iOS app Android app

Geithner Bailout

Geithner: Bailouts For Big Banks 'Deeply Unfair'

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — Treasury Secretary Timothy Geithner said Thursday it's "deeply unfair" that some financial institutions that got taxpayer-paid bail...

Geithner: Bailout Program Extended To October

AP | MARTIN CRUTSINGER and DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — The Obama administration has extended the $700 billion financial bailout program until October, setting up a struggle between Democ...

A Proposal on How to Clean Up the Banks

Jeffrey Sachs | Posted 05.25.2011 | Business
Jeffrey Sachs

The taxpayers should take over the bad assets in return for bank equity, but with a twist: the amount of equity transferred to the taxpayers would not be determined immediately.

Ryan Grim

Ignoring Watchdog Report, Treasury Gives Three Major Banks Sweetheart Deals | Ryan Grim | Posted 05.25.2011 | Politics

Less than two weeks after a congressional watchdog called attention to backroom deals in which the Treasury Department repurchased stock warrants from...

Geithner says major banks have raised $56 billion

AP | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — Declaring that the financial system was "starting to heal," Treasury Secretary Timothy Geithner said Wednesday that major banks had...

How TARP Began: An Exclusive Inside View

US News & World Report | Posted 05.25.2011 | Business

When it first came into existence last September, TARP--the troubled assets relief program--sounded like just another ungainly government acronym. But...

It's Time to Treat America's Homeowners as Well as We've Been Treating Wall Street's Bankers

Arianna Huffington | Posted 05.25.2011 | Business
Arianna Huffington

"The banks are too big to fail" has been the mantra we've been hearing since September. But when you consider the millions of American homeowners facing foreclosure, aren't they also too big to fail?

Finance leaders want cooperation to end recession

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Finance officials from the world's top economic powers pledged Friday to move swiftly on efforts to lift nations out of the worst r...

Obama Really Wall Street CEO In Chief?

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

So far, I've laid the Obama administration's decision to keep propping up failed banks at Tim Geithner's feet. Obama, meanwhile, has so far avoided blame. I wonder how long that will last.

When the Next Banking Scandal Hits...

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

The way Tim Geithner has structured the banking plan, the Obama administration will, sooner or later, almost certainly be facing another AIG bonuses-type of outrage.

Will Geithner Fire Corporate America?

Robert Reich | Posted 05.25.2011 | Business
Robert Reich

Geithner's new tough line is mostly designed to reassure a public that's lost all faith in the wisdom of bailing out Wall Street.

Geithner Open To Option Of Ousting Bailed-Out Bank CEOs

CBS News | Posted 05.25.2011 | Business

Days after GM's CEO Rick Wagoner was forced out by the Obama administration, Treasury Secretary Timothy Geithner left open the possibility that such m...

In for a Penny, In for $2.98 Trillion

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

Those orchestrating the bailout and those grabbing the money are for the most part friends and former colleagues, with enormous respect for each other but not for the American taxpayer and homeowner.

Noam Chomsky Discusses Geithner

The Real News | Posted 05.25.2011 | Politics
The Real News

Chomsky believes the economic system in America is built in a way that often penalizes the public.

Obama's Banking Rescue: O for Opaque

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

I fear that these columns have been too polite. What we have is something perilously close to a dictatorship of the Fed and the Treasury, acting in the interests of Wall Street.

The Two Faces of Tim Geithner

Benjamin R. Barber | Posted 05.25.2011 | Business
Benjamin R. Barber

Like the president he serves, Geithner is a pragmatist, a progressive and a Democrat, and seems willing, if market strategies fail (as they will), to abandon them in favor of whatever works.

One Small Problem With Geithner's Plan: It Will Bankrupt The Banks

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

The big problem with Tim Geithner's plan to fix the banks is the same as it ever was: The gap between what banks say their assets are worth and what the market says they are worth.

Reel in the Credit-Rating Agencies

Eric C. Anderson | Posted 05.25.2011 | Business
Eric C. Anderson

Geithner and the SEC must take direct aim at the root cause of our ailments. That means fixing the credit-rating agency problem now.

"Gotcha" Grandstanding: You're A Bunch Of Rude Dudes

Betsy Perry | Posted 05.25.2011 | Politics
Betsy Perry

While I'm all for coming clean and getting the dirt on AIG and Goldman Sachs, the behavior of the committee members is all about listening to themselves talk, grandstanding and "gotcha" moments.

Three Scenarios for the Geithner Plan

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

The very premise behind Geithner's plan is flawed. We insist on saving the banks, and refuse to admit most of them are impaired beyond hope.

Take the Steering Wheel out of Geithner's Hands

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

Tim Geithner's actions throughout his career, including his time as Treasury Secretary, are proof that the toxic thinking that got us into this mess is part of his DNA.

Stop Bashing the Obama Economic Plan

Jacob Heilbrunn | Posted 05.25.2011 | Politics
Jacob Heilbrunn

It remains astonishing that a variety of pundits and lawmakers continue to underestimate Obama. Will Obama rescue the economy? Yes, he can. But not if the Democrats try to stop him first.

Dow jumps as Obama admin. moves on bad bank assets

AP | TOM RAUM | Posted 05.25.2011 | Business

WASHINGTON — The Obama administration aimed squarely at the crisis clogging the nation's credit system Monday with a plan to take over up to $1 ...

Geithner's Five Big Misconceptions

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

Geithner views the crisis the same way Wall Street does -- as a temporary liquidity problem -- and his plans to fix it are designed with the best interests of Wall Street in mind.

Geithner's Last Stand

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

The indignation over AIG will serve a useful purpose if it focuses public attention on the much larger issue of the failure of the entire approach that Tim Geithner and Larry Summers are using to rescue the banking system.