Bloomberg: Geithner's 'the Guy I Would Want'

Frank: Let's sue AIG; Gregg: Congress unruly

By Wesley Oliver, Newser Staff

Posted Mar 22, 2009 11:17 AM CDT

(Newser) – Amidst calls for his ouster, Timothy Geithner can bank on big name supporters: Arnold Schwarzenegger told NBC’s Meet the Press he has confidence in the embattled Treasury secretary, while Michael Bloomberg added that Geithner “is exactly the guy that I would want.” On Fox News Sunday, Christina Romer called demands for Geithner’s dismissal “really silly.”

AIG rage boomed across the Sunday talk show landscape today:

Bloomberg advised leaders to stop fixating over the scandal's "publicity issues" and focus on improving liquidity, lending, and spending in the markets.
Barney Frank suggested on CBS's Face the Nation that Washington sue AIG to recover its money.
On CNN's State of the Union, Judd Gregg accused Congress of "grabbing its pitchforks and charging up the hill and abusing what is a core authority of government: the authority to tax its people."
Susan Collins told ABC's This Week she was wary of the House's "clawback" bill to recoup the bonuses. "I've got my doubts whether that's the best way to do this," she said.
Despite all the rancor, Joe Biden's chief economic adviser said President Obama "has not said he won't sign that bill."

[Images (3)]

[Videos (1)]

[Quotes (1)]

Treasury Secretary Timothy Geithner makes remarks to small business owners. (AP Photo/Ron Edmonds, File)

In this Wednesday, Feb. 18, 2009 picture, New York Mayor Michael Bloomberg discusses his initiative to support the city's financial services sector and encourage entrepreneurship at a news conference... (AP Photo/Henny Ray Abrams)

In this photograph provided by "Meet the Press," New York City Mayor Michael Bloomberg appears on "Meet the Press'" Sunday, Sept. 21, 2008, at the NBC studios in Washington. (AP Photo/Meet The Press, Alex Wong)

« Prev« Prev | Next »Next » Slideshow

Michael Bloomberg and Arnold Schwarzenegger defend Timothy Geithner on NBC's "Meet the Press." (MSNBC)

View larger videos >>

« Prev« Prev | Next »Next »

Tim Geithner is exactly the guy that I would want there. He's smart. He is a workaholic. He's been part of the financial system for a long time. He understands how things work, how markets work, how people react. - Michael Bloomberg

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

Schwarzenegger and Pals: Our Infrastructure Is Embarrassing

Bloomberg, Rendell, and Governator all want us to improve transportation

(NEWSER) - Arnold Schwarzenneger, Ed Rendell, and Michael Bloomberg teamed up on an op-ed piece in Politico today, arguing that the nation needs to invest heavily in transportation. “Our nation’s infrastructure has been neglected for too long,” the trio writes. They tout the many construction projects and state-of-the-art high-speed trains Schwarzenneger saw on his trip to Europe, then lament, “Here in America we have nothing like that. We continue to rely on the antiquated infrastructure our parents’ generation built.” More»

Obama Eyes Bloomberg as Treasury Secretary

Prez wooing New York City mayor, say sources

(NEWSER) - President Obama might be looking to replace oft-criticized Treasury Secretary Timothy Geithner…with Mayor Michael Bloomberg. (This particular political rumor courtesy of the New York Post ’s Page Six, so take it with a grain or two of salt.) “Obama's looking to do something bold and credible before the election,” a source says. Adding credence to the rumor: The four-hour golf game the two played on Martha’s Vineyard, during which Bloomberg says they discussed the economy. More»

House Grills Geithner on AIG

Treasury Secretary defends big bailout as necessary

(NEWSER) - Timothy Geithner defended the AIG bailout he helped engineer today, in testimony before a House Oversight Committee that was out for blood. “In effect, the taxpayers were propping up the hollow shell of AIG,” declared chairman Edolphus Towns, “and the rest of Wall Street came by and looted the corpse.” Geithner protested that though the decision to rescue the insurance giant was “exceptionally difficult” it had prevented a “second Great Depression.” More»

Fed Duo Sounded Alarm Over AIG 'Gifts' to Banks

Geithner, Paulson face grilling over 'backdoor bailouts' for AIG clients

(NEWSER) - Two Federal Reserve governors expressed their unease about the Fed's rejection of a plan to force big banks to return $30 billion in cash they received from AIG before its bailout in late 2008. The officials warned that the decision to let the banks, including Goldman Sachs, keep the collateral they paid AIG on credit insurance contracts might be "a gift" to the firms, according to documents obtained by the New York Times. More»

Geithner Will Testify on Secretive Bailout Deals

House committee wants answers on his role on AIG contracts

(AP) - Treasury Secretary Timothy Geithner will testify Jan. 27 before a House probe into his role in deals that sent billions of bailout dollars to Goldman Sachs and other big banks. The committee wants to know why the Federal Reserve Bank of New York—which Geithner headed at the time—paid banks to cancel contracts with AIG and didn't demand concessions. The deals might have cost taxpayers billions more than necessary. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Bloomberg: Geithner's 'the Guy I Would Want'