WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Wednesday he would consider forcing out chief executives of banks that receive government bailouts if they were not managing their businesses properly.
In an interview with CBS, Geithner said economic recovery depends on a financial system that effectively provides credit, and the government would hold companies receiving public aid accountable.
When asked whether he left open the option to pressure a bank CEO to resign, Geithner responded, "Of course. Of course."
Read on.
1 comment:
It's really simple if a Bank or Company borrows taxpayers money we get shares and a voice in any all decisions. Like any share holder we can ask a CEO to step down. Each Bank and Company that borrows billions faces this. Notice how Ford didn't take the money and we have no say in who their CEO choice is. Remember when we go to the Bank for a loan we have to follow their rules now they have to follow ours.
Post a Comment