Showing posts from March 24, 2009

Is the plan enough to save his job?

Business Times - 25 Mar 2009 NEWS ANALYSIS Is the plan enough to save his job? Treasury chief under pressure; his future rests on new plan's success By LEON HADAR IN WASHINGTON AMERICAN and global markets have responded positively to US Treasury Secretary Tim Geithner's much anticipated programme aimed at buying up hundreds of billions of dollars worth of 'toxic' assets currently on the books of US banks. But will it be enough to save Mr Geithner's own neck? When he first mooted the plan, his wooden delivery and the lack of specifics caused the Dow to fall about 300 points on Feb 10. The Obama administration's leading economic policymaker has come under more pressure since then over the bonuses that were granted to American International Group (AIG) executives. There have been calls for him to step down. And although President Barack Obama has reiterated his confidence in Mr Geithner, the threat of a rising populist fury undermining his efforts to resuscitate Wa