Tag: Geithner

The Takeaway

This Week's Agenda: US Officials Head to China

Monday, May 24, 2010

It's Monday, which means it's time to take a look at the week ahead. Marcus Mabry, associate national editor for The New York Times, and Charles Herman, The Takeaway and WNYC's economics editor look at what almost 200 American officials headed to China for meetings today and tomorrow, can expect.  On the docket will be topics ranging from trade to Iran and North Korea.

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The Takeaway

Takeouts: Obama in NOLA, Wall Street in Washington, Baseball's NLCS

Thursday, October 15, 2009

  • Washington Takeout: Washington Examiner White House correspondent Julie Mason says President Obama will face a tough crowd when he visits New Orleans tomorrow. Many city residents are upset that it's his first visit to the city and are unimpressed with his short, four-hour visit.
  • Sports Takeout: The Takeaway's sports contributor, Ibrahim Abdul-Matin, previews Game 1 of baseball's National League Championship Series taking place in Los Angeles tonight. Will the LA Dodgers or the Philadelphia Phillies take the lead as the teams vie for a slot in the World Series?
  • Business Takeout: New York Times finance reporter Louise Story takes a look at why Treasury Secretary Timothy Geithner has surrounded himself with policy advisors from Wall Street firms. 

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The Takeaway

Building Confidence Via Stress Tests

Friday, May 08, 2009

The Federal Reserve yesterday released the long-awaited results of the “stress tests”. The tests found that ten of the nation's 19 largest banks need a total of about $75 billion in new capital to withstand losses if the recession worsened. The banks in trouble will have until June 8 to come up with a plan and have it approved. While the verdict was far more upbeat than many in the industry had feared when the tests were first announced in February, will the results help build the confidence they're meant to? Edmund Andrews, New York Times economics reporter, joins The Takeaway to discuss.

For more, read Edmund L. Andrews' article, Ailing Banks Need $75 Billion, U.S. Says, in today's New York Times.

Stress-test results: click here to see which banks still need more cash.

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The Takeaway

Is the Stress-Test Good Economics or Just Good PR?

Friday, May 08, 2009

The Federal Reserve yesterday released the long-awaited results of the “stress tests”. The report gave nine of the nation's largest banks a clean bill of health, and told ten others to raise $75 billion in new capital. The banks in trouble, including Bank of America, Wells Fargo, and Citigroup, will have until June 8 to come up with a plan to raise the money and have it approved. Joining The Takeaway is Simon Johnson, Professor at MIT, former chief economist at the IMF, and co-founder of the economics blog Baseline Scenario. He's been a critic of Treasury Secretary Timonthy Geithner's approach to solving the nation's financial woes, he joins us to discuss the results, the after-hours upsurge in trading, and what this means for the economy.
"The stress testing is only as good as the technical models and as good as the political will you have to oversee powerful banks."
—MIT Sloan Professor Simon Johnson on the results of the banks' stress tests

Stress-test results: click here to see which banks still need more cash.

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The Takeaway

Bank bailout fund dwindles to a (paltry) $109 billion

Wednesday, April 22, 2009

What can you buy for a $109 billion? That's the question the U.S. Treasury Department is asking itself as the TARP bank bailout fund has become a shell of its once robust self. The fund started out with $700 billion and managed to buy the solvency of the financial system (and a few AIG bonuses), so what should they do with the remaining money? 58 space shuttles, 500 million iPhones, or 1.7 million Hummers? Obviously The Takeaway has a few ideas.

Dr. Evil had a plan for what to do with $100 billion:

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