Timothy Geithner

The Great Geithner: Ex-Treasury Secretary Gets Bailout Book Deal

The former Treasury Secretary has an agreement with Crown Publishers, an imprint of Random House, Inc. Crown announced Thursday that Geithner's book, currently untitled, is scheduled for 2014 and will provide a "behind-the-scenes" account of the financial crisis.

Secretary of Scribble: Is Jack Lew About to Doodle on Your Dollars?

Because President Barack Obama intends to tap Jack Lew to replace Treasury Secretary Timothy F. Geithner, your money might soon start looking a little goofy. If confirmed to head the Treasury, Lew will get to add his unusually squiggly signature to all newly printed greenbacks.

U.S. Hits Borrowing Limit, Moves to Avoid Default

The U.S. government is running up against its $16.4 trillion borrowing limit and is taking steps to avoid default. Reaching the limit Monday sets up another dispute between the White House and Congress over taxes and spending in the new year.

Fiscal Cliff Pop Quiz: Fun Facts from the Economic Apocalypse

On Jan. 1, 2013, the United States will fall over off the fiscal cliff -- unless Congress and the president ink a deal to avert the crisis. If you think you know all about the forthcoming economic apocalypse -- or if you're just wondering what all the fuss is about -- check out our quiz and see.

Ups and Downs: Stock Gains Dented by Twists in Fiscal Cliff Talks

An early gain on the stock market shrank after House Speaker John Boehner said little progress was being made in budget talks. The DJIA had been up as much as 77 points Thursday, then briefly turned negative after Boehner's remarks at 11:30 a.m. But markets rapidly headed back into positive territory again.

Stock Futures Moving Higher as Budget Talks Proceed

U.S. stock futures are moving higher on optimism over a deal on the U.S. budget ahead of a high-level meeting between the Treasury chief and Senate leaders, as well as improving unemployment and economic growth numbers.

Government Bars Fannie-Freddie from Reducing Principal

A federal regulator is standing by its decision to bar Fannie Mae and Freddie Mac from reducing principal for borrowers at risk of foreclosure, resisting pressure from the Obama administration. The Federal Housing Finance Agency announced the decision Tuesday after months of considering the option.

Obama Plan Closes Some Loopholes, Opens Others

Cutting corporate tax rates and the deleting loopholes that let some companies pay little or nothing in taxes is just what most economists prescribe for the tangled U.S. tax code. So why isn't everyone cheering the plan President Obama unveiled Tuesday to do just that?

Why You Should Care
About the Volcker Rule

This week, the government took a big first step toward shutting down the Can't Lose Room in the Wall Street Casino. It's now one comment period away from enacting the Volcker Rule, which limits the kinds of risky investments banks can make with money insured by the U.S. taxpayer.

7 Possible Replacements for Timothy Geithner

News reports said Treasury Secretary Geithner wanted to leave his post once debt negotiations were complete. With that milestone past, speculation now turns toward potential successors. The stakes are high, with unemployment at 9.2% and partisan theatrics as melodramatic as ever. Here are seven candidates that the president might do well to consider.

The Financial Landscape: Geithner Gossip Groundless

Citing unnamed sources, news outlets reported Thursday evening that Treasury Secretary Timothy Geithner might leave the Obama administration soon. In response to the rumors, Geithner insisted, "I live for this work.... I'm going to be doing it for the foreseeable future."

Financial Landscape: Banks Get No Love; OPEC Vs. OPEC

As a new week begins on Wall Street, nobody wants bank stocks, J.P. Morgan Chase hints at changes at the top, OPEC ministers tussle over crude, and airlines are in for some financial turbulence. In fact, the only good news is for France, which apparently won't lose the IMF over the DSK scandal.

Foreclosure Mess Settlement Proposal Is No Fix at All

State attorneys general and federal regulators are rushing to settle the robo-signing foreclosure mess created by the banks and get the real estate market back on its feet. But their proposals don't fully address the one of the fundamental problems of the crisis: Who really owns all those homes?

Obama's Mortgage Reforms: Higher Standards -- and Costs

The administration's proposed revamp of Fannie Mae and Freddie Mac is actually an offering of multiple policy options, essentially passing the political hot potato to the Republicans. Problem is, any fix is sure to make mortgages costlier, with potential harm to the housing market.

The Higher the Debt Ceiling, the Deeper the Hole

When some new members of Congress recently declared their resistance to raising the nation's debt limit, it triggered warnings of "catastrophic consequences." Problem is, the higher this ceiling gets, the deeper the hole that the U.S. is digging itself into.

Treasury Secretary Geithner Hospitalized with Kidney Stones

U.S. Treasury Secretary Timothy Geithner was hospitalized Friday to undergo surgery for kidney stones, according to a MarketWatch report. Geithner, who was admitted into George Washington University hospital this morning, is expected to undergo surgery later today.

The G-20: Sound and Fury Signify Something in Seoul

On the eve of an economic summit in South Korea, disturbing signs of discord are emerging over currency valuations and trade between the U.S. and its major trading partners. Failure to achieve an agreement could set off more "currency wars."

GM Says Employees Can Buy IPO Shares

General Motors is offering some 600,000 employees, retirees and dealers the chance to purchase stock in the resurgent company as the auto giant moves forward with its initial public offering, slated for next month.

Why Easing the Threat of Currency War Is So Difficult

Investors take note: Despite the calls for order, national policymakers are dealing with an increasingly haphazard scenario loaded with counterproductive results and unintended consequences. The result could be a slide toward protectionism.

Yuan Hits High Vs. the Dollar as China Nudges Exchange Peg

The Chinese yuan hit a post-revaluation high against the dollar Monday after the People's Bank of China set the yuan's reference rate for trading at its highest level since the central bank began publishing the daily fix in 1994. The yuan can rise or fall 0.5% each day from the reference point.

Fixing Fannie and Freddie:
The Debate Begins

The Obama administration acknowledged Tuesday that major changes must be made to mortgage giants Fannie Mae and Freddie Mac, but indicated that it supports continuing government guarantees in the mortgage sector. But is that a good idea?

It's Official: Social Security System Now in the Red

It finally happened: The nation's Social Security system will pay out more than it takes in this year and next, as aging baby boomers begin entering retirement. On the plus side, health care reform should keep Medicare solvent for an extra 12 years.

Do Fannie and Freddie Have a Future?

The future of the government-backed mortgage finance giants Fannie Mae and Freddie Mac, which critics have accused of exacerbating the meltdown in the U.S. housing market, will be discussed next month at a conference sponsored by the U.S. Department of Treasury.

Geithner: Bush Tax Cuts for Wealthiest Should Be Allowed to Expire

Treasury Secretary Timothy Geithner said the Bush-era tax cuts for the wealthiest Americans should be allowed to expire this year in order to narrow the federal government%u2019s deficit. Speaking on two TV programs Sunday, Geithner said letting the tax cuts for those making $250,000 a year or more expire would demonstrate the country%u2019s commitment to controlling the deficit, The New York Times reported. He said that the tax increase would not affect economic growth.

Obama Signs Financial Reform Legislation Into Law

After more than a year of wrangling by Congress to craft legislation, President Obama signed the Wall Street and Consumer Protection Act into law Wednesday at ceremony in Washington. The new regulations are viewed by many analysts as the most sweeping reforms to hit the financial industry in more than half a century.