Sometimes sorry seems to be the hardest word, but Treasury Secretary-nominee Timothy Geithner apologized profusely at his confirmation hearing today for underpaying $34,000 in taxes. And that seems to be enough to ensure he’ll get the job, the New York Times reports.
In an interview with ABC’s Charlie Gibson Thursday, Sen. John McCain said his “Homeownership Resurgence Plan” to allow the federal government to buy up bad debt from banks and allow people to refinance mortgages they can no longer pay, may require $300 billion in “new money.”
New More…
MarketWatch takes a hard look at Republican nominee John McCain’s surprise proposal in last night’s debate to have the government buy up bad mortgages and renegotiate them.
If that idea sounded a little familiar, MarketWatch pointed out, that’s because the $700-billion rescue package already includes authority for the Treasury More…
Roger Ehrenberg worked on Wall Street for 17 years, and he’s been a supporter of Treasury Sec. Henry Paulson Jr. since he was named to the post. But at Information Arbitrage, Ehrenberg details how Paulson mismanaged the $700-billion bailout from a public-relations standpoint.
Paulson’s biggest mistakes? Asking for supreme More…
Politico’s Jonathan Martin nails the headline:
We’re All Socialists Now
Time to take a step back: A Republican president just sent out his Treasury secretary to announce the federal government will spend “hundreds of billions of dollars” to takeover a not-insignificant chunk of the economy.
From USA Today:
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