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 More…
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 More…
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, More…
Wonder what more than $300 billion in taxpayer money for the Troubled Asset Relief Program has actually paid for? The Government Accounting Office spent close to three months trying to figure it out and today it announced the answer: It’s hard to say.
At 2:30 p.m. today, Treasury Secretary Tim Geithner is scheduled to appear before a Senate panel to testify about the Obama administration’s strategy for spending the second $350 billion of Wall Street bailout funding. This is important because the Bush administration, it’s widely agreed, frittered its share by providing 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…
MSNBC reports that barring last minute changes, Timothy Geithner, a career Treasury official under three administrations, is likely going to serve as the next secretary of the Treasury Dept.
Mortgage servicers have not done enough to help struggling homeowners avoid foreclosure, a leading Democrat said Wednesday, and Congress must now step in with new legislation to help them salvage their troubled loans.
“We have not seen servicers participating in any significant way,” Rep. Barney Frank (D-Mass.), chairman of the More…
President-elect Barack Obama’s choices for top positions in his new administration, such as his chief of staff, are drawing all the attention lately. But in the financial world, there’s a growing call for him to do more than just pick new personnel. There’s also a belief that the credit More…
As the Wall Street bailout program morphs from one helping banks to one benefiting insurers and (perhaps) automakers, the Bush administration is having a hard time explaining what rules are dictating the process — and where it’ll draw lines of eligibility.
It’s an unlikely spot for a conservative White More…
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