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07 Aug 2011 21:37

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Politics: So much for leaving; Timmy Boy Geithner sticking around for a while

While there was word on the street that he was going to depart after the brutal debt ceiling crisis, Obama wanted him to stick around instead. This sounds like an aneurysm waiting to happen. source
Posted by Ernie Smith • 0 Comments • Permalink

02 Aug 2011 10:32

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Politics: Timothy Geithner: Debt ceiling vote process might affect our credit rating

  • I don’t know. It’s hard to tell. I think this is a good result but a terrible process. And again, again, as the world watched Congress step up to the edge of the abyss it made them really wonder whether this place can work.
  • Treasury Secretary Timothy Geithner • Offering his take on whether the U.S. might get a credit rating downgrade despite the fact that the debt ceiling increase will likely pass the Senate today. Many of Geithner’s recent statements regarding the debt ceiling seem to indicate that consumer and investor confidence was shaken by the long, roundabout process it took to get a debt ceiling increase. We’ll see if he’s right. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Jul 2011 23:23

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World: The US Treasury is running low on cash

  • 29 companies have more money than the United States Treasury
  • 7 of those companies are based in America source
  • » The American companies include: Bank of America, JPMorgan Chase, Morgan Stanley, Goldman Sachs, and Freddie Mac. Two of the top three companies on the list are Chinese. On the upside, the Treasury has as much money as Google, so that’s kind of a nice consolation prize.
Posted by Seth Millstein • 0 Comments • Permalink

19 Feb 2011 22:30

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Politics: Timothy Geithner on GOP’s spending diet plan: This will hurt jobs

  • In our judgment, the continuing opposition…in the House would undermine and damage our capacity to create jobs and expand the economy.
  • Treasury Secretary Timothy Geithner • Claiming that the GOP’s spending-cut-heavy plan threatens to severely hurt job creation. Geithner’s advice? Strengthen the economic recovery, then focus on deficit-cutting. “I am very confident that the Democrats and the Republicans will come together on a program to not just reduce spending but reduce long-term deficits,” he continued. source
Posted by Ernie Smith • 1 Comment • Permalink

20 Nov 2010 20:40

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Biz: Timothy Geithner to GOP: Don’t screw with us. You’ll regret it

  • It is very important to keep politics out of monetary policy. You want to be very careful not to take steps that hurt our credibility.
  • Treasury Secretary Timothy Geithner • Telling Republicans in no uncertain terms to stay out of the Federal Reserve’s BIZ-NASS. As we noted last night, Republicans are coming down hard on the money people pretty heavily, with some threatening to strip the Fed of some of its rights. May we offer a suggestion here? How about the legislators stick to legislating and the Treasury sticks to the money stuff? source
Posted by Ernie Smith • 2 Comments • Permalink

22 Apr 2010 11:22

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Biz: Lehman Brothers hearing: Who is this bad@$$ at the podium?

  • William Black here just got his teeth out and threw some knowledge out on the SEC, Lehman Brothers, and the financial system in general. He calls the problems that caused Lehman’s decline a “self-fulfilling policy of regulatory failure.” Why isn’t this guy like, running an agency? This is seriously a star turn here. source
Posted by Ernie Smith • 0 Comments • Permalink

08 Mar 2010 11:09

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Politics: Is Timothy Geithner getting the credit he deserves?

  • Barring something unexpected, the bailout will end up costing taxpayers less than the savings-and-loan implosion of the early nineteen-nineties. The government could conceivably end up making money.
  • New Yorker writer John Cassidy • Regarding Treasury Secretary Timothy Geithner’s much-maligned financial plan, which appears to be much less of a nightmare than it seemed a year ago. While many things are imperfect – the high unemployment rates and the bank’s seeming lack of desire to loan money to small business – it is looking like the government’s plan will likely put them in cash flow positive while helping to get the weakened economy out of its doldrums. Will Geithner get credit, though? source
Posted by Ernie Smith • 0 Comments • Permalink
 

12 Jan 2010 10:41

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Biz: Reward for risk: The Federal Reserve made a huge profit in 2009

  • $46.1 billion the size of the Federal Reserve’s profits in 2009
  • $14.4 billion the increase in the Fed’s profits from 2008 source
  • Why the increase? Simple. The Fed lowered its standards and became the buyer of last resort, buying assets nobody else wanted, and getting profits from those assets. In case you’re wondering, by the way, they dump these profits back to the Treasury.
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

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
 
 
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