Timothy Geithner

The United States and India announced Tuesday they were launching a dialogue to expand economic cooperation, with Treasury Secretary Timothy Geithner to visit the emerging power next year. The two countries' finance chiefs announced the new "US-India Economic and Financial Partnership" as President Barack Obama hosted Indian Prime Minister Manmohan Singh on the first state visit since he entered the White House. The Treasury Department said Geithner would head in early 2010 to launch the forum, which will meet once a year and look at ways to cooperate in "macroeconomic policy, the financial sector and infrastructure development." "India is an emerging global power and ... Read Full Story

(Reuters) - Several U.S. policy makers consider JPMorgan Chase & Co Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources. Dimon "would love to serve his country," the paper quoted people familiar with his thinking as saying. JPMorgan could not be immediately reached for comment by Reuters outside regular U.S. business hours. Geithner endured a grilling last week before the U.S. Congress over his role in the rescue of American International Group Inc in 2008, when he was president of the New York Federal Reserve Bank. (Reporting by Ajay Kamalakaran in Bangalore; ... Read Full Story

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on Thursday defended the costly bailout of insurer AIG and urged swift regulatory reform to safeguard the economy from the failure of big financial firms. Before Congress' Joint Economic Committee, Geithner faced fierce criticism of his role in the rescue of American International Group Inc in 2008, when he was president of the New York Federal Reserve Bank. Geithner said AIG's failure posed as significant a risk to the economy as the collapse of investment bank Lehman Brothers, which sparked a panic that froze global trade and threatened to topple the entire financial system. "The United ... Read Full Story

WASHINGTON (Reuters) - Adding to lawmaker criticism of U.S. Treasury Secretary Timothy Geithner's performance is a new survey released on Friday showing 42 percent of Americans say he has done a "poor job" handling the credit crisis and federal bailout programs. The survey by Rasmussen Reports, a polling and electronic publishing firm, found that 20 percent rated Geithner's performance in these areas as "good" or "excellent", while 16 percent were not sure how he was performing. Twenty-two percent rated his performance as "fair". Rasmussen said these findings were largely unchanged from a survey done in March just after the passage of the Obama administration's ... Read Full Story

US lawmakers criticized US President Barack Obama's administration on Thursday for not pressuring China enough over its rigid currency as they set the stage for slapping import duties on Chinese goods. As Obama returned home without any pledge from China to make its yuan flexible, Republican and Democratic lawmakers sent a letter to the Commerce Department calling for an investigation into "China?s currency manipulation." It is "a potential first step in a process that could lead to significant, US-imposed tariffs on imports from China," said Democratic Senator Charles Schumer, who jointly wrote the letter with Republican Senator Lindsey Graham. The Obama administration, like the ... Read Full Story