The skirmishing is almost over, the main armies almost assembled. Ahead is a great battle over the future of our financial system that could have more profound consequences than the Dodd-Frank legislation of 2010.
Mexican central bank Governor Agustin Carstens , nominated to lead the International Monetary Fund, criticized European nations for publicly backing French Finance Minister Christine Lagarde before all the candidates are known.
Treasury Secretary Timothy F. Geithner smoothed over differences on Germany’s unilateral ban of naked short-selling and said the U.S. and Europe are in “broad agreement” about the need for tighter market regulation.
Treasury Secretary Timothy F. Geithner takes comfort from the government’s ability to borrow at low interest rates as the budget deficit hits a record high. “There’s a lot of confidence” in America’s capacity to meet its commitments, he told Bloomberg Television.
International Monetary Fund Managing Director Dominique Strauss-Kahn told Greeks last month not to fear his institution. As money begins to flow, it may be the IMF that starts worrying about lending to Greece.
As a seven-year-old in Cuba, Carmen Reinhart memorized the routes of ships carrying silver from Peru and Bolivia to Spain. By 16, she had moved to Miami and got a job at a Sears Holdings Corp. store reviewing credit applications and payment records.
Dominique Strauss-Kahn resigned as the 10th leader of the International Monetary Fund, kicking off a contest for his successor as Europeans seek to retain the job amid a lack of unity among emerging-market nations.
Christine Lagarde won the support of emerging-market nations for her successful bid to become managing director of the International Monetary Fund by promising them greater influence at the global lender. Now she’ll be under pressure to deliver.