversight and Government Reform, were the payments that AIG made to banks that bought credit-default-swap (CDS) bond insurance from the firm. Members of the panel grilled Treasury Secretary Timothy Geithner, head of the Federal Reserve Bank of New York in late 2008, as to why he allowed AIG to pay the banks the starting value of the CDS contracts when the bonds had fallen significantly in price. Other mortgage-bond insurers at the time were able to strike deals to tear...
...focus also reveals a power shift inside the Administration, a smackdown of Treasury Secretary Timothy Geithner, White House aide Lawrence Summers and other centrists who consider populism a dirty word, and have been accused (often unfairly) of being too close to Wall Street. Former Federal Reserve Chairman Paul Volcker, the head of Obama's Economic Recovery Advisory Board, has spent the past year getting frozen out of the White House while blasting Wall Street as a glorified casino; yesterday, he stood next to Obama as the President described the proposed ban on proprietary trading by commercial banks as "the Volcker...
Really, though, this shift is more about politics than substantive differences in policy. Geithner strongly supports a stand-alone consumer agency, and he devised the plan to impose taxes on liabilities of the biggest banks, not only to recoup the bailout money but to discourage excessive risk-taking and excessive size. He just happens to be allergic to populism, and Obama political adviser David Axelrod wants to strike a much more populist are-you-with-us-or-the-banks tone in 2010. Axelrod and Obama aide Valerie Jarrett met at the White House on Wednesday with Harvard law professor...
...minced few words when questioning Treasury Secretary Timothy F. Geithner at quarterly hearings before the Congressional Oversight Panel...
...Treasury has now announced three plans and clearly has not gotten the job done," she told Geithner at a hearing last month. "What’s going to be different now, Mr. Secretary...