In a Bloomberg interview late last week, now hosted over at the Huffington Post, Treasury Secretary Tim Geithner says that none of the big banks or Wall Street firms would have survived last year if the government had simply let the crisis run its course. Click on the image to go to the embedded video at HuffPost This is in contrast to claims made by Goldman chief Lloyd Blankfein in a Vanity...
Goldman Sachs fatcats were musing this week about how they might have been fine without a federal bailout, but Tim Geithner is having none of it: “None of them would have survived,” he tells Bloomberg , without federal intervention. “The entire US financial system and all the major firms in the...
Treasury Secretary Tim Geithner questioned Lloyd Blankfein’s claims made in a Vanity Fair article that Goldman Sachs (GS) could have survived the financial crisis on its own without government assistance. “None of them would have survived a situation in which we had let that fire try to...
Democracy Now’s Amy Goodman & Juan Gonzales had a really terrific interview today with Eliot Spitzer on why Bernie S&ers is right & Ben Bernanke should not be confirmed for anoar term as Federal Reserve Chairman & that Tim Geithner should be replaced as Treasury Secretary. One question Amy Goodman asked I found particularly interesting [...]
Democracy Now's Amy Goodman and Juan Gonzales had a really terrific interview today with Eliot Spitzer on why Bernie Sanders is right and Ben Bernanke should not be confirmed for another term as Federal Reserve Chairman and that Tim Geithner should be replaced as Treasury Secretary. One question Amy Goodman asked I found particularly interesting was this one along with Spitzer's answer: AMY...
Daily Intelligencer - New York Magazine (Free subscription) | 12/05/2009
... in which we had let that fire try to burn itself out." Okay, you think. From the pitch of Tim's voice and the redness in his ears, this is obviously getting to be a sore subject; perhaps this time Goldman Sachs will take stock of its situation, its robust health, its general awesomeness, and just let the little guy have this one by admitting defeat? Fat chance: "We didn’t know what...
It may be that Treasury Secretary Tim Geithner needs to take a revisionist’s view of history to support attacks on the large bonuses Goldman Sachs (NYSE:GS) is about to pay its top bankers. Geithner tells Bloomberg TV that among the US firms hit by the credit crisis “none of them would have survived a situation in which [...]
Liz Claman interviewed Tim Geithner yesterday about the job summit and this exchange caught my eye: GEITHNER: It’s not going to be one thing. It’s going to have to take a mix of different approaches. And you’re right to say that we have limited resources. And our job, as you heard the president say, is to [...]
... IS JUST GONNA SNAP. Taking aim at what he called "an era of irresponsibly high bonuses," Geithner said all banks -- even those that have repaid government aid -- need to restrain the amount they pay their leaders and tie compensation to long-term goals. The Treasury chief also disputed claims made by Goldman Chief Executive Officer Lloyd Blankfein that his firm would have survived...
One day and a better-than-expected jobs report makes all the difference as Treasury Secretary Tim Geithner sounded a lot crazier yesterday when, at about the 2:50 mark below, he disagreed with the idea that the U.S. dollar was going down. With Fed Chairman Ben Bernanke now facing surprising difficulty in getting confirmed for another four-year term, the calls for Geithner's resignation...
When Barack Obama came to office, it was in the middle of horrible financial turbulence, and it was his plan to continue on the bailout path started by his predecessor George W. Bush. So he picked an uncontroversial character who knew Wall Street and the bailouts inside and out: Tim Geithner. But less than a year later, with the crisis fading from memory, Geithner's fog-of-war decisions...
Senate Clears First Two Amendments to Healthcare Bill — baltimoresun.com But several advocates for the elderly, including the AARP, have rejected many of the GOP charges that the Senate healthcare bill would hurt seniors. The AARP opposed McCain’s proposal. “AARP believes that savings can be found in Medicare through smart, targeted changes aimed at improving health care [...]
Andrew Ross Sorkin’s Too Big to Fail sure is a page-turner; even for events that I already knew about in general, it’s full of new details and juicy quotations. For example, on page 508 it lays out the details of Warren Buffett’s October 2008 proposal for a “Public-Private Partnership Fund,” which would eventually become the PPIP announced by Tim Geithner in March 2009. I knew that Buffett,...
No, Democrats, the public has forgotten the irony that the man in charge of collecting our taxes repeatedly failed to pay all his taxes — despite warnings from his employer. It was only when Tim Geithner applied for the job of Treasury secretary did he pay some — not all [...]
