Tag: geithner

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Liveblogging C-Span | Timothy Geithner, Secretary of the Treasury on bank bailout package 10th Feb

Colin Henderson

Two minutes to go – running a little late.  This set of announcements to talk about the plans for the remaining $250 Bn TARP money. Expect to see these dramatic developments. A public / private investment fund a new pre-requisite requirement for banks before receiving for government aid major expansion to consumer / business lending programme I will update this post every few minutes. Here we go.  Sen Chris Dodd, D Banking, Housing and Urban Affairs Committee Chairman  introduces Geithner. Treasury Department Financial Markets Assistance Plan. Notes listening to him: “Introduction has talked about unfreezing credit 5 times – interesting … Continue reading Liveblogging C-Span | Timothy Geithner, Secretary of the Treasury on bank bailout package 10th Feb

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The difference between good and evil – welcome to the new world order of finance

Colin Henderson

It may seem a petty matter, but the Cit Jet issue is now officially a fiasco.  This follows on the expulsion of John Thain for the famed $87,500 carpet. In both cases the common thread is that no amount of rationalisation can make the matter right.  The rationalisation goes that the purchase was executed months or years ago and represented commitments that must be honored.  In the case of the Citi jet if was further rationalised that they had sold two other jets and those funds almost made up the $50 million for the new one.  Classic MBA / finance … Continue reading The difference between good and evil – welcome to the new world order of finance