The Great Debate

Don’t give the Fed a new job

July 16, 2009

williams_mark— Mark T. Williams, a former Federal Reserve Bank examiner, teaches finance at Boston University‚Äôs School of Management and is writing a book on the rise and fall of Lehman Brothers. The views expressed are his own. —

Tarp Two: New deal or no deal?

February 10, 2009

Treasury Secretary Timothy Geithner speaks during a news conference in the Cash Room of the Treasury Department in Washington, February 10, 2009.

The U.S. Treasury Department on Tuesday unveiled a revamped financial rescue plan to cleanse up to $500 billion in spoiled assets from banks’ books and support $1 trillion in new lending through an expanded Federal Reserve program. But initial market reaction reflected investors’ doubts about the plan, with stocks falling around 3 percent after the announcement by Treasury Secretary Timothy Geithner.