Tim Geithner: More Banker Than the Bankers
May 12, 2014
In the NYT, Geithner unintentionally gives it away: He's accepted the financialization of the economy as a plus—and it colors his every utterance as he promotes his book.
Just the Facts for J. Russell George
May 21, 2013
The "low key" IRS watchdog explains the limits of his job.
Just what did he know about AIG and Citigroup. Plus: What about those F-Bombs?
Why Did Democrats Give Jack Lew a Pass?
February 28, 2013
His record from the past decade includes plenty of markings that should have given Democrats pause.
Is the Favorite to Replace Larry Summers Too Close To Wall Street?
December 30, 2010
[Guest post by Noam Scheiber:] If you’ve spent much time talking to Treasury officials over the past two years, you’ve probably heard them joke that Gene Sperling, a counselor to Secretary Tim Geithner, is the department’s in-house populist. What makes this funny (insofar as wonk humor can be funny) is that Sperling isn’t exactly your classic pitch-fork wielder. He was director of Bill Clinton’s National Economic Council (NEC) in the late ‘90s, a period when the White House got pretty good marks for its understanding of business and the broader economy.
Thrifty’s Not So Nifty
September 22, 2010
Few people have heard of the “paradox of thrift,” a very old economic theory that was revived, and dusted off, and contextualized, by John Maynard Keynes and has lately reappeared as a shuttlecock in the battle between Left and Right over stimulus spending and other responses to the economic crisis.
June 17, 2010
Did Obama just dump his best friend on Wall Street?
December 30, 2009
In a year when the government enacted one of its largest-ever stimulus bills, guaranteed hundreds of billions of dollars in bank debt, bought hundreds of billions more in mortgage-backed securities, took 60 percent ownership of one car company and put up billions in financing for another, it’s not obvious why you’d dwell on an initiative that basically cost nothing.
One Cheer for Bank of America's Bailout Repayment
December 03, 2009
It's hard not to be somewhat encouraged by the announcement that Bank of America has reached a deal with Treasury to repay the $45 billion in "exceptional assistance" it received last fall and winter. BofA was one of two problem megabanks (the other being Citigroup) to receive such a mega-bailout, and at times looked like it would be years before it returned the cash. For both substantive and political reasons, the administration has good reason to breathe a little easier. (And, to its credit, it negotiated a pretty tough deal with the bank.
Why Wasn't Obama More Assertive in China?
November 18, 2009
I guess there are two theories on this question: 1.) That the Chinese have a huge amount of leverage over us because we owe them over $1 trillion; it's only natural that we'd pull our punches under the circumstances. 2.) Obama's believes you're more likely to make progress through patience and dialogue than with in-your-face demands; his instincts are conciliatory rather confrontational. While both probably apply on some level, I happen to think the latter looms larger.