Timothy Geithner, chosen for the post of Treasury Secretary by President-elect Barack Obama failed to pay federal taxes worth over 34,000 dollars for several years, a media report says.
Geithner had told President Barack Obama that he would leave his cabinet by this summer as his family has moved to New York.
When President Barack Obama and Dr Manmohan Singh had announced the initiative, Geithner had said that 'India is an emerging global power and a country with which the US has an increasingly important economic and financial relationship.'
Taking a cue from his hero Abaraham Lincoln, US President Barack Obama should discharge his economic commanders -- Treasury head Timothy Geithner, Fed chairman Ben Bernanke and SEC chief Mary Schapiro -- for not being up to the task, media moghul Steve Forbes has said.
Even as US President Barack Obama urged his countrymen to buy American cars, the United States Treasury Secretary on Monday insisted that the country is not in favour of protectionism and has a great interest in a growing open world economy.
The bankruptcy filing of Lehman Brothers on September 15, 2008 brings back the most vivid memories of the crisis.
The annual high-level strategic and economic dialogue between the United States and China began in Beijing on Thursday with Chinese President Hu Jintao calling for a "new type of relationship" between the two countries to break the traditional belief that big powers only have conflicts.
'Beijing is watching Obama's visit closely. While Chinese leaders have faced opposition from Japan and Vietnam, they view India's rise with caution.'
Barack Obama warned Americans on Monday that economic crisis could turn into catastrophe if the federal government does not take decisive action to create jobs and stabilise the financial sector.
The US expects India to play a greater role along with China and other major economies in tackling the current financial crisis and supports bigger responsibilities for it in the international financial institutions, Treasury Secretary Timothy Geithner has said.
Vikram Pandit-led Citigroup has came under fire from the US President Barack Obama and his administration for purchasing a $50 million jet plane.
Bailout dollars have different effects on the fortunes of the richest people in the world.
Breakfast meeting between Timothy Geithner, US treasury secretary, leading industralists due Wednesday.
Summers dogged by controversies over past views
Arun Jaitley is on a 10-day trip to the US.
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