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Treasury Secretary Timothy Geithner speaks says the legislation will not lead to propped-up firms. Full Article at USA Today
Related Articles
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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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Oct. 29 (Bloomberg) -- President Barack Obama’s proposal to police companies for systemic risk and shift the cost for failure to the financial industry faced opposition as lawmakers said the plan would keep the burden on taxpayers in a crisis. Full Article at Bloomberg.com
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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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WASHINGTON - 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 Atlanta Journal Constitution Vendor
Related Quotes
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The fund should be set up just in case their behavior — their reckless, dangerous and risky behavior — raises its ugly head again
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If our fund is strong and a major non-bank fails, there will be a strong temptation to unfairly raid the bank FDIC fund to pay for it
SOURCE: USA Today -
Without the ability for the government to step in, manage the failure of a large firm and contain the risk of a fire spreading, we are resigned to repeat the experience of last fall
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The only authority we would have would be to manage their failure
