US hardens stance on Chinese currency

The Obama administration said on Thursday that it had “serious concerns” about the value of the renminbi, but stopped short of accusing China of manipulating its currency in a closely watched report to Congress. The Treasury toughened its language on China in its semi-annual report on exchange rate policies

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Geithner vs. the Regulators: A Time for Swearing

The expletive-laden rant Treasury Secretary Tim Geithner unleashed during a closed meeting with regulators on Friday, July 31, has players in Washington and on Wall Street wondering one thing: What got the usually mild-mannered Geithner so incensed? Establishing a new regulatory framework for the financial markets is not the kind of politically charged, life-or-death issue that should drive a normally discreet Cabinet member to go on a blue streak in front of dozens of officials. But Geithner and the Obama Administration have more at stake in getting reform pushed through Congress by the end of the year than it may seem.

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The Pros and Cons of Reverse Mortgages

While the recession hasn’t spared any age group, it’s been particularly brutal for older Americans who were counting on their nest eggs to last through their retirement years. To supplement their stash, an increasing number of seniors are turning to reverse mortgages, which function essentially as a cash advance on their home equity, repaid only when they sell their home or die

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