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Treasury Secretary Tim Geithner had every reason to think he had seen all of AIG's dirty laundry. The government owned 80% of the company, and Geithner had just orchestrated AIG's most recent handout - its fourth, if you are keeping score, for $30 billion on March 2 - to prevent the teetering insurance giant from going over the cliff and taking the rest of the global financial system with it. AIG had already cost the taxpayers some $170 billion, mostly to repair the damage done by one of its units, AIG Financial Products (AIG FP), which last year alone piled...
...bipartisan agreement. Republicans have largely been reluctant to scare away a Treasury chief who has roots in the Bush era and understands their benefactors' core businesses; Democrats are even more reluctant to publicly criticize the President's choice at a moment of economic peril. "I have complete confidence in Tim Geithner and my entire economic team," Barack Obama said. "He is making all the right moves in terms of playing a bad hand." Still, a longtime Treasury observer says, "his margin for error has been reduced...
...Geithner received solid backing from President Barack Obama on the South Lawn on Wednesday before the President left for California. "I have complete confidence in Tim Geithner and my entire economic team," Obama said. "Nobody is working harder than this guy. He is making all the right moves in terms of playing a bad hand...
Bailey’s story was brought closer to students on Tuesday evening, when Tim Marchell, director of mental health initiatives at Cornell University, engaged students in a discussion about hazing and past incidents of hazing at Harvard...
...murder in connection with the pipe bomb incident. In 2008, she was briefly released when California's parole board miscalculated her parole eligibility; Olson spent five days with her family before being returned to prison. Her impending release this week also sparked a kerfuffle, with Minnesota officials - including Governor Tim Pawlenty - petitioning California Governor Arnold Schwarzenegger to force Olson to serve her parole in California, the state in which she committed her crimes. Those requests were denied...