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U.S. proposes broad power to seize firms

Source: The Mercury News

Washington : DC : USA | 8 months ago

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That would let the government for the first time take control of private equity firms like Carlyle or industrial finance giants like GE Capital. The Treasury and the Fed each sent their own proposals to the House Financial Services Committee on Tuesday, and Obama has asked congressional leaders to...

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Timothy Geithner: FED must be stripped of its AIG-like bailout powers

By: myVox

Would you like the hard earned taxpayer's money be put in a bottomless bowl in the name of bailing out a bleeding financial firm? The like that the US Federal Reserve put in the case of financial behemoths Bear Stearns and AIG? Or, Ctibank if you like. Check the image above! Now, after inflicting all the damage that can ever be done the ...

about 1 month ago
A Good Question and a Good Answer

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You know sometimes a reporter asks a good question and the person getting interviewed gives a great answer. This morning on Meet The Press, David Gregory asked the Secretary of State, Timothy Geithner “Do you want to see AIG to be successful?” Geithner paused for a millisecond and said that he wants AIG to be ...

about 1 month ago
Geithner Plays Favorites

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Quiet concerns are circulating in Washington that the U.S. Secretary of the Treasury Timothy Geithner authorized purchase of assets from several financial institutions at 100% of their market value rather than the anticipated discounted prices. Reports have surfaced that Geithner approved payments to, among others, Wachovia and Goldman ...

17 days ago
Peter DeFazio: President Obama is Being Failed by His Economic Team

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President Barack Obama “is being failed by his economic team” and should replace Treasury Secretary Tim Geithner and White House Economic Policy Director Larry Summers, says US House Representative Peter DeFazio, The Raw Story reports. The well-known member of the Congressional Progressive Caucus told MSNBC’s The Ed Show that he ...

13 days ago
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News Stories

Geithner to lay out new risk, consumer rules

News Source: International Business Times | 8 months ago

Geithner, speaking to the Council on Foreign Relations in New York, said he would unveil a framework for dealing with the kind of systemic risk that bailed-out insurer American International Group posed. His remarks, released in Washington, came as...
U.S. proposes broad power to seize firms

News Source: The Mercury News | 8 months ago

That would let the government for the first time take control of private equity firms like Carlyle or industrial finance giants like GE Capital. The Treasury and the Fed each sent their own proposals to the House Financial Services Committee on...
MarketWatch: Geithner, Bernanke call for broad new powers to regulate ...

News Source: Androscoggin News | 8 months ago

Geithner and Bernanke tried to change the subject to a more elevated topic: How to avoid the next mess. They said Congress should broaden the authority of financial regulators to cover institutions, such as AIG, that can pose systemic risks but that...
Bernanke's Testimony on AIG - 3-24-2009 (Full Text)

News Source: International Business Times | 8 months ago

Chairman Frank, Ranking Member Bachus, and other members of the Committee, I appreciate having this opportunity to discuss the Federal Reserve's involvement with American International Group, Inc. (AIG). In my testimony, I will describe why...