European nations were pressed Tuesday by a credit downgrade threat and the U.S. Treasury chief to deliver on markets' huge hopes for a solution to the 2-year-old financial crisis engulfing the continent.Germany and France downplayed Standard & Poor's warnings to downgrade 15 eurozone nations and Europe's bailout fund. But a downgrade of their AAA ratings would complicate their efforts to restore investor confidence in Europe.
David Riding and Sarah DiLorenzo
, December 06, 2011
After the first-ever downgrade of the U.S. government's credit rating, the White House said Saturday that President Barack Obama believes it's clear Washington "must do better" in tackling the deficit.V
Treasury Secretary Timothy Geithner says Republican leaders have privately assured the Obama administration that Congress will raise the government's borrowing limit in time to prevent an unprecedented default on the nation's debt.
The folks who print America’s money have designed a high-tech makeover of the $100 bill. It’s part of an effort to stay ahead of counterfeiters as technology becomes more sophisticated and more dollars flow overseas, Federal Reserve Chairman Ben Bernanke says.
Jeannine Aversa and Martin Crutsinger
, April 21, 2010
Treasury Secretary Timothy Geithner is in Minnesota touting efforts to build an energy-efficient economy. Geithner toured Honeywell International Inc.’s plant in Golden Valley on Thursday and participated in a round-table discussion with local politicians. He emphasized a need for the federal government to work with states to spark job growth.
UPDATED 1:14 P.M. In a letter to House and Senate leaders, Treasury Secretary Timothy Geithner says the extension of the Troubled Asset Relief Program is "necessary to assist American families and stabilize financial markets."
Daniel Wagner and Jeannine Aversa
, December 09, 2009
Congress' goals for TARP still hasn't met many of its targets, its oversight panel says The programs funded by the bailout — including bank capital injections, foreclosure relief and automaker rescues — were uneven in their success, the panel says. But it also noted that there is broad consensus that the programs helped avert a possible economic calamity.
The department said today the banks, which were not named, will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program created by Congress last October at the height of the financial crisis.
Finance officials from the world’s top economic powers pledged today to cooperate on efforts to lift nations out of the worst recession since the 1930s. The major goal: Get banks in every country to start lending again.
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