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Wed, 06/08/2011 - 17:12 by Jamie Anderson
U.S. Treasury Secretary Timothy Geithner has urged bankers to adhere to the new financial regulations rather than asking the Congress to make these rules less stringent.
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Thu, 08/05/2010 - 10:27 by Rakhi
Washington -- The chairman of a U.S. financial trade group advisory committee has added his name to a growing list of those concerned deflation may be around the corner.
In a letter to U.S. Treasury Secretary Timothy Geithner, Mathew Zames, who heads the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association, said the economy has gone from "firmly transitioning to a self-sustaining expansion" in May to a new phase that centers on "sluggish personal outlays."
Manufacturing data "suggests moderation is under way," Zames said. In addition, gains in the service sector have been "meager," he said.
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Sat, 06/05/2010 - 11:19 by Pankaj Damin
Washington -- U.S. Treasury Secretary Timothy Geithner said the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. are next on his to-do list.
The struggling government-sponsored mortgage lenders, known as Fannie Mae and Freddie Mac, have been in government conservatorship and surviving with federal lines of credit since September 2008, having hemorrhaged huge losses during the subprime mortgage market meltdown.
In an interview, Geithner said the financial regulatory reform package, currently under review by a joint House and Senate committee, was his top priority for the moment. After that, Geithner said, "we're going to move on reform of Fannie and Freddie and the broader housing finance system."
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Fri, 05/28/2010 - 22:32 by Inderjit Singh
Frankfurt -- U.S. Treasury Secretary Timothy Geithner said there was broad agreement on both sides of the Atlantic on financial reforms, but he also noted differences.
"We are going to have slightly different approaches," Geithner said in Germany after meeting with Finance Minister Wolfgang Schauble.
Geithner is seeking a consensus on financial regulatory reform to take to the Group of 20 Nations meeting in Toronto in late June, The New York Times reported Friday.
There are concerns tighter regulations in one country will cause financial firms to move to another country if rules there are substantially more relaxed.
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Wed, 05/26/2010 - 11:34 by Rakhi
Beijing -- The current world economic recovery is in much stronger position than it had been in recent months, U.S. Treasury Secretary Timothy Geithner said.
Speaking to reporters Tuesday in Beijing at the end of the two-day China-U.S. Strategic and Economic Dialogues, Geithner pointed to "very encouraging signs" of stronger growth, both in China and the United States, that is "more broad-based," the U.S. State Department said on its Web site.
Geithner said the U.S. recovery is led by the private sector, while in China it is led by domestic demand.
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Tue, 04/06/2010 - 21:37 by Inderjit Singh
New Delhi -- U.S. Treasury Secretary Timothy Geithner reached out to India Tuesday in a visit to the subcontinent focused on economic cooperation.
"Our economic relationship presents huge opportunities for both India and the United States, and I look forward to working with you to realize the full potential of this partnership," Geithner said at a news conference in New Delhi, The Wall Street Journal reported.
Geithner met with Indian Finance Minister Pranab Mukherjee as part of a two-day visit he said comes as the U.S. economy is showing signs of growth after a lengthy recession.
"We meet at a time of encouraging prospects for the U.S. and Indian economies," he said.
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Tue, 04/06/2010 - 15:25 by Ishita Sood
On a two-day visit to India, Treasury Secretary Timothy F. Geithner highlighted the importance of new economic and financial partnership between the two countries.
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Thu, 01/28/2010 - 09:59 by shalini.bahadur
Washington -- U.S. Treasury Secretary Timothy Geithner defended his role in the TARP bailout program and the bailout itself during questioning by a House panel Wednesday.
Geithner, 48, told members of the House Oversight and Government Reform Committee the $700 billion Temporary Asset Relief Program was necessary to stop a meltdown of the financial system in 2008. He said the $182 billion injection of taxpayer cash into the faltering insurer American International Group Inc. was necessary to prevent the United States from plunging into a second Great Depression.
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Sat, 01/09/2010 - 09:57 by Rakhi Kaptiyal
Washington -- A MarketWatch editorial says U.S. Treasury Secretary Timothy Geithner's credibility was dinged by advising a bailed-out firm more than was previously known.
After months in which Geithner was thought to have avoided any role in advising American International Group what to disclose concerning credit default swap payments, e-mails collected by the House Oversight and Government Reform Committee "suggest that Geithner played an even more sinister role, pressuring AIG not to disclose," how CDS payments were to be handled, the editorial said.
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Thu, 11/12/2009 - 10:43 by Ishita Sood
Tokyo, November 12 -- Treasury Secretary Timothy Geithner said Wednesday that it is “very important” for the country’s economy to maintain a strong dollar to reduce its fiscal deficit.
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Fri, 10/30/2009 - 19:48 by Inderjit Singh
Washington -- Lawmakers and economists have expressed doubts about a major U.S. Treasury Department proposal to regulate future financial crisis.
Treasury Secretary Timothy Geithner outlined the proposals Thursday for the House Financial Services Committee. Soon after, Federal Deposit Insurance Corp. Chairwoman Sheila Barr criticized parts of the plan, saying an inter-agency council of regulators would not have enough authority to be effective, it should not be lead by the Treasury secretary and a fund to rescue failed firms should be "prefunded," rather than assessed after a firm fails, as the Treasury proposed.
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Thu, 10/29/2009 - 21:41 by Inderjit Singh
Washington -- U.S. Treasury Secretary Timothy Geithner told Washington lawmakers Thursday the next financial crisis must be handled without taxpayer assistance.
In the current crisis, abating as the economy improves, "the government was forced to step in and stand behind all of these firms. That cannot happen again," Geithner told members of the House Financial Services Committee.
New legislation proposed by the Treasury with assistance from Committee Chairman Barney Frank, D-Mass., seeks to create a regulatory system that could handle the collapse of even the largest financial firms without dipping into taxpayers' pockets, Geithner said.
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