U.S. Treasury Secretary Timothy Geithner called the Republican debt plan not only "unworkable" but "harmful." In a letter to Sen. Pat Toomey (R., Pa.) on Feb. 3, Geithner said a proposal to prioritize paying interest on the national debt is not reasonable, likening it to a homeowner paying his mortgage but not his utility bills.
Since the uproar over improperly prepared foreclosure documents broke last fall, public reaction has been split among those who are sympathetic to the homeowners and those who, in the words of several bank officials I interviewed, think that borrowers in default are "deadbeats." In an interview with Black Enterprise magazine that came out this week, Treasury Secretary Tim Geithner comes out more in the first camp. He talks about how some people in foreclosure "were taken advantage of" and others who were "completely innocent victims."
The nation's most powerful financial regulators published a new blueprint Tuesday for how they will aim to keep banks from engaging in risky, speculative activity.
| January 18, 2011; 3:43 PM ET |
Categories: Federal Deposit Insurance Corp., Federal Reserve, Financial Stability Oversight Council, Regulation, U.S. Treasury
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It's always interesting to compare the Chinese state-run media's take on something with what the Western press reports. The official Chinese report from the government-run Xinhua had a completely different take on the speech. There was no mention of the yuan or intellectual property. Instead Xinhua lead with: "The economic relationship between the United States and China "provides tremendous benefits" to both nations, U.S. Treasury Secretary Tim Geithner said here on Wednesday."
U.S. Treasury Secretary Timothy Geithner walks to a basketball court prior to playing basketball with students in Beijing in May 2010. (Photo Credit: Nelson Ching/Bloomberg) With Chinese President Hu Jintao's state visit with President Obama less than a week...
treasury secretary timothy geithner warned republican lawmakers on thursday that the government will reach the legal limit on government borrowing as early as march 31,