It was a tough morning for Treasury Secretary Tim Geithner, summoned to Capitol Hill to testify on the decision-making surrounding the federal bailout of American International Group, which ultimately received more than $180 billion in taxpayer cash.
The controversy in recent weeks has centered not on the money More…
The tax on the nation’s bailed-out banks, proposed by President Obama last week, has won the support of congressional liberals, and even some conservative commentators have jumped on board. But don’t try to convince Peter Morici. The University of Maryland business professor (and prominent voice on More…
It’s no mystery that Treasury Secretary Tim Geithner is the ultimate Wall Street insider. But it seems that more and more Democrats are losing their patience with what they perceive as his protectionism of the finance industry at the expense of consumers and taxpayers. The latest More…
With Treasury Secretary Tim Geithner by his side, President Barack Obama just announced the highly anticipated new executive pay limits for companies receiving taxpayer help under the $700 billion Troubled Assets Relief Program.
“In order to restore our financial system, we’ve got to restore trust,” Obama said. “And in order More…
A trusting Congress might be setting itself up to be burned again.
Last week, even as he introduced legislation to bolster Washington oversight of the Wall Street bailout, Rep. Barney Frank (D-Mass.) all but proclaimed his own proposal unnecessary.
“It doesn’t have to be enacted,” Frank, who chairs the House More…
Regarding our earlier challenge to name the big government effort now underway to save the financial markets, Treasury Sec. Henry Paulson Jr. has come up with a tagline for the Wall Street bailout of all bailouts – the Troubled Assets Relief Program.
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