Treasury Secretary Timothy Geithner told congressional leaders that the Troubled Asset Relief Program will continue until October. The move allows the Obama administration to use unspent TARP money for other initiatives, including job creation, improved access to credit for small businesses and more help for homeowners facing foreclosure.
Posts Tagged ‘Treasury Secretary’
U.S. criticizes U.K. proposal to tax financial transactions
November 9th, 2009 
Before You Invest Treasury Secretary Timothy Geithner voiced disapproval with a proposal from U.K. Prime Minister Gordon Brown for a tax on financial transactions. Geithner said he would not support the tax but appeared to soften his stance later, saying the International Monetary Fund would be responsible for coming up with possibilities.
Posted in Finance Fraud 
Tags: Borders, Contingent Capital, Finance Minister, Financial Transaction, Financial Transactions, Gordon Brown, Imf, Insurance Fee, International Monetary Fund, Levy, Mr Brown, Opponents, Possibilities, Prime Minister Gordon Brown, Proposal, Proposals, Systemic Risk, Treasury Secretary, Voiced Disapproval, Volatility 
No Comments »Geithner, Brown Split on Tobin Tax at G-20 Meeting
November 9th, 2009 Before You Invest (Bloomberg) — Group of 20 governments split on whether to tax financial trading as part of a broader strategy to ensure the global economy’s expansion is less crisis-prone.
U.K. Prime Minister Gordon Brown told a meeting of finance chiefs in St. Andrews, Scotland yesterday that such a levy could prevent excessive risk taking and fund future bank rescues, adding momentum to a debate begun by France.
Posted in Finance Fraud Tags: Amp, Apps, Banking System, Excessive Risk, Finance Chiefs, Financial Crisis, Global Economy, Gordon Brown, Great Depression, Levy, Momentum, Pid, Prime Minister Gordon Brown, Risk Taking, Speculation, St Andrews Scotland, Timothy Geithner, Tobin Tax, Treasury Secretary, U S Treasury No Comments »Timothy Geithner aides paid millions by Wall Street firms
October 14th, 2009 Before You Invest Timothy Geithner’s aides have been paid millions of dollars by a variety of Wall Street firms, including Goldman Sachs and Citigroup, according to financial disclosure forms.
The treasury secretary has been tasked with cleaning up Wall Street but it has emerged his key advisors have been earning money from the institutions they are helping to regulate.
Aide Lee Sachs took more than $3 million in partnership income and salary from New York hedge fund Mariner Investment Group, while advisor Gene Sperling was paid almost $900,000 by Goldman Sachs last year, reports Bloomberg.
Mr Sperling was also paid more than $150,000 for a variety of speeches he gave to different financial institutions, including the firm run by alleged fraudster Allen Stanford.
Last week, a Freedom of Information request revealed that Mr Geithner has been taking calls from top Wall Street figures before meetings with members of Congress and after meeting with Barack Obama.
The investigation by the Associated Press revealed that Mr Geithner has had more contact with Citigroup than with Barney Frank, the congressman in charge of promoting Mr Geithner’s plan to overhaul the regulatory system.
Posted in Finance Fraud Tags: Barack Obama, Barney Frank, Citigroup, Different Financial Institutions, Disclosure Forms, Earning Money, Financial Disclosure, Fraudster, Freedom Of Information, Freedom Of Information Request, Gene Sperling, Goldman Sachs, Hedge Fund, Investment Group, Lee Sachs, Members Of Congress, Partnership Income, Regulatory System, Timothy Geithner, Treasury Secretary No Comments »This Day in Wall Street History 1789: First Treasury secretary is named
September 11th, 2009 Before You Invest With the nation in need of a strong financial leader, President George Washington asked stalwart Federalist Alexander Hamilton to step in as the first secretary of the Treasury. The move came a week after the official founding of the Treasury Department.
Hamilton was Washington’s aide-de-camp during the American Revolution, and was instrumental in the formation of the U.S.
Posted in Finance Fraud Tags: Alexander Hamilton, American Revolution, Conservative Property, Federalist, Financial Leader, First Secretary Of The Treasury, George Washington, History 1789, Idealist, President George Washington, Secretary Of State, Secretary Of The Treasury, Source History, State Thomas, States Rights, Thomas Jefferson, Treasury Department, Treasury Secretary, U S Constitution, Wall Street History No Comments »Geithner presses Congress for rules on derivatives market
July 10th, 2009 Before You Invest Treasury Secretary Timothy Geithner is seeking laws for the $592 trillion derivatives market. Geithner is set to testify before a joint hearing of the House Agriculture and Financial Services committees to call for requiring all “standardized” contracts to be traded on exchanges or other regulated platforms. Disclosure rules also would apply to the derivatives contracts, Geithner said.
more at
Posted in Finance Fraud Tags: Agriculture, Amp, Committees, Congress, Contracts, Derivatives Market, Disclosure Rules, Financial Services, Pid, Platforms, Sid, Timothy Geithner, Treasury Secretary, Trillion No Comments »Geithner reportedly abandons push to merge SEC, CFTC
June 7th, 2009 Before You Invest Treasury Secretary Timothy Geithner convinced lawmakers at a dinner that he will not push for a merger of the Commodity Futures Trading Commission and the Securities and Exchange Commission, sources said. The proposal already faces opposition in Congress, with Barney Frank, chairman of the House Financial Services Committee, saying resistance from “entrenched interests” makes the move impossible.
more at
Posted in Finance Fraud Tags: Amp, Apps, Barney Frank, Cftc, Commodity Futures Trading, Commodity Futures Trading Commission, Congress, Financial Services Committee, Futures Trading Commission, House Financial Services Committee, Lawmakers, Merger, Opposition, Pid, Proposal, Resistance, Sec, Securities And Exchange, Securities And Exchange Commission, Sid, Treasury Secretary No Comments »This Day in Wall Street History 1792: Minting the Mint
April 2nd, 2009 Before You Invest In drafting the United States Constitution, the Founding Fathers explicitly handed legislators in the House of Representatives the “(P)ower…To Coin Money.” This mandate was borne of an understanding that the new nation would require a stable and respected currency. Treasury Secretary Alexander Hamilton took up the cause of creating a fiscal system, and set about developing plans for a national mint.
Posted in Finance Fraud Tags: Alexander Hamilton, Astronomer, Coinage Act, Copper Coins, Currency System, David Rittenhouse, Fiscal System, Founding Fathers, George Washington, Gold And Silver, Inaugural Director, Initial Issues, Legislators, Mandate, Mathematician, National Mint, President George Washington, Treasury Secretary, United States Constitution, Wall Street History No Comments »U.S. spending against crisis almost as much as GDP
April 2nd, 2009 Before You Invest The government and the Federal Reserve have guaranteed, spent or lent $12.8 trillion to curb the economic downturn and stabilize the banking system. In comparison, the country’s GDP was $14.2 trillion last year. President Barack Obama and Treasury Secretary Timothy Geithner met Friday with leaders of the nation’s largest banks as well as industry representatives to garner their support.
