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Treasury Secretary Tim Geithner has a problem. On the one hand, he has to act to save the banks if he's going to start credit flowing and get the U.S. economy back on track. On the other hand, doing so makes him and his bosses look bad. Americans are against bailing out the banks by more than 2 to 1 in some polls. Worse, the banks themselves are deeply mistrustful of anything government might force on them. The head of Wells Fargo told Bloomberg on Monday that a key part of Geithner's plan, the so-called stress test...
...someone who supposedly "retired" in 2004, Tom Brokaw has kept plenty busy. He filled in as moderator of Meet the Press after the death of Tim Russert, pitched in on campaign coverage for NBC and completed a documentary on global warming in 2006. Covering the environment isn't a fad for Brokaw - the South Dakota native is a longtime outdoorsman, often fly-fishing near his home in Montana and hiking with green friends like Patagonia founder Yvon Chouinard. The former NBC Nightly News anchor just finished a new climate change documentary - Global Warming: The New Challenge with Tom Brokaw - which...
...champion of transparency in monetary policy, but he also recognizes that there are limits to what we know about the economic forecast and what that means to monetary policy." - then-New York Federal Reserve chief Tim Geithner, who now heads the U.S. Treasury Department. (BusinessWeek...
...Tim and Jane McHale, Allston residents and members of the Allston Brighton North Neighbors Forum, emphasized the need to connect the Allston and Brighton neighborhoods—currently separated by empty industrial facilities and the Brighton Mills Shopping Center—perhaps by building small-scale housing and parks. And Anne C. Lusk, a postdoctoral research fellow at the School of Public Health and a Brookline resident, said that Harvard and the city should take advantage of the economic downturn to focus on other aspects of Harvard’s development plans—such as reducing automobile usage...
...agenda, he understands how much is riding on the gradual rollout of version 2.0 of his bank plan - not necessarily bigger than the $787 billion package that left the markets cold, but sharper and more plausible. The trouble with the initial draft unveiled unartfully last month by Treasury Secretary Tim Geithner, says Moody's Economy.com chief economist Mark Zandi, was that it was "too clever by half," creating elaborate incentives for private investors when the simple solution would be to have Uncle Sam immediately wade in, grab control, wring out the bad debt and punish the malefactors. The more complex...