i called tim geithner and i talked about these issues. what are other examples where the treasury department not carry forward the will of the president? tim geithner and i went went through it letter and a verse. the responses full, complete. this is in the book. two pages. if you read that, at the end of the day, it is hard to come to a conclusion other than tim geithner game to the president on his desire to really look at the taking down of the big banks, citibank, other big banks when they felt the urge to stock up. he was really study hard in january, february, march in 2009. the fact is that it did not happen. a month later, he thought that plans were being drawn up to dissolve city back -- citibank. he found out that they were not and he got quite agitated. i talked to the president about it and i talked to tim about it, everyone involved in that meeting where he raised his voice. there is not any dispute about it. there is no dispute that i have seen about what happened. the question is, what did the president do? did he ask lost

and he's in charge of the financial system the eurozone shuns geitner treasury secretary timothy geithner was in poland last weekend and he suggested to the. and that it's so easy to solve your problem you know what you do you take your four hundred forty billion european financial stability fund and leverage it ten times and make it worth four point four trillion yeah well that's the solution in the neo liberal washington consensus model it's all was to expand the dead instead of generals we've got like general electric in there the white house advising obama they of course have a vested interest as obama's doing whatever general electric wants them to do and this is not how you run a country in the interest of the people who you're supposed to serve well of course all the europeans told in debt to me to go take a hike but there was another friend of to me you know we all know our fatso and he's returned ok this is larry summers and tim geithner and this little image again from william bonzai seven you know we have the financial heart for the financial war because no war is whole without

this is larry summers and tim geithner in this little image again from william bonzai seven you know we have the financial part for the financial war because no war is whole without the artist a member of the troika are when america had their own troika just like greece has the troika but curly committing financial terrorist acts against that little country we had to strike in america summers geithner and rubin by robert rubin the three crusaders of on a wholly financial warfare totally destabilizing the us economy and raping it for every nickel they could get and now summers is coming back oh my god that's right with this piece in the f.t. the world must insist that europe act so larry summers is saying an increase in the central financial commitment to the financial stability of member states and a reduction in their financial autonomy is needed if the currency the euro is to survive for also christine legarde got her wings clipped if you saw that last week but she came out in the press and suggested that banks needed to improve their capital ratios she got to read the riot act by

morgan made on this deal they work together it's a wall street those two guys and geithner it's this racketeering and libya the if they thought they were bad with their weapons and their hijackings and what they didn't have bad was until tony blair showed up with j.p. morgan now they could offer you know isn't a terrorist really looks like well stacey hurt thanks so much for being on the cause the report thank you max go away much more coming your way so stay right there. weapons grade plutonium is turned into a vital numerously. nuclear waste becomes a fuel friendly to the environment and energy poses a lot of the ends of the earth russian scientists lead the way in making these innovations our reality the national culture of freedom from the fears of nuclear longer lives the peaceful revolution in the comic energy on technology update we've got the covered. fist. fights to. keep. back to the kaiser report let's go to new york and speak with. blog dot com reggie on the way to the studio you wrote this on your blog quote i will fly in the face of common wisdom and walk through a run.

treasury secretary timothy geithner. he sat down with our washington bureau chief darren gersh earlier today. darren began by asking him about why the president is so focused on the buffett rule. >> mr. secretary, fisch of all, thank you very much for your time, appreciate it i want to start off y is the president focusing so much on what people are calling the buffett rule? >> well w what the president laid out today was as part of a very tough, very strong long-term fiscal reform to go back to within our means, re-- he proposed comprehensive tax reform with important broad principleses. those were the lower rates, try to clean up a lot of waste in the tax code, help contribute to deficit reduction, help improve incentives for investors in the united states so we're more competitive but also we want to make the system more fair. as part of that what he said is it's only part of it, his basic views if you make more than a million dollars a year today, that we want to make sure you're not paying less in tax than an averag

treasury secretary timothy geithner herridge joined the finance ministers from the european union in poland. now by a i'm joined member of the economic institute for peace and justice. they delayed a decision on whether to give greece a next chunk of their and bailout until next month. why did they delayed this? >> basically, i think they have delayed it again which is cutting it a very close. basically, they want to see commitment on the ground of greece actually implementing these very tough measures that they have been talking about implementing. basically, they want to see see greece lay off public sector workers. these are the kinds of concrete implementations there are looking for. >> the time for talk is over, the time of doing what they agreed to do with the imf and the eurozone is now. >> timothy geithner there, the first u.s. treasury secretary to join european finance ministers that this kind of meeting, what kind of advice would he have given them that they would have been unwelcome to receive? >> what do you do we only have a finite amount of taxpayers' money and you hav

>> you know this well, the white house convinced tim geithner to stay.ir economic team. they need him in place. they've been the guys that have been selling tim geithner on staying at the white house. so anything that's going to undermine his position there is something that they are going to push back against. >> there seems to be also a protection they're trying to do of sort of the larger point of this book, errol, which paints a picture of a president and economic team that was either, at best, had no idea how bad it was or, at worst, in over their head. >> it seems as if the president is in over his head. they can't allow that to take hold with the electorate. the real target is not suskind itself but the republicans. they want it to be known they're tough and they'll respond. this a message from me to a message from the republicans running for president. >> shameless plug time. errol, we'll start with you. this is grading, a newspaper column anthology really fast. >> it's never been done before. the greatest newspaper klum columns. >> ever written.

geithner strictly rules out such attacks, the u.s. treasury secretary tried to convince ministers to beef up stimulus programs to fight the debt crisis. for some, that is not an option. >> we are not discussing the expansion of a non-member. >> he went on to say that the decision on paying greece the next tranche of bailout funds won't be made until october. the finance minister warned that it would be too late. without the payout, athens may have to default on its debt in months. >> for more on the meeting, i talked to our correspondent and asked her why the europeans and the europeans -- and the americans have differing view. >> the europeans want to save and consolidate budgets while americans ask for more stimulus programs and also europe. there are concrete ideas about how to improve the european bailout. but this idea was not very well received. first of all, they have to do their own -- they don't want any further discussions about further instruments because it could give the signal that -- the u.s. showed a closing of francs,

smooth lawyer told law would smooth comin talk to the good cop bad cop and this is what we saw tim geithner in europe try to get merkel to accept european tarp who are these american financial terrorism largely being allowed to rule the world and cause the destruction why kerry stole it but there are no. kerry voted cards again jamie dimon the c.e.o. of a bank is in a closed door meeting that we don't know about other than the fact that he threw a tirade to our regulators and to a central banker now think about the occupy wall street guys being arrested dozens and dozens of them and maced in the face for walking down the sidewalk here's a scene we dined in was he maced in the face no according to the reports no he wasn't these bankers the lloyd blankfein and jamie dimon of the world are able to me in closed door meetings with regulators and screech them now let's turn to this now if in this clip from the b.b.c. where alessio restante spoke to and he spoke some truth everybody in the mainstream media is now dismissing him because shock he loses his own money when he trades but max let's look

and geithner wins. >> why? >> the president said, i want a plan first to resolve and reopen citibank. let's start with them. once we do that right, we'll kill off fear. so it won't be a fear of another lehman-style -- >> you'll restructure citi, show how it can be done surgically? >> exactly. i want a plan for this and i want it now so i can see how it looks. that's middle of march. that's where the meeting ends. >> so what happens? >> geithner likes the stress test, that's just a preferred thing. >> stress test is just an accounting fraud. >> and that's clear to summers and romer? >> or anyone else on wall street watching it. >> they're delighted. a month later in the oval office, they're all there, except geithner. the president says, a huge month -- >> april '09. i left cnbc march '09 coming out of this whole thing fast money, expecting him -- >> everybody did. what about that citibank resolution plan? we're going to deal with it head on. christine romer looks at larry summers, oh, goodness, what should we s

captioning sponsored by macneil/lehrer productions >> woodruff: treasury secretary timothy geithner pressed european nations to take quick and decisive action to fix the continent's debt crisis. good evening. i'm judy woodruff. >> brown: and i'm jeffrey brown. on the newshour tonight, we get the latest on the actions and inactions of global finance chiefs, and look at what's next for europe. >> woodruff: then, from cairo, margaret warner recaps her reporting trip with a look at egypt's collapsing economy. in the last five days the stock market has been down every day and according toed egyptian media this is nonarab investors pulling their money out. >> brown: we talk to former vice-president dick cheney about his new memoir chronicling 40 years in american politics, and the state of national security today and more. >> i worry very much that we're still vulnerable to attack, if you have a group of terrorists who are dedicated to launching an attack, killing americans, and they don't care about surviving themselves. >> woodruff: david brooks and ruth marcus analyze the week's news. >> brown

large measure and this is from larry summers and timothy geithner. they talk about risk from hippocrates, do no harm. this is what in habits the president's moments of decisions in these first six or seven months of his administration. the fact of the matter is that, paul volcker, who also speaks in my book, says that if you go with that philosophy, you will not get much done. paul volcker was cutting off the money supply is to kill off inflation. the government's job when they are acting boldly means that they will probably do harm to some people. maybe government's role is to soften the blow to them. the real action that changes the american landscape will mean harm to someone. obama seems to be embracing that somehow. this will allow him to free himself for what he calls the legislator in chief. he is looking for a perfect

markets are gripped by greek contagion fears as tim geithner tells europe to do more to curb the crisis. >> dominique strauss-kahn said he made a moral error. >>> could china be facing a banking crisis of its own? we ask a construction bank. >> well, whether that's the case or not, investors have a lot to think about this monday and center stage. a meeting of the finance ministers friday failed to deliver any concrete solution to the greek debt crisis. with more on that in a moment. first a look at how the stock markets are faring and we are really seeing some dives there off by nearly 2%, the london ftse. getting on for 3% for the dak and cac 40. off by 1.6% is this eu finance minister's meeting and also another defeat for chancellor merkel in an election in a federal state in berlin in the capital which itself a federal state stinging review came after another weakening her merkel's authority as chancellor. >>> news from the swiss banking giant ubs. that lender has raised the tally of its loss on unauthorized trading to $2.3 billion. $300 billion more than it first reported. the share

but geithner did not specify when the obama administration will send the related bills to capitol hill. a recent survey shows... that a growing number of americans believe that asian countries are more important to the us... than the country's traditional allies in europe. oh jee-hyun reports. a new poll has found that more than 50 percent of americans think asia is more important than europe to their country's national interest. the transatlantic trends 2011 released on thursday,... which is an annual survey of american and european public opinion,... shows that 51 percent of americans feel that asian countries,... such as korea, china and japan... are more important to them than countries in the european union. the poll results also show that a generational difference of opinion has emerged,... with young americans viewing china more positively than older americans. this year's results are in contrast to results recorded in 2004,... when only 29 percent of americans viewed asian countries as important to america's national interest. experts say... the poll could mark a potential chan

the head of the group of finance ministers spoke after the meeting with geithner. >> different pointshis was not a decision-taking meeting we had with tim. it was a dialogue among friends, continuing from the one we had in marseilles, and preparing the one we will have the other day on a different continent. we are not discussing the increase or the expansion of the efsf with a non-member of the euro area. >> brown: that was followed by a question from a reporter. >> are you optimistic that maybe europe or the eurozone can speak a bit more with one voice? >> no. but we have to come back to verbal discipline. >> brown: geithner responded to pushback from several european ministers, saying: "of course your financial challenges in europe are within your capacity to manage financially. you just have to choose to do it." and he warned, "one of the starkest ways to emphasize the importance of europe getting on top of this is that you don't want the future of europe to rest in the hands of those who provide financing to the imf. today's meeting came a day after the world's major central bank

timothy geithner will be joining those european finance ministers at that very get-together. that's an indication of just how seriously the united states is taking europe's sovereign debt problems. cnn's jim bolden is in poland and joins with us a preview of what's going on there and what we can expect. i had there, jim. lagarde, fighting talk from the former french finance minister whoin tre who interestingly enough was trueing to draw a consensus there this time last year. >> she is looking for a consensus or a consensus statement out of the people meeting here over the next two days. what's so interesting really is that the euro zone finance ministers have been meeting for several hours. they kicked off very early on friday morning. the reason for that they wanted to have four or five hours of meetings with the euro group and go into the larger meeting with the others. it's going to be very important for the markets to get some sense that there is a sense that these people here will do something bold, some action, some words, maybe even more than words to go along with wha

tim geithner went over to europe talking about installing some kind of tarp program for these european banks so they don't go down that route we'll go down a lot with those if you look at if we if the i.m.f. needs more capital in order to bail out european banks the number one single largest contributor to the i.m.f. is the united states it's seventeen percent of the funding that is in the i.m.f. so tim geithner's over in europe talking about a bank bailout so for me to think that it can happen again here that that's just not reality yeah european central bank is in trouble but is so is the entire treasury of the united states that you know entirely there's a there's a lot of theories out there about what is best for this economy for the country and even for the world i want to put something up on that economist nouriel roubini said regarding a physicalist therapy and how it could actually bring about economic calamity followed by war he said quote i'm not predicting world war three but seriously if there was a. a global financial crisis after the first one then we go into depression t

timothy geithner met in poland friday. they discussed a european credit crisis and bailout plan for greece. greece's fiscal rehabilitation is not proceeding as planned. there's now speculation there may be no more international bailout. the finance minister did praise tax hikes and other austerity measures announced by greece this week. it is expected to bring immediate default by greece. they must strictly adhere to fiscal reconstruction plans. >> the continued full implementation of the adjustment program remains to ensure fiscal sustainability, safeguard financial stability and boost the greek economy. >> the finance minister also believes the government will get parliamentary approval for the bailout by end of next month, but growing public discontent about bailout for greece means it remains to be seen whether all 17 governments will get parliamentary approval. after the meeting, the u.s. treasury department issued a statement saying geithner urge them to a unified stance toward the region's economic problems. the sta

then details about that from secretary geithner and jacqueline. "washington journal" is live at 7:00 a.m. mr.. we will talk about the future of the postal service and with a reporter who just returned from afghanistan. a couple of live events to tell you about this morning. at 10:00 eastern, the joint economic committee holds a hearing on the federal debt in u.s. economy here on c-span. and on our companion network c- span 3, former white house budget officer alice rivlin testifies the for the senate budget committee at 9:30 a.m. eastern. to cut the deficit, president obama is calling for $1.5 trillion in new taxes as part of the $3 trillion deficit reduction package. speaking at the white house, he also said he would veto any plan that cut medicare benefits but did not raise taxes on the wealthy. this is 20 minutes. >> good morning, everybody. please have a seat. a week ago today, i sent congress the american jobs act. it is a plan that will lead to new jobs for teachers, for construction workers, for veterans, and for the unemployed. it will cut

i'm not excusing geithner because geithner has to be on his game every minute to try to create jobs.e. until europe gets its house together, it's difficult to do anything financially that will have impact. >> but let's listen to the interview that changed america. jim cramer. >> what we have done is put together -- the president has put together a package which we think has a powerful mix of tax incentives and investment that would be good for job creation and the economy right now. we're proposing to make sure there are ways to make sure it doesn't add to long-term deficits. and people will have different views about what's good for growth. and i haven't heard them, but people have a better idea, with the same impact on growth in the short term -- >> do you believe it's a, quote, very strong mix? is this something that's going to jolt america? >> no. the gop doesn't -- it's just going to block anything that involves more taxes. and second, the lot of the things that geithner wants to do and this president want to do seem a little bit unworldly versus people who are actually in busin

sumner and geithner say it was too easy. the company laid off its 1100 employees last month. >>> there's still a lot of questions after two dogs were shot while running loose in a san mateo park. kraig debro has spoken to the heartbroken owners of the dog and joins us live. good afternoon, kraig? >> reporter: good afternoon, tori. lori meadows park is clearly a park built for kids, two play structures and lots of grass. we spoke to several people who knew the jobs. the problem is no one who knew the dogs was here to stop what happened yesterday. >> we're sorry they scared anybody. but we don't think they should have been shot. >> reporter: jordan died at the park. bella was wounded but later euthanized. they are dogs but important to their owners. >> they were beautiful dogs. >> reporter: san mateo police shot both dogs yesterday at around 4:20 and lower -- at lori meadows park. jordan and bella slipped out of a gatant went to the park, frightened adults and several children with aggressive behavior. police were called and n

treasury said -- the treasury secretary, tim geithner, said europe was behind the curve. leaders of germany, greece, and france held emergency talks amid growing market fears that greece could soon default. could they come up with anything new? >> president sarkozy of france and chancellor merkle of germany moved to try to fix the crisis of greece and its debt. they are holding a conference call with the greek prime minister, seeking guarantees. in exchange for further aid, greece would slash its deficit. the fear that greece is heading for bankruptcy has savaged the markets and the banking sector. two french banks saw their ratings downgraded today on evidence they were exposed to great debt. there was start evidence at the european parliament that europe could be destroyed by the eurozone crisis. the mood was gloomy. one minister declared europe was in danger. another said the european union itself could not survive a breakup of the eurozone. >> we are confronted with the most serious challenge of a generation. it is a fight for what europe presents to the world, a figh

the treasury secretary timothy geithner said that europe was behind the curve. today, the leaders of germany, greece, and france held emergency talks amid growing market fears that greece could soon default. can they come up with anything? >> president sarkozy of france and chancellor merkel of germany set out to calm the markets that have been shaken by the fears that greet -- greece could default. we understand that the greek prime minister said that his country is determined to meet their obligation and qualify for fresh funding. for their part, the leaders of france and germany are convinced that greece belong in the eurozone but they had to stick to their spending targets. here is the problem, every day, greek workers are protesting, are resisting cuts and savings. the doubts will remain whether the greek government can deliver on its promises. at the european parliament today, there was warnings that europe could be destroyed by the eurozone crisis. the mood was gloomy. one minister said that the european union could not survive the breakup of the eurozone

>> summers, geithner, orszag, christina romer.em sat with me hour after hour for interviews. >> larry summers say -- attributed to me is a combination of fiction, distortion and words taken out of context. timothy geithner says "reports about this book bear no resemblance to the reality we lived." >> all of their -- >> that's not a soft walkback. >> no, no, well, it is if you read the book. the fact is on timothy geithner, for one, he has extensive responses to everything in the book that is in the book. what we did is we had an interview prior to publication. 35 minutes. we went through letter and verse. he has a very full explanation for what's in the book. he offers a denial, but not really a denial. if you read that, you'll find that -- >> a combination of fiction, distortion and words taken out of context. larry summers. >> larry summers is another example, larry and i talked many times. at the end of the day, larry's speaking about a specific thing. you should be more specific -- >> i'll come to that. in the book, you allege

treasury secretary timothy geithner's comments over the weekend. at an imf meeting in washington he said europe's sovereign crisis is the most serious issue facing the global economy but he reiterated the united states' interest in lending europe a hand. >> europe is facing -- and i should say before you talk about europe, you know, it's worth noting that we have a huge direct stake in europe resolving this. not just through the dollar funding the feds providing them and through the imf, but of course we have a huge strategic interest, too, because we don't want to see europe weakened by a protracted financial crisis. not in the interest of the united states to see that happen so we have a strong interest in helping them through this. >> let's take a look at how european stock markets are moving right now this minute. here's where the leading indices stand 93 minutes, roughly, into the monday trading. we are still seeing losses but just scant ones. off by 0.7 for london ftse. dax is gaining 1.5%. zurich smi helped by the gains for ubs, not too much

the treasury secretary timothy geithner said that europe was behind the curve. today, the leaders of germany, greece, and france held emergency talks amid growing market fears that greece could soon default. can they come up with anything? >> president sarkozy of france and chancellor merkel of germany set out to calm the markets that have been shaken by the fears that greet -- greece could default. we understand that the greek prime minister said that his country is determined to meet their obligation and qualify for fresh funding. for their part, the leaders of france and germany are convinced that greece belong in the eurozone but they had to stick to their spending targets. here is the problem, every day, greek workers are protesting, are resisting cuts and savings. the doubts will remain whether the greek government can deliver on its promises. at the european parliament today, there was warnings that europe could be destroyed by the eurozone crisis. the mood was gloomy. one minister said that the european union could not survive the breakup of the eurozone

honestly, geithner was one of the ones who want the bailout.sn't particularly popular among a number of people. now, he is saying you guys got to get this act together. the euro was very difficult to put through. the idea with a group of very diverse countries could get together and actually have, not only a common currency, but one that would back, had the ability to back buying bonds, making those kinds of decisions.... >> so in retrospect? >> the euros, i don't think so. this is a very -- this would be almost impossible i think. and geithner does have some fans britain, asia and of course they are not part of europe. >> gregg: imsf is warning that united states and europe is facing a double-dip recession which is not news to us yet some of the developing countries in the world seem to be the driving force behind economic growth. >> right. >> gregg: let's put this up on the screen, china their gdp is 9.35% growth. india, 7.8%. south africa -- what are they doing right or the conditions they are in incomparable? >> the conditions are a bit inc

in louisville, kentucky, today, treasury secretary timothy geithner pushing the president's job plans but aware of a looming global crisis nearly 6,000 miles away. greece facing bankruptcy after a generation of lax government spending, and if greece collapses, it could take down other european economies and leave american banks with 41 billion in losses. and because of the worries, the average american 401(k) at more than $109,000 lost $7,000 in just the last week. $7,000. that's a huge loss. >> very directly very quickly when stock prices fall their pensions fall. >> reporter: do you believe time is running out? >> i think they have time but not very much time. >> reporter: he is pushing world leaders to act quickly aware our economy still hasn't recovered. the last time we were in recession it was a good year into it before many acknowledged that we were in one. as you sit across from me today, can you assure us that we're not in another recession already? >> well, i think for most americans they feel like we've been in a recession the entire time and it still feels very hard and th

so why is treasury secretary tim geithner calling it's a bargain?spondent dennis neil is here. why is he saying that? >> it's an astounding thing to say. harvard is allies with obama and the liberals. they say $200,000. $450 billion package, 2.2 million jobs, add in the $800 billion in the stimulus that didn't create a single job. actually $750,000 per job. why is that this these will pay only $50,000 per person actually but cost $200,000? overhead, because government employees are union workers. unions represent 40% of the government workforce and a big part of federal workers, and federal workers are scraping off the biggest part of that $200,000 and putting it in the bureaucracy instead of giving it straight to people. you know, what they ought to do is give out debit cards and send them out in the mail and get rid of all the administration, greta. >> greta: you know, dennis, i mean it's astounding, $200,000 per job. another thing, you can play with numbers, this harvard economist, you know, who has done this mathematics, you know, they come up w

the spectacle of geithner racing to poland, u.s.ks is quite unnerve. i would have to say in mentioning the fed, when you heard the rhetoric this week from boehner and the president, you get the feeling the gridlock is coming back in washington. the fed may be left to do the heavy lifting. of all the big stories next week, the biggest may be the fmoc. i wouldn't be shocked to see the fed unveil new policies. >> would that be treasonous. sorry, cheap shot. what more could the fed do politically, a lot on the right questioning what the fed has done so far. how many more tools does it have in its toolbox. >> two things they could emphasize purchases of longer term securities driving rates down further. number two, this is very controversial, i think they will at least debate the idea of getting more liberal on their inflatii inflation target. >> diane, what do you think. >> i think operation twist named in 1961 after chubby checkers version of the twist is get that twist in duration, the longer term thing. that's what we're seeing price

geithner conceded the united states is not in a strong situation to lecture europe about its economic> a packaging era has led to a major drug company to issue a nationwide recall of its birth control pills. the company says the mistake obscures the expiration date and tablet orientation on many packages and could lead to incorrect dosages and unintended pregnancies. >>> security concerns at pro football games has led to recommend patdowns at all checkpoints before stadium games. >>> and for the first time nasa astronomers have spotted a planet that has two suns. they're calling the planet tatuoin after a fictional planet in "star wars." >>> the supreme court delayed the execution of a texas inmate dwayne buck while his case is reviewed. he was within hours of becoming the 236th person executed on rick perry's watch. >> in the state of texas, if you come into our state and you kill one of our children, you kill a police officer, you're involved with another crime and you kill one of our citizens, you will face the ultimate justice in the state of texas, and that is you will be execute