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WASHINGTON — Treasury Secretary Timothy Geithner said Thursday that giving the government the power to dismantle mammoth financial firms like Lehman Brothers will prevent future bailouts. Full Article at Deseret News
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WASHINGTON — Treasury Secretary Timothy Geithner said Thursday that giving the government the "constrained power" to dissolve struggling, extensively interconnected financial firms would prevent future bailouts and protect the economy without putting... Full Article at Austin American-Statesman
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Treasury Secretary Timothy Geithner speaks says the legislation will not lead to propped-up firms. Full Article at USA Today
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via The Associated Press: WASHINGTON – A year after Lehman Brothers collapsed, helping to trigger the worst financial crisis in seven decades, the Obama administration is pressing Congress for the power to dismantle other nonbank firms considered so... Full Article at Town Hall
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Treasury Secretary Timothy Geithner says the government's ability to dismantle mammoth financial institutions like Lehman Brothers and American International Group, when necessary, won't lead to future bailouts. Full Article at ABC News
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The proposal places taxpayers first in line to bear the losses when the government invokes its resolution authority ... And for those who believe that those taxpayer losses would be recouped from surviving firms, I would direct their attention to the recent examples of GM, Chrysler, Fannie Mae, Freddie ...
– Spencer Bachus SOURCE: Deseret News -
If our fund is strong and a major nonbank fails, there will be a strong temptation to unfairly raid the bank FDIC fund to pay for it
SOURCE: Deseret News -
We must build a system in which individual firms, no matter how large or important, can fail without risking catastrophic damage to the economy
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The only authority we would have would be to manage their failure
