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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

30 Jun 2011 19:00

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Politics: Timothy Geithner: Don’t believe the hype, I’m not leavin’ guys!

  • I live for this work. It’s the only thing I’ve ever done. I believe in it. I’m going to be doing it for the forseeable future.
  • Treasury Secretary Timothy Geithner • Denying the speculation about his possible departure from his post. By the way, has anyone figured out a way to see into next week? We’re not sure if we believe him. That said, he did claim that personal issues were weighing on his mind right now: “I have a family, and my son’s going back to New York to finish high school,” he said. “I’m going to be commuting for a while.” Hope he learns to love Amtrak. source
Posted by Ernie Smith • 0 Comments • Permalink

30 Jun 2011 18:05

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Politics: Report: Geithner may resign following debt limit deal

  • Timothy Geithner’s last rodeo? It’s reported that Treasury Secretary Timothy Geithner may walk away from his post once a deal is reached to raise the U.S. debt limit. Geithner has served in that position since 2009. (Photo by Moritz Hager, courtesy World Economics Forum) source
Posted by Chris Tognotti • 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

01 Jan 2011 21:54

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Biz: Henry Paulson personally lost $1 million in the housing crisis

  • See? Treasury secretaries suffer just like the rest of us. You can call Henry Paulson a lot of things, but one thing you can’t call the Bush-era Treasury Secretary is “unaffected by the financial crisis.” See, Paulson’s home just got sold on the D.C. housing market, and it went for far less than he bought it for. Let’s check the numbers already:
  • $4.3M the cost he paid for his home, near the National Cathedral, in 2006 (which is swank, BTW)
  • $4.6M the amount Paulson, no longer a bureaucrat, put the home on the market for in April
  • $3.25M the amount Paulson’s home finally sold for a couple of weeks ago – a $1 million loss source
Posted by Ernie Smith • 0 Comments • Permalink

01 Oct 2010 00:10

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Biz, U.S.: TARP’s final cost could be way less than first advertised

  • $700 billion the amount TARP cost taxpayers when it first happened two years ago
  • $50
    billion     the most TARP will cost taxpayers when all is said and done source
  • » Says who?: The White House’s Treasury Secretary, Timothy Geithner, suggested that the final bill for TARP could be 7 percent of the original cost – or less, depending on how the markets go. But don’t expect anyone to gloat about this. TARP is political poison.
Posted by Ernie Smith • 1 Comment • Permalink

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
 

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

14 May 2009 08:01

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Biz, U.S.: Former treasury secretary Paulson strong-armed the banks

  • If a capital infusion is not appealing, you should be aware that your regulator will require it in any circumstance. We don’t believe it is tenable to opt out because doing so would leave you vulnerable and exposed.
  • Former Treasury Secretary Henry Paulson • In a one-page memo of talking points prepared for a meeting last October, when he essentially forced the hand of nine banks the Bush administration felt were “central to any solution” to the credit crisis. The situation already sucked enough; did they really need to be strongarmed? • 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
 
 
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