This weekend, Treasury Secretary Timothy Geithner appeared on two Sunday news programs to make the case for the expiry of the Bush tax cuts on the wealthiest earners and to argue for a strong recovery. The backdrop for the appearances is the looming fight over how to extend the 2001 More…
Speaking on MSNBC yesterday night, Rep. Barney Frank (D-Mass.) pushed for the Obama administration to choose Elizabeth Warren — a Harvard Law professor and the current head of the Congressional Oversight Panel over the Troubled Asset Relief Program — as the head of the new Consumer Financial Protection Bureau. More…
The Washington Post, this morning:
Senior administration officials are considering the creation of a single agency to regulate the banking industry, replacing a patchwork of agencies that failed to prevent banks from falling into the worst financial crisis since the Great Depression, sources said.
Bloomberg, today:
House Financial Services Committee
Rep. Brad Sherman (D-Calif.) challenged Treasury Secretary Timothy Geithner today to release details of bonuses given to executives of companies that have received TARP funds, Talking Points Memo reports.
When Geithner didn’t immediately jump on the idea, Sherman jumped on him.
“You won’t commit to telling the American people how More…
The outrage over AIG bonuses is dying down, but it is only being replaced by a blame game. According to critics, President Obama went too far in his populist pronouncements against banks, and his administration, led by Treasury Secretary Timothy Geithner, is bungling the rescue effort. Banking executives have More…
Peter Baker’s news analysis of the tax payment problems of some Obama nominees is deeply strange. The premise is right—the Democrats look bad after a week of withdrawn or stalled nominees who botched their tax forms. All true. But Baker’s sources are talking nonsense.
President Obama’s team of advisers, initially touted for its wealth of experience and qualifications, continues to unravel as Nancy Killefer withdraws her nomination for chief performance officer, CNN reports. In this newly created position, Killefer would have worked with the Office of Management and Budget to increase More…
No shocker here.
Despite some reservations from a small minority of Republicans, the Senate Finance Committee voted this morning to approve Tim Geithner to head the Treasury Department. The vote was 18 to 5, The Page reports. Geithner’s nomination now goes to the full Senate for a More…
The confirmation hearings for Transportation Secretary-designate Ray LaHood, set to begin today, may have gotten a bit more complicated this morning. The Washington Post reports that as an Illinois GOP congressman, LaHood was a big fan of earmarks — often to the benefit of some of his largest campaign contributors. More…
Reports are trickling out that President-elect Barack Obama’s choice for treasury secretary, Tim Geithner, may not have paid Social Security or Medicare taxes for “years” and he may have employed an illegal immigrant as a housekeeper, according to Mark Halperin, via the Wall Street Journal. MSNBC just reported the More…
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