Forget billions. It's now about trillions.
February 10th, 2009 | Agencies Congress Treasury | Posted by Rebecca Neal
We bring you House Majority Leader Steny Hoyer’s take on the new $1.5 trillion financial rescue program unveiled today by Treasury Secretary Timothy Geithner.
“What an era in which we live where a serious question can be asked whether $1.5 trillion is enough,” he said Tuesday after a reporter asked if $1.5 trillion would solve our economic woes.
Tracking the transition: Geithner to head Treasury
November 21st, 2008 | Transition Treasury | Posted by Steve Losey
NBC News today reported that Timothy Geithner, president of the Federal Reserve Bank of New York, will likely be Barack Obama’s Treasury Secretary. Along with current Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, Geithner has been a central figure in formulating the government’s response to the recent economic turmoil.
The choice of Geithner may have boosted confidence on Wall Street. In the last hour of trading, stocks shot up and the Dow Jones Industrial Average was up nearly 500 points at its close.
The Washington Post has this to say about Geithner:
Geithner, who is 47, is most closely aligned with Clinton-era economics, having previously worked at Treasury under Clinton secretaries Bob Rubin and Larry Summers.
But he is thought of as an economic centrist. [...] Prior to Treasury, Geithner worked at the IMF and with Henry Kissinger at his consulting firm.
Tags: Barack Obama, Timothy Geithner, Treasury