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streetread's Commentaries

Mar 24 2009

Geithner Asks Congress for Broad Power to Seize Firms

by streetread
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Treasury Secretary Timothy F. Geithner today told Congress the administration will seek unprecedented power to seize non-bank financial companies whose collapse could jeopardize the economy, a move Geithner said would have allowed the government to bail out insurance giant American International Group at a far lower cost to taxpayers.



Tags: business | government | congress
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