— The author is a Reuters Breakingviews columnist. The opinions expressed are his own —
Financial Regulatory Forum
By Corbett B. Daly
WASHINGTON, Jan 5 (Reuters) – At a hearing last fall, U.S. Treasury Secretary Timothy Geithner told lawmakers that he and his team were working to put the $700 billion financial bailout fund “out of its misery.” But some in Washington now see a second, backdoor bailout in its place.
By David Lawder
WASHINGTON, Dec 9 (Reuters) – U.S. Treasury Secretary Timothy Geithner on Wednesday extended the government’s $700 billion financial bailout fund to October 2010, saying it was still needed for “significant challenges” in the economy.
By Kim Dixon
WASHINGTON, Dec 8 (Reuters) – The head of the tax-writing House of Representatives Ways and Means Committee will press Treasury Secretary Timothy Geithner this week to back a plan to cut corporate tax rates and pay for it by closing offshore tax loopholes.
By Huw Jones
ST ANDREWS, Scotland, Nov 7 (Reuters) – Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly.
By Kevin Drawbaugh
WASHINGTON, Oct 27 (Reuters) – The Obama administration made gains on Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.The systemic risk bill would grant vast powers to a new systemic risk regulatory council, the Federal Reserve and the Federal Deposit Insurance Corp to monitor and address risks to economic stability posed by shaky financial holding companies.
By Glenn Somerville
WASHINGTON, Oct 21 (Reuters) – The Obama administration appears to want to keep an inherited $700 billion financial rescue fund going past its scheduled expiry at year-end, but is retooling the program to focus on more than just banks.
By Karey Wutkowski
WASHINGTON, Oct 20 (Reuters) – The Obama administration is planning to send lawmakers a fresh, tougher proposal that would give the government more tools to wind down troubled financial firms and reduce the idea of “too big to fail,” U.S. Treasury Secretary Timothy Geithner said on Tuesday.
By Glenn Somerville and David Lawder
WASHINGTON, Oct 20 (Reuters) – The Obama administration will shutter programs at the heart of a $700 billion financial bailout but remains focused on supporting a fledgling economic recovery, Treasury Secretary Timothy Geithner said on Tuesday.
By Simon Rabinovitch and David Lawder
ISTANBUL, Oct 6 (Reuters) – The IMF needs to fix “intrinsic defects” in the world’s monetary system, China said on Tuesday as officials from around the globe wrestled with how best to ward off future financial crises.