Treasury Secretary Speaks on Urgent Financial Matters

Treasury Secretary Timothy F. Geithner recently spoke about some important financial issues on NBC’s Meet the Press. Here are his views on two issues that are likely to be in the news for the next few days.

Financial System Overhaul

Geithner reiterated that America needs some serious financial changes. The Democrats have introduced the financial reform bill, which is likely to ensure that there is a system for preventing future bailouts of financial firms if their failure will hurt the economy. [Read more…]

Geithner Says US Can’t Force China Move on Currency

Timothy Geithner, the US Treasury Secretary, has said that the government cannot force China to change its currency policies. He was responding to the recent criticism that the government was not doing enough to stop China from maintaining its currency at a depressed level. [Read more…]

Geithner Supports Fannie and Freddie Overhaul

Timothy Geithner, the Treasury Secretary, has said that he supports an overhaul of Freddie Mac and Fannie Mae to prevent a housing market crisis similar to the one that led to the recession. He however cautioned that we should be selective in which aspects to change and which to retain as there were many parts of the system that have functioned well despite the crisis. [Read more…]