Treasury Secretary

Paulson on BofA/Merrill Deal: I Have No Recollection, Senator

Former Treasury Secretary Henry Paulson gave his testimony on the BofA/Merrill deal to the House Committee on Oversight & Government Reform this morning, and he’s still being cross-examined now, a couple of hours later. Watching it, the only thing that comes to mind is a little lesson from the movie Clear & Present Danger. In

Geithner Sworn In As Treasury Secretary, Vows Quick Action

Tim Geithner was sworn in as Treasury Secretary this afternoon. According to CNBC: “We are at a moment of maximum challenge for our economy and our country,” Geithner said at a swearing-in ceremony as he stood by the President Barack Obama’s side. “Our agenda is to move quickly to help you do what the country

Volcker Says Banks Need $3t, Geithner Confirmation Thursday

Treasury Secretary nominee Tim Geithner is in confirmation hearings today with a vote set for tomorrow to see if he will be confirmed as Treasury Secretary. The big issue is that Geithner was late on $34,000 in self-prepared taxes. Thankfully lawmakers know the bigger issues are billions in market losses, and as former Fed chairman

Warsh Won’t Succeed Geithner At Fed. Dudley Now Top Pick.

Kevin Warsh, the 38-year-old Fed governor and former M&A executive at Morgan Stanley, was thought to be the lead contender to succeed Tim Geithner as the head of the New York Fed when Geithner takes over as Treasury Secretary under President Obama. But now the number two speculative pick, former Goldman Sachs economist William Dudley,

Robert Rubin’s Legacy After GS, Treasury, Citi

Years ago when I was working for UBS, I read this book on Goldman Sachs, because I wanted to see how their culture had evolved up to the IPO stage—the book came out the same year as their IPO. Our company had been a private partnership (Brinson Partners) that sold to UBS a few years

Fox Business Sues Treasury For Failing To Disclose Bailout Fund Usage

Fox Business News launched in October 2007, two months after the financial crisis began, with lowbrow programming like their market wrap show Happy Hour which takes place in a bar and features segments like Quick Shots where they offer stock picks. To some, it lacks financial credibility but to Fox it brings the broadest possible

JP Morgan Chase Says It’s Lending TARP Money

JP Morgan Chase received $25 billion from the Treasury’s Troubled Asset Relief Program, and CEO Jamie Dimon told CNBC today, that while they didn’t need it, they are lending it. Treasury called for banks to re-deploy TARP assets, saying it was the only way for the program to work. But if they’re giving money to