recentpopularlog in

jerryking : tim_geithner   5

Yale to Build Tool Offering Real-Time Lessons on Financial Crises -
May 9, 2017 | WSJ | By Gabriel T. Rubin.

Yale University will launch an online platform to provide real-time support to policy makers dealing with financial crises, with the help of a $10 million gift from business leaders and philanthropists Bill Gates, Jeff Bezos, Bloomberg Philanthropies and the Peter G. Peterson Foundation.

The gift represents a major expansion of the Yale Program on Financial Stability, a degree-granting program in the university’s school of management that aims to train early- and midcareer financial regulators from around the globe.

The new resources will support a small staff of researchers, led by Professor Andrew Metrick, as they build a database of “lessons from hundreds of interventions from past crises,” the university said. The effort is the first of its kind, according to Yale, and reflects a need for more research on “wartime” situations, rather than the preventive sort of regulatory research done by central banks around the world. Central banks often avoid extensive crisis preparations out of reluctance to promote moral hazard, leaving policy makers to reinvent the wheel each time a new crisis arises.....Mr. Geithner, who serves as the chairman of the Program on Financial Stability, said that he and other policy makers would have been able to act faster and with greater confidence during the financial crisis with access to the tools that Mr. Metrick’s team will build.

“There were probably four or five periods when the crisis was escalating, the panic was spreading, sitting on the phone for 20 hours a day trying to figure out how to do things,” Mr. Geithner recalled. “And we hadn’t had to do some of those things since the Great Depression. That took us a lot of time, and that can be costly.”

The open online platform will include descriptions of specific interventions—for example, the use of a “bad bank” to hold distressed assets—and will detail what did and didn’t work well in each case.
Yale  Colleges_&_Universities  crisis  regulators  Walter_Bagehot  central_banks  real-time  databases  lessons_learned  policy_tools  Peter_Peterson  reinventing_the_wheel  policymakers  confidence  economic_downturn  decision_making  speed  the_Great_Depression  crisis_management  crisis_response  Tim_Geithner  moral_hazards  financial_crises 
may 2017 by jerryking
Geithner to join private equity firm - WSJ.com
November 16, 2013 | WSJ | Associated Press.

Warburg Pincus said that Geithner would advise the firm on strategy, investing, investor relations and other topics. The New York-based firm has been involved in buyouts of such well-known companies as luxury department store chain Neiman Marcus and contact lens maker Bausch + Lomb....Geithner has spent most of his career in government, although he had an early stint at Kissinger Associates, the consulting firm formed by former Secretary of State Henry Kissinger. Geithner joined the Treasury Department in 1988 and served as undersecretary for international affairs during the Clinton administration. He worked at the International Monetary Fund from 2001 until 2003 before being named president of the New York Fed.

Private equity firms pool money from clients such as pension funds and other institutional investors to buy companies or stakes in companies. They try to improve the financial results of a company with the goal of reselling it at a profit.
Second_Acts  private_equity  Wall_Street  Tim_Geithner  U.S.Treasury_Department  Warburg_Pincus 
november 2013 by jerryking
Bailout overseer Geithner wisely gives the bank jobs a miss
Nov. 18 2013 | Reuters Breakingviews via - The Globe and Mail | by Daniel Indiviglio
Bailout overseer Geithner wisely gives the bank jobs a miss
Second_Acts  private_equity  Wall_Street  Tim_Geithner  U.S.Treasury_Department  Warburg_Pincus 
november 2013 by jerryking

Copy this bookmark:





to read