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.
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Less than two weeks after a congressional watchdog called attention to backroom deals in which the Treasury Department repurchased stock warrants from...
When it first came into existence last September, TARP--the troubled assets relief program--sounded like just another ungainly government acronym. But...
"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?
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.
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.
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.
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...
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.
Chomsky believes the economic system in America is built in a way that often penalizes the public.
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.
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.
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.
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.
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.
Geithner and the SEC must take direct aim at the root cause of our ailments. That means fixing the credit-rating agency problem now.
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.
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.
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.
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.
If the American people come to see the Obama administration as complicit in Wall Street's unethical behavior, then Obama's entire economic program could end up in shambles.
It would be a bit disturbing if a president who has said he wants to hear the widest range of opinions on important issues would want to dismiss those who write blog posts.
Treasury Secretary Timothy Geithner spoke with PBS' Jim Lehrer on Wednesday evening about the Obama administration's economic plans.
Among the highli...
One reason the US authorities are reluctant to pull the plug on any big banks is that they hope their toxic asset purchase plan could show that losses...
In order not to spook markets, Obama and a small team of financial commandos needs to orchestrate a sneak attack on the Zombie Banks.
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