President Barack Obama needs a new Treasury secretary. Timothy Geithner has made clear that he intends to leave. Furthermore, it is time to bring some fresh thinking to two vital issues: fiscal policy and financial-sector oversight.
Former Federal Reserve Chairman Paul Volcker and former Citigroup Inc. co-chairman John Reed have been named to a Federal Deposit Insurance Corp. panel that will help the agency map strategy for unwinding too-big-to-fail financial firms when they collapse.
The executive suite at Citigroup Inc.’s headquarters in New York where Michael Corbat has his office hasn’t been renovated since its previous occupant, Vikram Pandit, vacated the premises in October 2012.
Kirkland & Ellis LLP and DLA Piper LLP worked on the deal to take private Active Network Inc., a company that manages online registration for marathons, business conferences and other events. Vista Equity Partners is buying Active for about $1.05 billion in cash.