When Timothy Geithner was nominated as U.S. Treasury secretary in November, the stock market soared and he won bipartisan plaudits. Departing Treasury chief Henry Paulson, a Republican, expressed “the highest regard for him.” House Financial Services Committee Chairman Barney Frank, ...

Tagged with: Henry Paulson Richard Shelby Senate Banking Committee stock market Timothy Geithner U.S. Treasury

This may be as close as we’re going to get to a Fed chairman labeling some in Congress as irresponsible. Sure, Federal Reserve Chairman Ben S. Bernanke was typically careful with his wording in a Jan. 13 speech in London. ...

Tagged with: Ben Bernanke Congress Federal Reserve Henry Paulson irresponsible Troubled Asset Relief Program

The U.S. Treasury, under pressure to revive lending, is demanding monthly reports from the banks that received the most capital from the government’s $700 billion rescue program. Neel Kashkari, the official who administers the Troubled Asset Relief Program, wrote to ...

Tagged with: bank Bank of America Barack Obama Citigroup Inc. Henry Paulson Michael Hanretta Neel Kashkari treasury Troubled Asset Relief Program

Barack Obama begins his term as 44th president of the United States with an ambitious agenda in addition to the pressing problems posed by an economic and financial crisis. Before he can get to either, the new president needs to ...

Tagged with: Barack Obama Ben Bernanke economy Federal Reserve Henry Paulson Troubled Asset Relief Program

Federal Reserve officials are focused on driving down the spreads between U.S. Treasury yields and consumer and corporate loans, after cutting the main interest rate to almost zero failed to revive lending. Credit costs for households and businesses haven’t followed ...

Tagged with: bank Barack Obama Federal Reserve Henry Paulson mortgage TARP Timothy Geithner U.S. Treasury Department

As the new owner of $172.5 billion of preferred shares and warrants in 208 U.S. financial institutions, the Treasury Department hasn’t succeeded in thawing frozen credit markets, leaving taxpayers propping up an industry that won’t lend to them. While inter-bank ...

Tagged with: AIG Alan S. Blinder Congress credit markets Henry Paulson Jeffrey Garten JPMorgan Chase & Co. TARP Treasury Department Wells Fargo & Co.