Conservatives say the Dodd Finance Bill means Wall Street Bailouts Forever. Progressives say the Dodd bill “makes bailouts impossible.” Who’s right? Well lets ask Treasury Secretary Timothy Geithner who described the bill this way in The Washington Post: The Senate bill gives the government the authority to wind down the …
There is no person more central to Washington’s bailouts of Wall Street than Treasury Secretary Timothy Geithner. As President of the Federal Reserve Bank of New York, he oversaw the federal bailout of Bear Stearns and under former Treasury Secretary Hank Paulson, Getihner designed the original bailout plan for the …
Secretary of State Clinton and Secretary of Treasury Geithner co-authored a Wall Street Journal op-ed today on the Strategic and Economic Dialogue (S&ED) with China. The op-ed suits the Dialogue perfectly: it seems to be an important piece of work but there’s actually little to it. The two Secretaries tell …
While America debates rising deficits, rising debt, and reckless spending bills, the mood in Washington is understandably sour. For the Americans fortunate to have jobs in this recession, there is still a sense of anxiety about what is around the economic corner. For their jobless friends and family, there is …
The federal government’s bailout parade wasn’t enough to save California this week. In a move that drew praise from some conservative quarters, President Obama refused to send federal aid to the Golden State. California had asked the Treasury Department to help with its $24 billion deficit. But rather than open …
Normally we’d be happy that IRS employees were feeling a bit frustrated. But this time we think they have every justification to be upset. The Chicago Tribune reports: The Treasury secretary, who oversees the IRS, didn’t pay all his taxes. Neither did five other top nominees for the Obama administration, …
Great question by Wall Street Journal editorial page assistant editor James Freeman today: The Obama administration wants to regulate venture capital firms to prevent systemic risks. Silicon Valley residents are scratching their heads and asking: What risks? The rest of us should ask why Washington is targeting a jewel of …
German Chancellor Angela Merkel, March 14, 2009: If we want to actually strengthen the effect of such [stimulus] packages you simply have to implement them and not talk about the next one before the first has actually taken effect. Bloomberg, March 26, 2009: Chancellor Angela Merkel is injecting 82 billion …
