The toxic assets plan Tim Geithner previewed a month ago finally got fleshed out and rolled out today. Wall Street responded with a more than 400 point rally signaling that investors now feel the Obama administration is on the right track when it comes to healing the wounded banking industry. Public Private Investment Program - [...]

The Senate confirmed Timothy Geithner for US Treasury Secretary in a bumpy but virtual “rubber stamp” confirmation. Mr. Geithner had unpaid income taxes from his time at the IMF and some other irregularities with a former nanny to overcome. With the Obama warmth radiating over Mr. Geithner, these otherwise serious oversights, proved to be no [...]

U.S. Senator Jim Bunning, R-Ky., today spoke the truth about Treasury Secretary-designate Timothy Geithner in Senate confirmation hearings that it seems are really more a formality when it comes to Mr. Geithner. Brave Senator Jim Bunning Pulls No Punches At today’s confirmation hearings before the Senate Finance Committee, Senator Bunning said Geithner’s tax problems were [...]

Timothy Geithner, president, Federal Reserve Bank of New York, was named President-elect Obama’s pick to run Paulson’s recreation of the “all-powerful” Treasury Department. Geithner will inherit more power than any other Cabinet post in my opinion and yet he is the least experienced. Obama Picks a Clone To Run Treasury Obama and Geithner have a [...]

US Treasury Secretary, Hank Paulson, announced a few minutes ago the plan to takeover the mortgage giants, Fannie Mae and Freddie Mac. Paulson laid out the goals, and FHFA Secretary, Jim Lockhart, discussed the actions taken. US Treasury Goals Paulson started the press conference by laying out the goals of the bailout as follows: 1. [...]

Treasury Secretary Hank Paulson in a speech today speculates a correction in dropping home prices is only months away. Paulson believes the worst will be behind us “in months rather than years”. Home Inventories Secretary Paulson laid his reasons why he thinks housing price drops will be over soon. He states home inventories of 10 [...]