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Tag: Treasury Secretary


Don Hankins (CC BY 2.0)

Shortchanged Workers Fuel the Missing Recovery

“Today the stock market is high not from profits from expanding sales revenues, but from labor cost savings,” former Reagan Treasury Secretary Paul Craig Roberts writes in CounterPunch.

Posted on Mar 6, 2013 READ MORE


Sarah Palin

New Treasury Secretary Confirmed, Palin Claims Feds ‘Stockpiling Bullets,’ and More

A look at the day’s political happenings, including California voters make an about-face on marijuana legalization and an Illinois lawmaker offers an interesting comparison on gun control.

Posted on Feb 27, 2013 READ MORE



Pastor’s Anti-Gay Remarks Stir Inauguration Controversy, Taibbi Blasts Government Lies, and More

A look at the day’s political happenings, including CNN interrupting Joe Biden’s gun control presentation to report on another school shooting and a heated on-air argument between MSNBC’s “Morning Joe” co-hosts.

Posted on Jan 10, 2013 READ MORE



Obama Picks Next Treasury Secretary, Jon Stewart Weighs In on Guns, and More

A look at the day’s political happenings, including AIG’s decision on whether to join a lawsuit against the government over the financial crisis bailout and the White House’s response to a petition to deport Piers Morgan.

Posted on Jan 9, 2013 READ MORE



AP/Francisco Seco

Pick Paul Krugman, Mr. President

The Nobel Prize-winning economist and public advocate is at the top of every liberal’s wish list for President Obama’s second-term Cabinet appointments.

Posted on Jan 5, 2013 READ MORE



AP / Charles Dharapak

Geithner Eyes the Exit

If you saw the broadcast of Tuesday’s State of the Union address, you might have caught Treasury Secretary Timothy Geithner looking a little uneasy on his perch next to a solemn Secretary of State Hillary Clinton, which could have something to do with the state of his position at the White House.

Posted on Jan 25, 2012 READ MORE


Paulson Congress
AP / Lauren Victoria Burke

Paulson Tipped Hedge Funds About Market Meltdown

Back in July of 2008, when most of us were still blissfully ignorant about the approaching economic apocalypse, then-Treasury Secretary Henry Paulson was very aware of some important market distress signals, and he chose to share some of those with an elite group of financial executives, Bloomberg reported Tuesday.

Posted on Nov 29, 2011 READ MORE



Flickr / World Economic Forum (CC-BY-SA)

Geithner Denies Signaling His Departure

Treasury Secretary Timothy Geithner denied in an interview with former President Bill Clinton recent reports that he was considering stepping down from his post after Congress hammers out an agreement on the federal debt limit later this summer. (more)

Posted on Jul 1, 2011 READ MORE



AP / Jacquelyn Martin

Bill Clinton’s Legacy of Denial

Endorsing the Republican agenda of financial industry deregulation, reversing New Deal safeguards, President Clinton pursued policies that in the long run created more damage to the American economy than any other president since Herbert Hoover.

Posted on Jun 21, 2011 READ MORE



AP / Cliff Owen

The Big Guy’s on Our Side

Paul Volcker, or the “big guy,” as President Barack Obama refers to the former Federal Reserve chair who heads his Economic Recovery Advisory Board, nailed it in a series of blistering remarks on the sorry state of our economy.

Posted on Sep 28, 2010 READ MORE


Obama
AP / Pablo Martinez Monsivais

Two More Candidates for the McChrystal Treatment

It’s not working. Time for the president to concede that the economy is at best stagnating and at worst about to take another steep nose dive.

Posted on Jul 6, 2010 READ MORE



White House / Pete Souza

Rep. Cummings Wants Geithner to Testify About N.Y. Fed-AIG E-Mails

Back in 2008, when Treasury Secretary Timothy Geithner was just the lowly president of the New York Federal Reserve, he was involved in some interactions with embattled insurance giant AIG that apparently resulted in AIG withholding important information from the public. Now Geithner’s under pressure from at least one concerned member of Congress to testify about this matter.

Posted on Jan 8, 2010 READ MORE


Timothy Geithner
Wikimedia Commons / Presidencia de la Nación Argentina

Geithner Gives TARP an Extension

The Troubled Asset Relief Program, otherwise known as TARP, was scheduled to expire at the end of this year, but Treasury Secretary Timothy Geithner told Congress on Wednesday that it’ll stick around until October 2010, partly as a precautionary measure in case of economic emergency and partly to help struggling homeowners, banks and small businesses.

Posted on Dec 9, 2009 READ MORE


Obama and Geithner
AP photo / Ron Edmonds

Cashing In on ‘Government Sachs’

We are so inured to tales of business corruption that even a devastating exposé in The Wall Street Journal no longer shocks us. The fact that the chairman of the New York Federal Reserve Bank made millions off his secret purchase of Goldman Sachs stock has barely registered a blip of outrage. 

Posted on May 5, 2009 READ MORE


Geithner and Bernanke
AP photo / Susan Walsh

Geithner Calls for More Authority After AIG Mess

In testifying before Congress on Tuesday, Treasury Secretary Timothy Geithner asked for what he called “new resolution authority” to grant the federal government the ability to more successfully take on financial institutions like AIG (i.e., non-banks) in the future.

Posted on Mar 24, 2009 READ MORE


Getting Ready for Geithner

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Posted on Mar 23, 2009 READ MORE    


Geithner and Obama
AP photo / Gerald Herbert

And Now, This Tepid Message From Our Treasury Chief

We’ve seen a lot of Timothy Geithner lately in the news—usually looking concerned yet purposeful as he stands behind the president in photos and press conferences—but we haven’t heard a great deal straight from the source. On Thursday, CNN’s Ali Velshi managed to get the treasury secretary talking, but what Geithner had to say is distinctly underwhelming.

Posted on Mar 19, 2009 READ MORE


Geithner
AP photo / Lawrence Jackson

No Tough Love for Wall Street

What an insipid anticlimax! Rising to “a challenge more complex than our financial system has ever faced,” Treasury Secretary Timothy Geithner promised on Tuesday to give trillions more to the very folks who profited from that malignant complexity.

Posted on Feb 10, 2009 READ MORE


Geithner Claw!
bloomberg.com

Geithner Urges ‘Fundamental Reform’ in Bailout

It’s the first full day of Obama’s administration and things are looking a bit different in D.C. Treasury secretary nominee Timothy Geithner called for “fundamental reform” of the $700 billion bailout, claiming the existing bailout package favored big business over struggling families.

Posted on Jan 21, 2009 READ MORE


Rubin
treas.gov

Rubin Bows Out of Citigroup

Almost a year ago, Citigroup’s then-director Robert Rubin downplayed the enormity of the economic catastrophe headed our way and made a pre-emptive move to shift any potential blame to politicians instead of financial experts such as himself. Fast-forward to the present and the picture changes considerably.

Posted on Jan 9, 2009 READ MORE


Geithner
Wikimedia Commons / federalreserve.gov

Stocks Rise as Geithner Becomes Treasury Front-Runner

Friday brought more news from purportedly reliable sources close to Barack Obama, this time suggesting that the president-elect was zeroing in on Timothy Geithner as his pick for treasury secretary and New Mexico Gov. Bill Richardson for commerce secretary.

Posted on Nov 21, 2008 READ MORE


Thomson, Paulson and Rubin
AP photo / J. Scott Applewhite

Change We Can Bank On

This is not change we can believe in. Not if Robert Rubin or his protégé, Lawrence Summers, get to call the shots on the economy in President-elect Barack Obama’s incoming administration.

Posted on Nov 18, 2008 READ MORE


Cummings

Fun With Bailout Hearings: Know Your Treasury Chumps

It’s clear from this monologue by Rep. Elijah Cummings that, when he wonders aloud if Neel Kashkari is a “chump” for enabling companies like AIG to hand out huge executive bonuses while seeking federal bailout money, Cummings already knows the answer.

Posted on Nov 15, 2008 READ MORE


Paulson in negotiations
AP photo / Lauren Victoria Burke

Surprise! Paulson Sneaked $150B Bank ‘Windfall’ Into Bailout

Perhaps we should be more surprised than we are by the news that Treasury Secretary Henry Paulson and his DOT crew managed to sneak a handful of sentences into the approved bailout bill that amounted to a $150-billion “quiet windfall” for American banks, as The Washington Post put it.

Posted on Nov 10, 2008 READ MORE


Gingrich
abcnews.go.com

Gingrich: Bailout Plan ‘Un-American’

Treasury Secretary Henry Paulson certainly has his Democratic detractors, but they aren’t the only ones who have some serious doubts about his controversial $700-billion bailout plan. In an appearance on ABC’s “This Week With George Stephanopolous” on Sunday, former House Speaker Newt Gingrich blasted Paulson’s plan, calling it “un-American” and even opining that Paulson should have resigned.

Posted on Sep 28, 2008 READ MORE


Stewart

‘Daily Show’: Baron Von Moneypants

Treasury Secretary Henry Paulson’s proposed bailout carries a price tag of $700 billion, a staggering figure that CNN has helpfully translated into terms that every American can understand by consulting the McDonald’s (apple) pie chart.

Posted on Sep 24, 2008 READ MORE


Wall Street subway sign
Flickr / epicharmus

Markets Brace for More Turbulence After Monday’s Drops

President Bush and Treasury Secretary Henry M. Paulson Jr. attempted to head off mounting market woes and investor freak-outs at the pass on Monday as Wall Street suffered its worst losses since right after the Sept. 11, 2001, terrorist attacks.

Posted on Sep 15, 2008 READ MORE


Goldman Sachs CEO Nominated as Treasury Secretary

Finally, after months of hanging in the pink slip rumor mill, John Snow can move on.  The White House has named Henry M. Paulson as the newest Treasury secretary; here’s what we know according to the Washington Post and NYT:

  • He was reluctant to accept the job.
  • He worked in the Pentagon as a young man.
  • He “has been a Goldman Sachs executive since 1974, pulling down a compensation package in 2005 of $37 million.”
  • He is “a birdwatcher who can often be found in Central Park with his binoculars.”
  • Thank you mainstream media for your thorough profile of this very important man.

    Posted on May 30, 2006 READ MORE


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