Archive for the ‘Pact’ tag
NY Fed’s Geithner Says Judgment on Regulatory Bill Should Be Held
“The U.S. and global financial systems are going through a very
challenging period of adjustment. The critical imperative today is to
help facilitate that adjustment and to cushion its impact on the broader
economy. The forces that made the system vulnerable to this crisis took a
long time to build up, and the system will need some
time to work through their aftermath,” said Geithner.
Paulson Says Firms Should Be Allowed to Fail
Testifying before the House Committee on Financial Services, Treasury
Secretary Henry Paulson said financial firms must be allowed to
fail.
“It is clear that some institutions, if they fail, can have a systemic
impact. Looking beyond immediate market challenges, last week I laid out
my proposals for creating a resolution process that ensures the financial
system can…