Bethany McLean

Was Geithner ‘forceful’ on Libor?

By Bethany McLean
July 27, 2012

“Exceptional.” “Very forceful.” “Early.” Those are the words used by Treasury Secretary Tim Geithner recently to describe what he did in the spring of 2008 to address problems with the key interest rate known as Libor. During Geithner’s congressional testimony this week, New York Senator Charles Schumer called Geithner “proactive.” Not to be outdone, White House Press Secretary Jay Carney chimed in after Geithner’s testimony, calling what Geithner did “aggressive.” The key piece of what he did, of course, was to send a memo dated June 1, 2008 to Bank of England Governor Mervyn King suggesting changes to improve the credibility of Libor.

Should Goldman Sachs go out of business?

By Bethany McLean
July 9, 2012

Among those who believe that Goldman is basically the devil’s spawn, there’s of course only one answer to the above question: Yes! But there’s another group that seems to be asking the same question, and that’s investors.