Treasury Secretary | featured news

Former Treasury secretary to deny government used pressure in Merrill, Bank of America merger.

The top two U.S. financial officials told lawmakers angry over bonus payments to AIG executives that the government needs authority to shut down troubled institutions like the giant insurer to avoid future bailouts.

Treasury Secretary Timothy Geithner says government will spend up to $100 billion to join private investors in buying up to $1 trillion in bad sub-prime mortgages, securities and other ailing assets.

The Obama administration today formally unveiled details of its long-awaited plan to help cleanse banks and financial institutions of bad home loans and toxic securities, making a calculated gamble that partnering with private investors to buy the assets will stabilize the crisis while limiting the

U.S. Treasury Secretary Timothy Geithner will lay out a bank-rescue plan on Tuesday that will rely on public and private funds to take $500 billion of bad assets off banks' books, sources said.

A Senate panel recommended that the full Senate confirm Tim Geithner as the next Treasury secretary.

U.S. Treasury Department official Stuart Levey has agreed to act as treasury secretary pending confirmation of Timothy Geithner, a transition official said on Thursday.

AP - Treasury secretary designee Timothy Geithner is meeting with senators to discuss why he failed to pay personal taxes and check the immigration status of a housekeeper. An official with President-elect Barack Obama's transition office says Geithner answered senators' questions during a meeting he requested Tuesday.