Geithner, who played a central role in the government’s response to the financial crisis of 2008-2009, is joining private equity firm Warburg Pincus LLC.
The bank chairman could be sentenced up to a year in prison, may also have to pay a $100,000 fine, and is barred from future work in the financial services industry.
For years, Progressives have been fighting to break up the big banks that crashed our economy. And now, they've gotten an unlikely ally in that fight -- The Tea Party. Apparently there are some members in the GOP who actually believe that the too big to fail banks need to be broken apart -- but not for the same reason progressives believe.
Join Economics Professor Richard Wolff, University of Massachusetts, for a screening of his film, "Capitalism Hits the Fan," and a Q&A session.
Cyprus overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout on Tuesday, throwing international efforts to rescue the latest casualty of the euro zone debt crisis into disarray.
European markets have followed Asian shares downward on fears that the plan to bailout Cyprus could trigger an escalation of the eurozone debt crisis.
Why should taxpayers give Big Banks $83 billion a year?
When the greed, recklessness, and illegal behavior on Wall Street drove this country into the deepest recession since the 1930s, the largest financial institutions in the United States took every advantage of being American. They just loved their country - and the willingness of the American people to provide them with the largest bailout in world history. In 2008, Congress approved a $700 billion gift to Wall Street. Another $16 trillion in virtually zero interest loans and other financial assistance came from the Federal Reserve. America. What a great country.
Former TARP Inspector General Neil Barofsky sat down with The Daily Show's Jon Stewart to talk about his book Bailout: How Washington Abandoned Main Street While Rescuing Wall Street and the reasons for the program's failure. You can read
Al Jazeera reports that the European Central Bank has rejected Ireland's proposals to restructure some of the country's huge debts. The government wants to avoid paying tens of billions of dollars over the next decade to underwrite a failed
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