Bernanke et Geithner comprennent l'exaspération des anti-Wall Street
LE MONDE: Le président de la banque centrale américaine, Ben Bernanke, et le secrétaire au Trésor des Etats-Unis, Timothy Geithner, ont déclaré mardi 4 octobre qu'ils comprenaient l'exaspération exprimée par nombre d'Américains vis-à-vis de Wall Street. "D'une manière générale, les gens sont assez mécontents de l'état de l'économie et de ce qui se passe", a déclaré M. Bernanke à propos des manifestations qui durent depuis la mi-septembre à New York.
"Ils reprochent, non sans raison, au secteur financier de nous avoir menés à la pagaille dans laquelle nous nous trouvons et sont mécontents de la réponse" des autorités, a ajouté M. Bernanke, qui s'exprimait lors d'une audition devant la Commission économique mixte du Congrès à Washington. "Jusqu'à un certain point, je ne peux pas leur reprocher quoi que ce soit. Il est certain qu'avec un chômage de 9 % et une croissance économique très faible la situation n'est pas très bonne. C'est contre cela qu'ils protestent", a encore indiqué le président de la Réserve fédérale. » | LEMONDE.FR avec AFP | Mercredi 05 Octobre 2011
Cameron Risks Conflict with US Over Pace of Spending Cuts
David Cameron arrives in Toronto where he will attend the G8 and G20 summits. Photo: The Times
THE TIMES: David Cameron will risk a trans-Atlantic rift over his Budget today by insisting that Britain is right to slash spending despite American warnings that deep cuts could derail the global recovery.
Tim Geithner, President Obama’s Treasury Secretary, said it was paramount for European leaders to concentrate on growth, and that they could not rely on America to drive the recovery.
His comments reflect concern in Washington that European governments - Germany in particular - have cut their budgets too hard and too fast, and that the risk to growth could drag the world economy back towards recession.
Mr Cameron, who holds face-to-face talks with Mr Obama tomorrow in Toronto, will insist that he had no choice because the Greek crisis showed the dangers to governments of failing to deal with vast debts.
“For countries with big fiscal deficits, that path to recovery requires us to deal decisively with the deficit problem,” said the Prime Minister’s official spokesman.
“It is perfectly consistent to have strong position on fiscal consolidation and be pro growth.” Read on and comment >>> Roland Watson, Toronto | Friday, June 25, 2010
Sunday, March 22, 2009
Crise : Obama défend son «pote» Geithner
lePARISIEN.fr: Le président américain Barack Obama réitère son soutien à son secrétaire au Trésor Timothy Geithner, affirmant qu'il n'accepterait pas sa démission si elle lui était proposée, dans une interview à CBS qui doit être diffusée dimanche soir. Ces déclarations interviennent alors que le gouvernement américain devrait présenter, lundi, le plan Geithner destiné à débarrasser les banques de leurs actifs toxiques. L'annonce de ce plan pourrait être l'épreuve du feu pour Tim Geithner.L'opposition républicaine réclame régulièrement sa démission.
Dans cette interview à CBS, Barack Obama assure que ni lui, ni M. Geithner n'ont jamais parlé de la démission du secrétaire au Trésor, mais que «la critique est naturelle» dans ce contexte de crise économique, indique un communiqué de la chaîne de télévision américaine, citant des propos du président américain dont une longue interview doit être diffusée dimanche dans l'émission «60 minutes». Et si jamais Tim Geithner proposait sa démission ? «Je répondrais : Désolé, mon pote, tu gardes ton boulot», rétorque le président des Etats-Unis.
Son secrétaire au Trésor est sous le feu des critiques pour sa gestion de la crise économique actuelle et en raison du scandale politique né du versement d'importants bonus par le géant américain de l'assurance AIG, récemment sauvé de la faillite par l'injection de fonds publics. >>> leparisien.fr | Dimanche 22 Mars 2009
YOU TUBE: Obama Defends Geithner
THE TELEGRAPH: Barack Obama Will Refuse to Let Tim Geithner Quit
President Barack Obama has insisted he would refuse to accept the resignation of Tim Geithner, the embattled Treasury Secretary, and instead tell him: "Sorry buddy, you've still got the job".
In an interview with the CBS "60 Minutes" programme, Mr Obama pleaded for more patience over dealing with the economic crisis.
He said: "It's going to take a little bit more time than we would like to make sure that we get this plan just right. Of course, then we'd still be subject to criticism.
"What's taken so long? You've been in office a whole 40 days and you haven't solved the greatest financial crisis since the Great Depression."
Seeking to channel public outrage over lavish bonuses for financiers from the failed insurance giant AIG, he urged corporate executives to visit Middle America.
"If you go to North Dakota, or you go to Iowa, or you go to Arkansas, where folks would be thrilled to be making $75,000 a year – without a bonus – then I think they'd get a sense of why people are frustrated," he said.
His unstinting support for Mr Geithner came as he prepared to unveil a plan for a long-term overhaul of the crisis-hit American financial system.
Officials said that the plan would include using $100 billion in taxpayer money to ease the credit crisis by leveraging as much as $1 trillion in so-called toxic assets so they could be taken off the books of struggling banks. >>> By Toby Harnden in Washington | Sunday, March 22, 2009
Tuesday, February 10, 2009
Spending Money Like There’s No Tomorrow! Obama, the Two Trillion Dollar Man!
US Treasury Secretary Tim Geithner has admitted America’s original bank bail-out was “inadequate”, as he set out a revamped plan to provide more than $2 trillion to stabilise ailing financial institutions and revive lending.
Mr Geithner, who as the former president of the Federal Reserve Bank of New York was instrumental in devising the previous $700bn bail-out, admitted that the “force of government support” in the Autumn failed to prevent the “deepening pressure brought on by the financial crisis.”
Admitting public distrust in the first bail-out, led by his predecessor as Treasury Secretary, Hank Paulson, Mr Geithner admitted that today's “comprehensive strategy will cost money, involve risk, and take time.”
Today's plan comes a day after President Barack Obama used his first White House press conference to tell Americans that passing his massive economic stimulus bill would mean the difference between "catastrophe" and saving or creating "up to four million jobs."
US stock markets markets responded badly to the plan, with the Dow Jones Industrial Average extending losses to more than 3pc in early trading.
In place of October's plan, which simply injected capital into major US banks and hoped for the best, Mr Geithner unveiled a three-prong programme which he hopes will “use taxpayers’ money in ways that will benefit them.”
The programme will be known as the “Financial Stability Plan” – ditching the TARP (Troubled Assets Relief Programme) moniker – and Mr Geithner said that it would be monitored closely and reviewed regularly to ensure it is working. Tim Geithner Unveils New Plan to Rescue US Banking System >>> By James Quinn, Wall Street Correspondent | Tuesday, February 10, 2009
TIMES ONLINE: Let’s Not Penny-pinch, for God’s Sake. What’s a Trillion between Friends?
The Obama Administration laid out plans yesterday to marshal an extraordinary $3 trillion to stabilise America's stricken banking sector and revive its collapsing economy. US shares dropped sharply despite an unprecedented few hours of emergency government action.
First, President Obama's Treasury Secretary unveiled a sweeping new rescue plan for the US banking system that could amount to at least $2 trillion. It involves a combination of taxpayers' and private money to help to free up the country's frozen credit markets and to save the financial sector from collapse.
Timothy Geithner's appearance unsettled Wall Street mainly because business leaders were concerned about the lack of detail in his plan. Two hours later an entirely separate plan - Mr Obama's $838 billion economic stimulus package aimed at creating jobs and reviving the economy - was narrowly passed by the US Senate, but in the face of almost unanimous Republican opposition. Needing 60 votes to avoid blocking tactics, the Bill attracted 61, with only three moderate Republicans backing it.
When Mr Obama was told of the Bill's passage during a rally in Fort Myers, Florida, he said: “That's good news. It's a good start.” Yet Mr Obama set himself tough benchmarks - as he did at a prime-time news conference on Monday night, part of a campaign to sell the stimulus package to the US public - in essence conceding that his presidency would succeed or fail on his ability to turn the economy around. He pledged that his stimulus plan would create or save three to four million jobs within two years. “If people don't think I've led the country in the right direction, you'll have a new president.” Barack Obama Team Rolls Out $3 trillion Plan to Save Economy >>> Tim Reid in Washington | Wednesday, February 11, 2009
