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27 Jan 2010 10:18

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Biz, U.S.: Timothy Geithner: We had to save AIG to save the economy

  • We acted because the consequences of AIG failing at that time, in those circumstances, would have been catastrophic for our economy and for American families and businesses.
  • Treasury secretary Timothy Geithner • In remarks prepared before a meeting in front of a House committee today. The AIG bailout, and the TARP program, have been the subject of a watchdog probe. Today’s hearing, which also features Geithner’s predecessor Henry Paulson, was called after documents from the Federal Reserve Bank of New York (led by Geithner when Paulson was Treasury secretary) suggested that information was withheld from the public on the AIG bailout. source
Posted by Ernie Smith • 0 Comments • Permalink

09 Dec 2009 09:58

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Biz, U.S.: The phrase “TARP” isn’t leaving our lives anytime soon

  • TARP is going nowhere, guys. Treasury secretary Timothy Geithner informed Congress this morning that the program, set to expire at the end of the year, will be extended until at least October. Which means that the bailouts won’t be going anywhere anytime soon, as a way to extend small-business credit. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Sep 2009 09:59

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U.S.: Senate minority to Timothy Geithner: Kill TARP. Now.

  • 39 Republican Senators (and one Democrat) want TARP to end source
Posted by Ernie Smith • 0 Comments • Permalink

31 May 2009 10:36

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Biz, U.S., World: The latest economic status update from one Timothy Geithner

  • We are seeing more durable stability in the economy and the financial system is substantially in better shape. But we have a ways to go, and we need to keep working in the U.S. and with other major economies to restore conditions for a sustainable recovery.
  • Treasury Secretary Timothy Geithner • Speaking yesterday as he was traveling to China to do whatever a treasury secretary does. (Seriously, he plans to offer reassurances to the country that the U.S. is on the right track financially and that their financial investments are safe.) • source
Posted by Ernie Smith • 0 Comments • Permalink

07 May 2009 09:03

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Biz, Politics, U.S.: Timothy Geithner sounds like a smart guy in this NYT op-ed

  • The effect of this capital assessment will be to help replace uncertainty with transparency. It will provide greater clarity about the resources major banks have to absorb future losses.
  • Treasury Secretary Timothy Geithner • Making an argument in the New York Times as to why the banking industry stress tests were necessary, even though they made Bank of America look like the worst company on the planet to hold your money. Jeez, if only he did this a few months ago when everyone hated him for sucking at his job. • source
Posted by Ernie Smith • 0 Comments • Permalink

05 May 2009 18:47

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Politics, U.S.: Timothy Geithner celebrates HIS 100th day. How’s he doin’?

  • He is faced with so many challenges, so many financial stalls to muck out, that it may be a long time before we can measure his results beyond his growing skill at projecting confidence.
  • Daily Beast blogger Allan Dodds Frank • In an analysis piece on Geithner so far. He says the treasury secretary has had so much on his plate compared to his predecessors that we have to focus on him in the long-term rather than by short-term results, which thus far have alternated between nightmarish and redemptive. • source
Posted by Ernie Smith • 0 Comments • Permalink

26 Mar 2009 10:56

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Biz, U.S.: Timothy Geithner wants to add more financial industry oversight

  • Our system failed in basic fundamental ways. The system proved too unstable and fragile, subject to significant crises every few years, periodic booms in real estate markets and in credit, followed by busts and contraction.
  • Treasury secretary Timothy Geithner • In testimony to the House Financial Services Committee (which is headed by awesome guy Barney Frank). He wants to fix the broken system. Hey, if he pulls it off, maybe people won’t hate him anymore. • source
Posted by Ernie Smith • 0 Comments • Permalink
 

23 Mar 2009 22:18

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Biz, U.S.: Timothy Geithner, isn’t it nice that today didn’t blow up in your face?

  • Last month, Geithner released an economic plan short on details and high on hope. Wall Street didn’t like that. source
  • This month, Geithner actually released a detailed plan that said what they were gonna do. Wall Street liked that. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Mar 2009 09:40

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Politics, U.S.: Don’t expect much more bailout support from Congress

  • AIG has become the straw that broke the camel’s back. It pushed people off the edge.
  • Sen. Mary Landrieu, D-La. • On the possibility of another bailout plan getting through Congress. With support of the treasury low and constituent criticism high, Timothy Geithner and Barack Obama may have more luck pushing an elephant through the halls of Congress. • source
Posted by Ernie Smith • 0 Comments • Permalink

19 Mar 2009 21:26

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Politics, U.S.: Republican strategist: Off with Timothy Geithner’s head!

  • Geithner’s only constituent is President Obama. Mr. Obama selected Mr. Geithner because his appointment was expected to calm Wall Street. But what good does it do the president to gain Wall Street and lose the rest of America?
  • John Feehery • A Republican strategist who wrote an entire article trashing on Treasury Secretary Timothy Geithner. In the wake of the AIG bonus scandal on top of his apparent incompetency, Feehery and other Republicans – and heck, some Democrats – are calling for his resignation already. Obama hasn’t even made it through his first 100 days yet! • source
Posted by Ernie Smith • 0 Comments • Permalink
 
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