In an era of chastened Wall Street egos, Michael L. Corbat, the chief of Citigroup, has cultivated a workmanlike demeanor out of the spotlight. The NYT reports.» Read More
Former Treasury Secretary Timothy Geithner will join private equity firm Warburg Pincus. CNBC's Steve Liesman provides perspective.
Treasury Secretary Timothy Geithner, who played a major role in combating the global financial crisis, is joining private-equity firm Warburg Pincus as president and managing director, the firm said on Saturday.
Former Treasury Secretary Timothy Geithner has taken a job as president of the private equity firm Warburg Pincus.
NEW YORK, Nov 6- American International Group Inc has agreed to settle a $274 million lawsuit by a former executive who said the insurer refused to pay him during the financial crisis in 2008.. The settlement came as a trial was due to have begun Tuesday in a federal court in New York, which was expected to reopen the issue of executive pay at AIG.
*European Commission president urges rebuilding of EU-US trust. BRUSSELS, Oct 30- Persistent doubts about the ability of the United States to resolve its debt problems are putting U.S. credibility in the world at stake, European Commission President Jose Manuel Barroso has warned.
Gary Kaminsky, Vice Chairman, Wealth Mgmt at Morgan Stanley says tapering is not truly indicative on when interest rates will go up.
This could be too tall an order because Washington is already slashing spending on almost everything but the welfare state. To go further, Congress would likely have to make cuts in sacrosanct programs like pensions and healthcare for the elderly, something lawmakers appear loath to do.
President Barack Obama's safest choice is Janet Yellen but keeping Ben Bernanke could still be a possibility, said Tony Fratto, former White House press secretary.
NEW YORK, Sept 15- Investors took the withdrawal on Sunday of former Treasury Secretary Larry Summers as a candidate to head the U.S. Markets viewed Summers' move as leaving Fed number two Janet Yellen, a well-known advocate of looser monetary policy to support the U.S. recovery, the favorite to succeed the current chairman, Ben Bernanke.
NEW YORK, Sept 15- Investors took the withdrawal on Sunday of former Treasury Secretary Larry Summers as a candidate to head the U.S. Markets viewed Summers' move as leaving Fed number two Janet Yellen, a well-known advocate of looser monetary policy to support the U.S. recovery, the favorite to take the chairmanship.
WASHINGTON, Sept 15- Former U.S. Treasury Secretary Timothy Geithner is still not interested in being the next head the Federal Reserve, a source familiar with his thinking said on Sunday, after front-runner Lawrence Summers withdrew his name from consideration.
WASHINGTON, Sept 15- Lawrence Summers, a former top economic aide to President Barack Obama and a Treasury secretary under President Bill Clinton, withdrew his name from consideration to succeed Ben Bernanke as Federal Reserve chairman on Sunday. Summers' decision to drop out appears to make Fed Vice Chair Janet Yellen a strong contender for the job.
Sept 13- Five years ago, a series of black cars and SUVs lined up outside the Federal Reserve Bank of New York in lower Manhattan, ferrying some of the most important people in the U.S. financial system to a series of meetings to discuss the fate of Lehman Brothers.
WASHINGTON, Sept 5- Progressive groups opposing Lawrence Summers as the next Federal Reserve chairman are stepping up pressure on President Barack Obama to make a different choice, emphasizing the price his Democratic Party would pay for nominating the former U.S. Treasury Secretary and White House aide.
Happy Wednesday. It's chilly out here in the East, so we've brewed up a hot toddy six-pack to warm us all up:
On Tuesday, Irish bookmaker Paddy Power offered odds of 1/ 2 for Summers. At Paddy Power, there are 2,000 pounds at stake with 50 unique bets placed-- a small market compared with, say, bets placed on the name of the Royal baby or a standard football match, but a "decent size" market compared with other financial markets, the spokesman said.
There is a "horrible whispering campaign in Washington" against Federal Reserve Vice Chair Janet Yellen for the top job, former FDIC chair Sheila Bair told CNBC.
President Obama is in the process of interviewing three candidates for the position at the helm of the central bank: Larry Summers, Janet Yellen, and a dark horse, Donald Kohn.
President Obama pushed back against criticism of his former economic adviser Lawrence Summers, who is seen as a leading candidate to become the new chairman of the Federal Reserve.
President Barack Obama pushed back on Wednesday against criticism of his former economic adviser, Lawrence Summers, who is seen as a leading candidate to become the new chairman of the Federal Reserve, Democratic lawmakers said.