Archive for the ‘Geithner’ Category
“To get the economy back on track, will President Barack Obama have to break his pledge not to raise taxes on 95 percent of Americans? In a ‘This Week’ exclusive, Treasury Secretary Tim Geithner told me, ‘We’re going to have to do what’s necessary.’ Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it.
‘We have to bring these deficits down very dramatically,’ Geithner told me. ‘And that’s going to require some very hard choices.’ ‘We will not get this economy back on track, recovery will be not strong and sustained, unless we convince the American people that we are going to have the will to bring these deficits down once recovery is firmly established,’ he said…”
source: abcnews.com
“Divisions between the administration of Barack Obama, the Federal Reserve and key regulators came to a head on Friday as officials debated plans to overhaul the US regulatory system.
Tim Geithner, Treasury secretary, said there was ‘a lot of dumb regulation in our country’ and urged lawmakers to enact quickly the administration’s plan to reform the system, in spite of resistance from the financial industry and other regulators.
‘Every financial crisis of the last generation has sparked some effort at reform, but past attempts began too late, after the will to act had subsided,’ he told the House financial services committee, which will start drawing up legislation in September. ‘That cannot happen this time’…”
via financialtimes.com