Timothy Geithner, Government Authority To Shut Down Troubled Institutions | featured news

Treasury's Geithner takes heat at hearing on Obama financial reform plan

Some senators criticize a plan that would give the Federal Reserve more power to police large companies.

 

Geithner wants powers to wind down firms like AIG

Geithner wants powers to wind down firms like AIG

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.

 

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