Geithner issues U.S. 'mea culpa' for crisis

APR 22, 2009
Treasury Secretary Timothy Geithner says the United States bears a substantial share of responsibility for the global economic crisis, but the problems that have made the crisis so acute are worldwide. Geithner says: "Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through." In a speech to a Washington audience, Geithner laid out the elements of a recovery plan that the U.S. will be pushing at finance meetings scheduled to begin Friday.

Latest News

Allworth deepens tax-advisory push with $1.1B Sachetta acquisition
Allworth deepens tax-advisory push with $1.1B Sachetta acquisition

The PE-backed RIA makes its first major move since bringing in a new capital partner, adding a Massachusetts advisory firm alongside a second East Coast RIA

Hightower Signature Wealth grows by $2.5 billion with Stearns deal
Hightower Signature Wealth grows by $2.5 billion with Stearns deal

Stearns Financial Group's addition brings 30 advisors and three decades of North Carolina planning experience to the platform.

Edward Jones backs senior protection rules after $3 million account freeze
Edward Jones backs senior protection rules after $3 million account freeze

An 86-year-old from Dallas tried to withdraw funds from his account, but Edward Jones invoked a FINRA-backed temporary lockout before he eventually left for Merrill Lynch.

iTP Partners launches $3.5 billion RIA on Cetera's Blueprint
iTP Partners launches $3.5 billion RIA on Cetera's Blueprint

The veteran-led advisory firm moved nearly 50 advisors from Osaic to Cetera this week, launching a new equity-ownership RIA with two key footprints in the East Coast.

Congress can help long-term mutual fund investors keep more of their money working
Congress can help long-term mutual fund investors keep more of their money working

If passed into law, the GROWTH Act would address a question of fairness for conscientious savers doing exactly what wealth management experts advise them to do.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income