treasury

“Mr. Secretary, I’m not a man that fears this administration or you,” Rep. Paul Kanjorski (D-Pa.) told Geithner. “But I do fear the accumulation of power exercised by someone in the future that can be extraordinary.”

Since the Wall Street bailout was signed into law last October, critics of the strategy have often been met with a central reassurance from leaders of the Treasury Department and the Federal Reserve: The taxpayer-funded rescue, these officials have said, is not a bailout at all, but an investment that could very well return the [...]

Some House members seek to resurrect a measure to allow bankruptcy judges to cramdown loan principals and terms that failed in the Senate this spring.

It’s not that difficult to understand why everyone would be ready to sound the alarm on inflation. The government has been borrowing heavily and the Federal Reserve has been massively expanding its balance sheet and holding its interest rate target at very near zero. In ordinary times, this combination would send prices soaring. And while [...]

It’s not easy to recall, but the cornerstone of the administration’s policy to stabilize the banking system is the so-called PPIP — the Public-Private Investment Partnerships designed to help get troubled assets off the balance sheets of the nation’s banks. The idea was to use up to $100 billion in remaining Troubled Asset Relief Program [...]

Noam Scheiber directs us to an interesting Politico assessment of how changes in the handling of Treasury Secretary Tim Geithner have boosted his reputation:
They [Geithner's advisers] decided to “let Tim be Tim” and accepted the fact that his strength wasn’t giving a speech in front of a bunch of flags. Rather, they let reporters see [...]

Treasury Secretary Tim Geithner appeared before the Senate Banking Committee today to discuss the Wall Street bailout, but Sen. Sherrod Brown (D-Ohio) wanted to talk about the auto industry instead. There was good reason for Brown’s concern. Not only are Detroit’s automakers hemorrhaging cash, ditching dealerships and laying off employees, but recent reports indicate that [...]

Paul Krugman raises a point worth thinking about as you hear more about stress test results for banks, which are expected to be publicly disclosed on Thursday. Why have so many of the results already been leaked — and who is doing the leaking? For example, we’ve known since last week that Citigroup and Bank [...]

Rep. Darrell Issa (R-Calif.) was on Fox News today demanding the resignation of Treasury Secretary Timothy Geithner, and it was remarkable how broad his case was. First, Geithner needed to go because he “should have known more” and he “should have demanded” that AIG renegotiate its bonuses. When Fox’s Megyn Kelly pointed out that Geithner [...]

AIG CEO Edward Liddy said today that he’s asked AIG employees who received bonuses larger than $100,000 to give half the money back, and that some AIG employees have agreed to give the entire payment back. But Liddy refused to provide Congress with the names of who’s given back what, noting that AIG employees have [...]