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e88a343d0ff9121f6e4daf2efb670a0b1
2009-07-27 14:43:56

A real estate agent in Westchester County, N.Y., estimated that U.S. Treasury Secretary Timothy Geithner was losing money on a house he could not sell. Geithner and his wife, Carole, paid $1.602 million for the Tudor home in Mamaroneck, N.Y., in 2004 and put it on the market for $1.635 when he moved to Washington to lead the U.S. Treasury Department. The Geithners then reduced the asking price by $60,000 in May and settled for renting the home for $7,500 a month later in the month, ABC News...

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2009-07-24 17:40:00

U.S. Treasury Secretary Timothy Geithner, during a debate over plans to overhaul the U.S. regulatory system, urged Congress Friday to end dumb regulation. Geithner urged lawmakers to act quickly despite resistance to the Obama administration plan by the financial industry and other regulators, The Financial Times reported. He told the House Financial Services Committee every financial crisis of the last generation has sparked some effort at reform but it always came after the will to act had...

1ab7daaa2f709748ec99e470bb9263ff1
2009-07-14 14:42:46

The Obama administration is mulling whether to bail out a key small-business lender, a consideration analysts say underscores how fragile the U.S. economy is. CIT Group, with about $75 billion in assets, wasn't in the government's stress tests of major financial firms, but caught the administration's attention because of its focus on small-business lending, considered critical for the country's economic recovery, The Washington Post reported Tuesday. Administration officials met Monday to...

f2a3799e56d70ff172514ce6785e046f1
2009-07-13 16:21:29

U.S. Treasury Secretary Timothy Geithner said in London the U.S. and global economies are poised to make a recovery within the year. British Chancellor of the Exchequer Alistair Darling echoed Geithner's remarks, saying he was confident that our economy will see growth return at the end of the year. Geithner and Darling met in London to review policies in advance of the next Group of 20 summit meeting, which is scheduled for Pittsburgh in September. We have a very powerful set of policies in...

e916b1d66dee825bda98c2ca35d1c9811
2009-06-19 07:07:33

The Obama administration's 85-page regulatory reform proposal has run into a scatter shot of resistance from U.S. senators on Capital Hill. In a focused public hearing Thursday, Treasury Secretary Timothy Geithner faced members of the Senate Banking Committee, where Chairman Christopher Dodd, D-Conn., gave an initial endorsement that may prove prophetic. I believe that we can find common ground in a number of the areas contained in your proposal, Dodd said. But Senators from both sides of the...

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2009-06-18 14:33:14

U.S. senators questioned the wisdom of strengthening the Federal Reserve Thursday as Treasury Secretary Timothy Geithner pushed a plan for regulatory reform. Geithner said a new system was needed to prevent an accumulation of financial risk in a modern market place. Government supervision didn't prevent the emergence of large concentrations of risk, Geithner told members of the Senate Banking Committee. Chairman Christopher Dodd, D-Conn., said a Consumer Financial Protection Agency, one of...

eb204fbea8a556c3310f187f4766b2c71
2009-06-18 10:15:00

U.S. Treasury Secretary Timothy Geithner said a stronger regulatory system was needed to prevent an accumulation of financial risk in a modern market place. Government supervision didn't prevent the emergence of large concentrations of risk, Geithner told members of the Senate Banking Committee Thursday. New financial institutions and instruments "¦ were almost entirely outside the government's supervisory framework, (leaving) regulators largely blind to emerging dangers, he said. Our...

d00c2171da7c23235ff02a24e856aed31
2009-06-18 06:38:45

U.S. bankers and politicians reacted quickly to President Barack Obama's regulatory overhaul proposal, which reaches broadly across the financial spectrum. The 85-page proposal includes the formation of an oversight council, led by the treasury secretary, to help pinpoint regulatory gaps and provide sonar to identify companies where failure would threaten the financial system as a whole. Beyond the banks it oversees, the Federal Reserve would then look after other large firms that pose a risk...

2009-06-11 08:37:08

The U.S. Treasury has appointed Washington lawyer Kenneth Feinberg to the task of assigning executive pay levels at seven bailed out corporations. In a move meant to answer public anger over huge salaries and bonuses at U.S. companies propped up by billions of taxpayer dollars, the Treasury authorized Feinberg, who oversaw the effort to compensate families after the Sept. 11, 2001, terrorist attacks, to set pay for the top five executives and the 20 highest paid employees at American...

49ad6c08595d545b23eedfb15b09ea101
2009-06-04 07:50:00

U.S. Treasury Secretary Timothy Geithner is likely to lose money when he sells his Larchmont, N.Y. home, a real estate agent said. Geithner and his wife, Carole, put their five-bedroom Tudor home on the market in February, when they moved to Washington, D.C. Although the Geithners have dropped the asking price from $1.635 million to $1.575 million, the property is still unsold. Efforts to find a tenant to rent the home for $7,500 a month have also come up empty, CNNMoney.com reported...


Word of the Day
holluschickie
  • A 'bachelor seal'; a young male seal which is prevented from mating by its herd's older males (mated bulls defending their territory).
This comes from the Russian word for 'bachelors.'
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