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Tag Archives: treasury secretary timothy geithner

Oil hovers near $90 amid Europe action hopes

The price of oil hovered near $90 a barrel on Monday, holding onto most of the previous week’s gains, as expectations remain elevated that the European Central Bank would act to prevent Spain’s financial woes from deepening. By early afternoon ...

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GOP: Geithner failed to tell Congress about LIBOR

WASHINGTON — Republican lawmakers are criticizing Treasury Secretary Timothy Geithner for failing to alert Congress four years ago that banks could manipulating a key global interest rate. Geithner defended his actions at a hearing Wednesday of the House Financial Services ...

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How will JPMorgan’s $2B loss affect banking rules?

WASHINGTON — The $2 billion trading loss at JPMorgan Chase has renewed calls for stricter oversight of Wall Street banks. Two years after Congress passed an overhaul of financial rules, many of those changes have yet to be finalized. JPMorgan’s ...

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Life of Social Security trust funds loses 3 years

WASHINGTON — High energy prices and an economy that has been slow to rebound are worsening Social Security’s finances, shortening the life of the trust funds that support program by three years, the government said Monday. Those funds will now ...

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Obama wants to target oil market manipulation

WASHINGTON — President Barack Obama pushed Congress Tuesday to give oil market regulators more muscle to deter price manipulation by speculators, the latest White House response to determined Republican attacks on administration energy policies amid high gas prices at the ...

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Obama nominates 2 to Federal Reserve Board

HONOLULU — A vacationing President Barack Obama has nominated a Harvard University professor and a former Treasury official under President George H.W. Bush to the Federal Reserve Board. In a statement, Obama praised Jeremy Stein and Jerome Powell for agreeing ...

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Treasury confirms deadline for raising debt limit

WASHINGTON — The Treasury Department says Congress has one month to raise the nation’s borrowing limit or the government will default on its debt. Treasury officials are confirming the Aug. 2 deadline in a monthly update that assesses the nation’s ...

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House to reject debt limit increase without cuts

WASHINGTON — The GOP-led House is poised to reject a bill Tuesday to increase the nation’s debt limit without the big spending cuts that Republicans are demanding. The move is intended as an embarrassing reminder to Democrats that increasing the ...

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