Shockingly poor financial management at General Motors and Chrysler weakened their case for a federal bailout, but officials feared letting them collapse, the former head of a government auto task force said Wednesday. ...more

October 21, 2009

WASHINGTON (AP) — President Barack Obama wants smaller community banks to have greater access to the government's $700 billion financial rescue fund as the administration refocuses the bailout money on small businesses and homeowners and winds down programs aimed at big banks. ...more

October 20, 2009

On his first trip to the Middle East, Treasury Secretary Timothy Geithner's message this week will be similar to the one he delivered to Chinese officials a month ago: your investments in the United States are safe. ...more

July 13, 2009

Even as China's state media slammed the country's massive U.S. debt purchases, U.S. Treasury Secretary Timothy Geithner said Tuesday that China's leaders believe in "the basic resilience and dynamism of the U.S. economy." ...more

June 3, 2009

President Barack Obama says the economy is starting to show "glimmers of hope." ...more

April 10, 2009

Both President Obama and Treasury Secretary Geithner say they take full responsibility for the AIG debacle although neither says what he has done wrong or what he would do to correct it. This may be a good sound bite but is meaningless. Actions speak louder than words. ...more

March 27, 2009

The Obama administration on Thursday unveiled a sweeping overhaul of the financial system designed to impose greater regulation on major players like hedge funds. ...more

March 26, 2009

Just a month or so ago, the stock market plunged because investors did not like Treasury Secretary Timothy F. Geithner's outline of a plan for removing toxic assets from bank balance sheets. This week, Mr. Geithner announced the details and - what do you know? - the market shot up. Obviously, the market's mood swings are not the best indicator of Mr. Geithner's merits or of his plan's. But what's new as of Monday is that we have a fuller basis for evaluating his program. And the best judgment is: It's worth a try, but hardly guaranteed to succeed. ...more

March 25, 2009

President Barack Obama claimed early progress Tuesday night in his aggressive campaign to lead the nation out of economic chaos and declared that despite obstacles ahead, "we're moving in the right direction." At the second prime-time news conference of his presidency, Obama also toned down his criticism of bonuses to executives at bailed-out AIG, and shot back at Republican critics of his budget. ...more

March 24, 2009

Pointing with dismay to the AIG debacle, the nation's top economic officials argued Tuesday for unprecedented powers to regulate and even take over financial goliaths whose collapse could imperil the entire economy. President Barack Obama agreed and said he hoped "it doesn't take too long to convince Congress." ...more

March 24, 2009