Washington - President Barack Obama's administration, in a massive overhaul of the US 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.
Washington - US Treasury Secretary Timothy Geithner sent the US currency tumbling Wednesday by saying he was open to enlarging the International Monetary Fund's currency reserves, but rallied again as he clarified the dollar will remain "the world's dominant reserve currency."
His comments at the Council on Foreign Relations in New York were in response to China's suggestion that a new global currency reserve should replace the dollar in order to guard against fluctuations in economic crises.
Washington - US Treasury Secretary Timothy Geithner sent the US currency tumbling Wednesday by saying he was open to enlarging the International Monetary Fund's currency reserves, but rallied again as he clarified the dollar will remain "the world's dominant reserve currency."
His comments at the Council on Foreign Relations in New York were in response to China's suggestion that a new global currency reserve replace the dollar in order to guard against fluctuations in economic crises.
Washington - US Treasury Secretary Timothy Geithner on Monday said he would use a combination of private and public funds to remove up to 1 trillion dollars 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 dollars in government funds, Geithner said as he unveiled the much-anticipated details of a new programme that has been developed over the last month.
Washington - The Senate Finance Committee on Thursday approved Timothy Geithner's nomination to be US Treasury secretary in President Barack Obama's administration, paving the way for Geithner's confirmation by the full US Senate.
The Finance Committee voted 18-5 to send Geithner's nomination to the Senate, which could confirm his appointment later this week.
Washington - President Barack Obama's administration, in a massive overhaul of the US 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.
Washington - US Treasury Secretary Timothy Geithner sent the US currency tumbling Wednesday by saying he was open to enlarging the International Monetary Fund's currency reserves, but rallied again as he clarified the dollar will remain "the world's dominant reserve currency."
Washington - US Treasury Secretary Timothy Geithner sent the US currency tumbling Wednesday by saying he was open to enlarging the International Monetary Fund's currency reserves, but rallied again as he clarified the dollar will remain "the world's dominant reserve currency."
Washington - US Treasury Secretary Timothy Geithner on Monday said he would use a combination of private and public funds to remove up to 1 trillion dollars in toxic mortgage assets off the balance sheets of US banks, in the government's latest bid to end the financial crisis.
Washington - The Senate Finance Committee on Thursday approved Timothy Geithner's nomination to be US Treasury secretary in President Barack Obama's administration, paving the way for Geithner's confirmation by the full US Senate.
