Geithner defends plan to increase financial oversight, bolster powers of the Fed

September 23rd, 2009 Obama tries to reclaim debate on financial reformWASHINGTON — Treasury Secretary Timothy Geithner says he supports revisions to the administration's financial reform plan that were proposed by Rep. Barney Frank.

July 28th, 2009 Geithner: US, China response halted global crisisWASHINGTON — Treasury Secretary Timothy Geithner credits the response of the United States and Chinese governments for pulling the global financial system back from the brink of failure. Geithner says both countries capped two days of high-level talks Tuesday with an agreement from China to increase domestic consumption to reduce its reliance on exports to U.S.

July 28th, 2009 Geithner: US to address deficits after recoveryWASHINGTON — Treasury Secretary Timothy Geithner says he has reassured China that the United States will take steps to address rising budget deficits once the economic recovery is firmly in place. China has huge investments in the United States and has worried it could be undermined by U.S.

July 25th, 2009 Geithner, Bernanke at odds on consumer protectionWASHINGTON — Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke staked out opposing sides Friday in a turf war over who should protect Americans from shady mortgage lending, abusive credit card fees, payday loans and other high-cost or risky financial products. The White House wants to create a new Consumer Financial Protection Agency to oversee a vast range of financial products, stripping the Federal Reserve and other banking regulators of their current authority for policing them.

July 24th, 2009 Geithner defends financial oversight reformWASHINGTON — Treasury Secretary Timothy Geithner said Friday that a new agency focused on protecting consumers is needed because the mission currently is too scattered among various regulators. This results in "finger-pointing in place of action," he told the House Financial Services Committee.

July 24th, 2009 Frank defends oversight of Fannie, FreddieWASHINGTON — House Financial Services Chairman Barney Frank is defending Democrats' oversight of struggling mortgage buyers Fannie Mae and Freddie Mac. At a hearing Friday, the Massachusetts Democrat said the notion that the two institutions have been left "unbridled" by Democrats is a myth.

July 10th, 2009 Geithner: Stimulus on 'expected path'WASHINGTON — Treasury Secretary Timothy Geithner says the administration's plan to stimulate the economy by spending billions on construction and other local projects is on the "expected path." Geithner defended the stimulus plan Friday after Florida Republican Rep. Bill Posey asked where the government's plan went wrong, because unemployment remains high.

July 8th, 2009 Frank backs plan for a consumer protection agencyWASHINGTON — The chairman of the House Financial Services Committee is throwing his weight behind President Barack Obama's plan to create a government agency to protect consumers from risky mortgages and credit cards, although some of his colleagues are skeptical of the details. Rep. Barney Frank, D-Mass., said in a brief interview Wednesday that he plans to introduce legislation that would establish a "Consumer Financial Protection Agency." Frank said his proposal would mostly track with Obama's plan but make some small changes.

June 18th, 2009 Geithner: Fed best suited for super regulator roleWASHINGTON — Treasury Secretary Timothy Geithner says the Federal Reserve is best suited to become a super-regulator that would oversee financial firms so big and influential that their failure could topple the economy. Some lawmakers want to give the job to a council of regulators.

June 18th, 2009 WASHINGTON - US legislators launched the first salvos Thursday in a looming battle to overhaul the country's regulation of the financial industry after one of its worst ever crises. Senators voiced skepticism about President Barack Obama's plan for strengthening the government's oversight of Wall Street, which was billed Wednesday as the most sweeping set of regulatory reforms since the Great Depression of the 1930s.

June 2nd, 2009 Geithner seeks to reassure global investorsBEIJING — Treasury Secretary Timothy Geithner says the Obama administration is committed to doing everything possible to maintain investor confidence in U.S. financial markets.

May 31st, 2009 Geithner sees hopeful signs in US economyBEIJING — U.S. Treasury Secretary Timothy Geithner says the U.S.

April 14th, 2009 WASHINGTON - US Treasury Secretary Tim Geithner will host a meeting of finance ministers from the world's 20 top economies including India next week to discuss plans to increase oversight of the global financial system. The meeting of ministers of Group of 20 advanced economies will follow a smaller gathering of officials from the Group of 7 rich countries in Washington on April 24, the Treasury Department said Monday.

March 26th, 2009 WASHINGTON - US President Barack Obama's administration, in a massive overhaul of the country's financial regulatory system, is seeking the power to keep watch on all types of financial firms and to seize failing companies integral to the health of the system. US Treasury Secretary Timothy Geithner unveiled the plans in congressional testimony on Thursday, arguing that the current financial turmoil has proven the system is 'too unstable and fragile' to be allowed to manage itself.

March 24th, 2009 WASHINGTON - US Treasury Secretary Timothy Geithner Monday said he would use a combination of private and public funds to remove up to $1 trillion in toxic mortgage assets off the balance sheets of US banks, in the government's latest bid to end the financial crisis. The new effort will include up to $100 billion in government funds, Geithner said as he unveiled the much-anticipated details of a new programme that has been developed over the last month.