The government seeks as much as $5 billion in civil penalties for losses to federally insured banks and credit unions that relied on the S&P’s claims.
Tagged with: Standard & Poor's Timothy Geithner
Read More »The government seeks as much as $5 billion in civil penalties for losses to federally insured banks and credit unions that relied on the S&P’s claims.
Tagged with: Standard & Poor's Timothy Geithner
Read More »What would Ferdinand Pecora do? Thirty-seven years after his death, the name of this former assistant district attorney from New York suddenly is on a lot of politicians’ lips. Starting in 1933, as counsel to the Senate Banking and Currency ...
Tagged with: Ferdinand Pecora Glass-Steagall Act Nancy Pelosi Securities and Exchange Commission Timothy Geithner Treasury Department Wall Street
Read More »Action is what politicians are all about, especially in a crisis. So you can be sure that Treasury Secretary Timothy Geithner’s Public-Private Investment Program to restructure troubled banks will hardly be the last rescue plan – as they inevitably, heroically, ...
Tagged with: G-20 Mont Pelerin Society MPS Timothy Geithner Treasury Secretary troubled banks
Read More »I feel like Rush Limbaugh now, because I really want certain people to fail: George W. Bush’s former economic adviser, Lawrence Lindsey, Nobel Prize-winning economists Paul Krugman and Columbia University Professor Joseph Stiglitz. All of them say the U.S. Treasury’s ...
Tagged with: bank assets economy Timothy Geithner treasury troubled bank
Read More »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
Read More »Treasury Secretary Timothy Geithner never looks so tall as when he’s sitting down. Sketching a diagram about the nation’s banks on a legal pad in Bloomberg Television’s green room last week, he showed he’s at his most impressive when the ...
Tagged with: banking crisis Barack Obama Kent Conrad New York Federal Reserve Board Timothy Geithner
Read More »Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley and Wells Fargo & Co. agreed to suspend foreclosures while the Obama administration crafts a housing plan to modify mortgages for troubled borrowers. Citigroup will halt foreclosures through ...
Tagged with: Bank of America Corp. Barack Obama Barney Frank Citigroup Inc. foreclosure housing plan Jamie Dimon JPMorgan Chase & Co. Morgan Stanley mortgage Timothy Geithner Troubled Asset Relief Program Wells Fargo & Co.
Read More »There is one way to be sure that you are complying precisely with U.S. tax law: read the entire code. Problem is, it currently contains about 3.4 million words. That’s like reading “War and Peace” six times. If you did ...
Tagged with: Barack Obama tax law Timothy Geithner Treasury Secretary
Read More »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
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