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Henry Blodget/Opinion: AIG Revelations: Geithner Directly Responsible – He’s Got To Go (Tech Ticker)
The latest revelations about the New York Fed’s actions in the AIG bailout make one thing clear: Treasury Secretary Tim Geithner must go.
Geithner must go not just because of the emails showing that his New York Fed ordered AIG to keep details of the bailout secret, but because of many other decisions and policies he [...]
Interview: The President Discusses Life After ‘The Great Recession’
On April 14, President Obama gave a speech at Georgetown University, trying to explain why he was taking on so many economic issues so early in his administration. He argued that the country needed to break its bubble-and-bust cycle and cited the New Testament in calling for a new economic foundation for the nation. This [...]
Op-Ed – William D. Cohan: How Did Goldman Sachs Show A Profit & Did The Government Help?
AT its nadir last November, Goldman Sachs’s share price closed at $52, nearly 80 percent below its high of around $250. By then, many of its chief competitors — Bear Stearns, Lehman Brothers, Merrill Lynch and UBS — were dead or shadows of their former selves. Even Morgan Stanley, long considered Goldman’s archrival, had nearly [...]
TARP Will Cost Taxpayers More Than Estimated Says Congressional Budget Office
The Congressional Budget Office has quietly altered its estimate of the ultimate cost to taxpayers of the $700 billion Troubled Asset Relief Program, now figuring the initiative will be much more expensive in the long run than it previously figured.
Some TARP outlays eventually will be returned to the government as banks return capital the Treasury [...]
Opinion / Henry Blodget: The Question Tim Geithner Refuses To Answer
Tim Geithner did a good job on the Sunday talk-show circuit yesterday. He has survived his near-death experience of two weeks ago, and the betting odds that he’ll be ousted by June have fallen back to 10%.
But there’s one question he still refuses to answer. Why is he bailing out the people who lent trillions [...]
Opinion -Detroit Free Press: U.S. Can’t Run Auto Companies – Wagoner Resignation White House Theatrics
The risk was there from the start.
The federal money flowing to Detroit to help struggling automakers was always going to come with strings.
But there’s a fine line between holding General Motors Corp. and Chrysler LLC accountable for a pile of taxpayer cash and inappropriate government efforts to actually run the companies.
President Barack Obama’s Auto Task [...]
Obama Administration Gets Tough On GM – Tells CEO To Resign
His departure is at the request of the Obama administration, a government official says. The news comes on the eve of the president’s address on the future needs of automakers.
General Motors Corp. Chief Executive Rick Wagoner will step down after more than eight years running the largest U.S. automaker, people familiar with the situation said.
The [...]
Opinion – Ruben Navarrette: Obama Is Flunking Economics
Welcome to March Madness on the Potomac.
Many Americans are so emotionally invested in the Obama presidency that they consider it too historic to fail.
They won’t tolerate any criticism of the president or his administration, finding it easier to simply attack critics. And whatever goes wrong that they can’t defend or deflect, they just blame on [...]
Background Check: Treasury Secretary Timothy Geithner
In any other year, Timothy Geithner already would have spent a week at tennis camp in Florida, sharpening his skills and kicking back with a group of friends that includes the mentor who helped put him on the fast track to the top of the Treasury Department.
Instead, Barack Obama’s 47-year-old treasury secretary is in his [...]
Opinion/Margaret Carlson: Geithner Deals Wall Street a Can’t-Lose Hand
I feel like Rush Limbaugh now, because I really want certain people to fail: George W. Bush’s former economic adviser, Lawrence Lindsey, Nobel Prize-winning economists Paul Krugman and Columbia University Professor Joseph Stiglitz. All of them say the U.S. Treasury’s plan to buy troubled bank assets will lead to wrack and ruin. And when the [...]
