NEWS ABOUT: Treasury secretary

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Bill Clinton Had Unusual CEO Advice for Geithner

Slitting Lloyd Blankfein's throat wouldn't help in the long run, said former president

(Newser) - The New York Times magazine has a lengthy profile of Tim Geithner ahead of Monday's release of the former Treasury chief's new book, and one bit in particular involving Bill Clinton is getting a lot of attention. Geithner had asked Clinton's advice on appeasing populist anger in... More »

Jack Lew: US About to Default on Its Debt

Treasury secretary asks Congress to extend the debt limit

(Newser) - US Treasury Secretary Jack Lew sent a message to Congress today: To wit, we need more money, and fast. Lew warned lawmakers that they'd better raise the country's borrowing limit before the current debt-limit suspension expires on Friday and reinstates a $16.7 trillion cap, the BBC reports.... More »

Geithner Headed to Wall Street

Named president of private equity firm

(Newser) - Former Treasury Secretary Timothy Geithner, who played a central role in the government's response to the financial crisis of 2008-2009, is joining private equity firm Warburg Pincus LLC. The New York-based firm announced today that Geithner will serve as its president and managing director starting March 1. The company... More »

Lew on Debt Ceiling Showdown: Never Again

'Cannot take a risk with the full faith and credit'

(Newser) - For lawmakers who might be getting used to last-minute debt ceiling showdowns, the country's Treasury secretary has a message: Not so fast, sunshine. "The message that we have to send going forward is that there was a turning point on Wednesday night and this won't happen again,... More »

Jack Lew Working Hard to Keep This Off Our Dollar Bills

Treasury secretary's signature showing signs of improvement

(Newser) - Treasury Secretary Jacob Lew's loopy signature is showing signs of improvement as he gets ready to affix his "Jacob Lew" to the nation's currency. President Obama joked in January when he nominated Lew for the Treasury post that he had never noticed before how illegible Lew's... More »

Senate Confirms Jack Lew to Be Treasury Chief

He succeeds Geithner, has pretty cool signature

(Newser) - The Senate confirmed Jacob ("Jack") Lew to be Treasury secretary, affirming President Obama's choice of a budget expert at a time when Congress and the White House are at odds over sharp government spending cuts. The Senate voted 71-26 to support the nomination. Lew, 57, who had... More »

Senate Panel OKs Jack Lew

Treasury nominee now heads to full Senate

(Newser) - The Senate Finance Committee has given Jack Lew its stamp of approval, pushing forward his semi-contentious nomination as secretary of the Treasury by a 19-5 vote, reports Politico . Max Baucus, the panel's Democrat chairman, said ahead of the vote that Lew had answered all questions "in a thorough... More »

Geithner to Pen Book on Financial Crisis

Plus: ex-Treasury secretary joining Council on Foreign Relations

(Newser) - Timothy Geithner will write a book about his fun times during the financial crisis, set for release in 2014, the AP reports. He'll be represented by the same lawyer who helped ink book deals for President Obama and Hillary Clinton. Meanwhile, the former Treasury secretary is becoming a distinguished... More »

Really? A Failed Citibanker for Treasury Secretary?

The Wall Street Journal isn't impressed by Jack Lew

(Newser) - Few Wall Street denizens were laughing during the 2008 financial crisis, but if someone had said the head of Citigroup's Alternative Investments unit would be Treasury Secretary in five years "the line would have brought the house down," a Wall Street Journal editorial quips today. Jack Lew'... More »

Obama: Jack Lew Will Work on His Signature

President jokes he wants at least one legible letter

(Newser) - As expected , President Obama nominated chief of staff Jack Lew to replace Tim Geithner as Treasury secretary today. After ticking off the challenges of the first term, Obama said Geithner would go down in history as "one of our finest secretaries of the Treasury," reports Business Insider... More »

Coming Soon to Our Dollar Bills?

Jack Lew's signature is ... unique

(Newser) - Jacob (Jack) Lew is expected to replace Tim Geithner as treasury secretary, but much of the related chatter today is about his signature rather than fiscal policy. Why? Because as Kevin Roose at Daily Intel points out, the signature that might soon be gracing our paper currency looks like a... More »

Obama Will Pick Jack Lew to Replace Geithner: Source

He'll announce the pick tomorrow

(Newser) - President Obama will tomorrow name current Chief of Staff Jack Lew as his nominee for Treasury secretary, a source tells Bloomberg News . Obama has already offered the position to Lew, the source says. The move doesn't exactly come as a surprise; Lew, a former director of the Office of... More »

Geithner Leaving This Month: Report

Treasury chief expected to be gone before debt ceiling showdown

(Newser) - Another fight over the debt ceiling might be just around the bend, but a key member of the White House financial team won't be here to see it: Bloomberg reports that Treasury chief Timothy Geithner, who has long planned to leave his post, will do so at the end... More »

We Could Fix Debt Crisis With ... Platinum Coins?

Bizarrely, laws restrict issues of gold, silver, copper, but not platinum

(Newser) - President Obama says he is " not going to play that [debt ceiling] game " with Republicans again. But how to avoid disaster if Congress doesn't raise the ceiling? It turns out the president has one ridiculously simple solution as an option—platinum coins. Incredibly, there is no legal... More »

OK, Obama, Now Can We Get Tough on Wall Street?

His 2nd term is a chance to do it right: William Cohan

(Newser) - Back when President Obama took office in 2009, many assumed he'd reform the Wall Street system that had just blown a hole in the economy. "It turned out we were either naïve or stupid," author William Cohan writes at Bloomberg . Instead, Obama's administration was stocked... More »

Geithner Open to Using Oil Reserves

But warns there's no 'quick fix' to rising gas prices

(Newser) - The Obama administration is open to using the strategic petroleum reserve if necessary to deal with rising gas prices, Timothy Geithner said in a CNBC interview, though he didn't sound terribly enthusiastic about the prospect, and warned that there was "no quick fix" to the problem. Gas prices... More »

Geithner: Obama Won't Ask Me to Stay

Treasury secretary says he's done after election

(Newser) - Tim Geithner is pretty sure he's going to be joining the ranks of the jobless after the election: The Treasury secretary—the longest serving member of President Obama's economic team—tells Bloomberg that Obama is "not going to ask me to stay on, I’m pretty confident.... More »

Geithner to Europe: We're Not Lecturing

Treasury secretary in Poland to offer advice on debt crisis

(Newser) - As Europe continues to battle its debt crisis, Timothy Geithner has a suggestion. The Treasury secretary today called on euro zone officials to leverage the region’s roughly $600 billion bailout fund, an insider tells Reuters . Geithner didn’t provide details on how Europe should go about the move, nor... More »

Geithner Staying Put at Treasury

Will likely stay on through fall 2012

(Newser) - One piece of economic upheaval that won't hit the fan this weekend: A vacancy at the Treasury Department. After much gnashing of teeth, Tim Geithner has informed President Obama that he will stay on as secretary at least through next fall, reports the Wall Street Journal. Geithner had wanted... More »

White House Twisting Geithner's Arm to Stay

He's likely to remain at post, but no decision yet: 'NYT'

(Newser) - Despite his protestations to the contrary , administration officials say Timothy Geithner has been considering resigning from his post since early this year—but now it appears the Treasury secretary will likely stay on through the rest of President Obama's term, thanks to pressure from the White House. Geithner and... More »

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