U.S. lawmakers challenged Treasury Secretary Timothy Geithner’s credibility on Wednesday after he said he was not involved in a decision by bailed-out insurer AIG to withhold details about $62 billion paid to banks. Geithner held his ground at a hearing, …
U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made to banks. In his …
U.S. lawmakers moved Tuesday to force release of documents that may show whether the New York Federal Reserve pressured insurer AIG to limit discussions about payments to banks when current Treasury Secretary Geithner led the New York Fed. The Democrat …
The U.S. Treasury Department is pushing American International Group to cut big pay incentives it claims were needed to keep staff, but which have stoked a controversy over pay at taxpayer-supported firms. Treasury’s “pay czar” has informed AIG management that …
Wall Street faces curbs on risk taking and the prospect of lower profits under sweeping U.S. proposals to prevent a repeat of the credit crisis. The Obama administration’s plan to rewrite financial rules, announced Thursday, would create a single regulator …
The Obama administration Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts. U.S. Treasury Secretary Timothy Geithner, testifying before lawmakers still fuming about big bonuses for …
U.S. Treasury Secretary Timothy Geithner told an angry Congress on Tuesday that he needs authority to step in to shut down troubled institutions like American International Group to avoid future government bailouts. Geithner’s call for new authority to take over …
