Geithner Gets Warmer Reception at G-8 Summit

Treasury secretary says he's sick of the criticism, mad at Wall Street

(NEWSER) - Timothy Geithner is often seen as the cool, calculating co-architect of various bailouts, and a friend to Wall Street, but that image is all wrong, he insists. “I am incredibly angry at what happened to our country,” he says. In an affable interview with Vogue —he begins by saying his friends will give him “shit” for talking to the fashion mag—Geithner says he’s actually a hot-tempered public servant, immune to the charms of fame or money. More»

Execs dreaming if they think they wouldn't have failed

(NEWSER) - Goldman Sachs fatcats were musing this week about how they might have been fine without a federal bailout, but Tim Geithner is having none of it: “None of them would have survived,” he tells Bloomberg , without federal intervention. “The entire US financial system and all the major firms in the country, and even small banks across the country, were at that moment at the middle of a classic run, a classic bank run.” More»

(NEWSER) - The return of hefty profits on Wall Street doesn't mean that banks are returning to previous bad behavior, Tim Geithner insists. In an interview with the Wall Street Journal, the Treasury secretary says the big banks are safer now because "they're running with much less leverage," greater liquidity, and healthier balance sheets. "The weakest parts of the system don't exist anymore." More»

Treasury sec reluctant to free Goldman, others from constraints

(NEWSER) - Tim Geithner is warning Wall Street that he will consider more than banks' individual financial fitness when deciding whether they can pay back bailout funds—and escape from the strings attached to them. In an interview with the Wall Street Journal, the Treasury secretary says that the whole banking system, and in turn the wider economy, has to be considered before he'd allow Goldman Sachs, JPMorgan Chase, and others to pay back their debts. More»

Confident Treasury chief expects 'global stimulus' plan

(NEWSER) - Treasury chief Tim Geithner made time in London for a series of TV interviews in which he expressed confidence that the global economy has turned the corner. He told Bloomberg that he sees "encouraging signs" of recovery and said policy makers at the G20 summit will make sure the trend continues. “I’ve never seen this much support around the world," he said. More»