Tag Archives: Timothy Geithner

Malaysia Joins Negotiations / More on the Coming U.S. Elections / Ikats of Central Asia

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The U.S. supports Malaysia’s participation in upcoming Trans-Pacific Partnership negotiations. Also in Malaysia, women entrepreneurs teach others how to “bootstrap their startups.” The U.S. midterm elections are next week; find out how the youth vote and the members of the tea party might influence them. And, finally, learn about the ikats of Central Asia.

Malaysia Joins Negotiations
The United States supports the addition of Malaysia, its 16th-largest trading partner, to negotiations for the Trans-Pacific Partnership, and will continue to deepen its strong economic partnerships across the Asia-Pacific region, says U.S. Trade Representative Ron Kirk.
Kirk, pictured at left with Malaysian Prime Minister Najib Razak and U.S. Treasury Secretary Timothy Geithner, says that Malaysia’s inclusion in the negotiations will contribute “to the development of the high standard, 21st-century, regional trade agreement we are seeking.”

Bootstrap Startups in Malaysia
Entrepreneurial women are sharing their experiences, best practices and creative problem-solving techniques to build more successful businesses in a forum created by Warisan Global and the U.S. Embassy in Malaysia.

Rocking the Youth Vote
Young American voters registered in numbers higher than expected to vote in the November midterm elections, continuing a trend of increased political participation by young U.S. citizens.

Election 2010, Is it Tea Time?
The tea party movement is a small but enthusiastic group of American voters who share a frustration over U.S. economic policies. Though it makes up only a small fraction of the U.S. electorate, the tea party is playing an influential role in the 2010 midterm elections.

Republicans to Gain House Seats
Republicans and Democrats are campaigning feverishly in the final days before the nationwide congressional elections November 2 and most experts expect the Republican Party will gain seats in the U.S. House of Representatives. It is uncertain whether these gains will be enough to turn the House majority from Democratic to Republican.

An Exhibit of Asian Ikats
The spectacular patterns and vivid colors of the ikat fabrics, a status symbol of 19th-century Central Asia, are on display at the Textile Museum’s newly opened exhibition, Colors of the Oasis: Central Asian Ikats. The word “ikat” derives from a Malay term meaning “to tie.” Sumru Belger Krody, right, the curator of the exhibition, says ikats were “a glue in many spheres of life, from political to economic to social” and that one reason for the prestige of the fabrics is the difficult of making them.

A New Fund for Women / Clinton’s East Asia Trip / Cows to Kazakhstan

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Secretary of State Hillary Rodham Clinton announces a new $44 million fund devoted to women’s empowerment and preps for her upcoming trip to Asia. The world’s major economies come to an agreement on currency. Among mobile phone users, there is a major gender gap. Learn about the craft of Lowcountry basket-weaving. And, finally, find out why the U.S. is shipping cows to Kazakhstan.

A $44 Million Fund for Women
Secretary of State Hillary Rodham Clinton announced that the Obama administration will commit nearly $44 million to fund women’s empowerment initiatives around the world in order to advance U.N. Security Council goals of integrating women into international peace and security efforts. Speaking at the Security Council, Clinton, right, said that the largest portion of the U.S. funding – $17 million – will support civil society groups in Afghanistan that focus on women, who she said are “rightly worried that in the very legitimate search for peace their rights will be sacrificed.”


Clinton to Travel to East Asia
Secretary of State Hillary Rodham Clinton plans extensive talks with leaders and senior officials from at least eight East Asian and Pacific nations during a 13-day trip to the region to show U.S. engagement on a range of issues. She will also address the East Asia Summit in Hanoi.

An Agreement on Currency
Only two weeks after failing to resolve differences at a meeting in Washington, financial officials of the world’s major economies agreed to avoid conflicting currency interventions and, in principle, to reduce trade imbalances.

A Mobile Gender Gap
A gender gap is preventing approximately 300 million women from taking advantage of the potential of mobile phones to improve conditions for the world’s poor.

Lowcountry Baskets on Display
The weaving of coiled baskets is a craft that was brought from West and Central Africa to the American Colonies more than 300 years ago and is still passed from generation to generation among the Gullah/Geechee people of South Carolina and Georgia.

Cows for Kazakhstan
Under an agreement between a U.S. company and the Kazakh government, the first shipments of pregnant heifers have begun making the trip from Fargo, North Dakota, to Astana, Kazakhstan. The goal is to upgrade Kazakhstan’s beef breeding stock and reinvigorate its agricultural industry by shipping cattle. In Kazakhstan, a once-strong cattle industry that sent much of its beef to Russia went into decline after the fall of the Soviet Union. A dozen flights between North Dakota and Kazakhstan are scheduled by early December, each shipping nearly 170 heifers. At left, a heifer is packed for shipping.

Day 63: President’s press conference again focuses on the economy

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Bonjour! Your First 100 Days author is back from her French vacation and would like to thank her friend Stephen Kaufman for helping keep the blog updated.

Before I left on vacation, I wrote about Americans’ outrage over bonuses awarded to executives at American International Group (AIG). I quickly learned that that outrage extends across the Atlantic. Although my French is not great, even I could tell that stories of AIG, Treasury Secretary Timothy Geithner and President Obama dominated the headlines.

In his second prime-time press conference March 24, the president mirrored that outrage. “I’m as angry as anybody about those bonuses that went to some of the very same individuals who brought our financial system to its knees,” he said. But the president said that “the rest of us can’t afford to demonize every investor or entrepreneur who seeks to make a profit.”

The president highlighted recent steps to add new jobs, strengthen banks and stabilize mortgage rates. Throughout his press conference, Obama stressed that improving the economy will take time and Americans need to be patient. “There are no quick fixes.”

Check out the transcript of Obama’s news conference on America.gov.

Day 55: Obama calls AIG decision to award bonuses an “outrage”

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News of insurance company AIG – which has received billions of dollars in aid from the U.S. government – giving employees millions of dollars in bonuses, has angered Americans as well as many overseas. It also has angered President Obama.

Describing the company as “a corporation that finds itself in financial distress due to recklessness and greed,” President Obama said he has asked Treasury Secretary Geithner to “pursue every single legal avenue to block these bonuses.”

“I want everybody to be clear that Secretary Geithner has been on the case,” the president said.

The situation with AIG underscores a need for overall reform of the American financial system, Obama said, “so we don’t find ourselves in this position again.”

President-elect prepares to tackle financial crisis

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“How is Obama planning to handle the financial crisis that has affected almost all countries,” asks one America.gov reader.

Anyone following the U.S. presidential campaign knows the current financial crisis is among Americans’ top concerns, and they expect the next president to begin addressing their concerns on Day 1 of his term.

On November 24, President-elect Obama named key members of his economic team, including Timothy Geithner, his nomination for Treasury secretary, and Lawrence Summers, who will head the National Economic Council. Obama said that during an economic crisis “of historic proportions” he has sought advisors who offer “sound judgment and fresh thinking.” For more, see “President-elect Obama Announces Top Economic Advisers.”