Treasury Secretary Timothy Geithner drew sharp criticism from Democrats and Republicans alike Wednesday for his role in the $180-billion-plus taxpayer bailout of insurance giant American International Group, with some challenging his claim that he played no role in withholding information about AIG deals with business partners. When President Barack Obama picked the then-New York Fed chief on November 24, 2008, “I withdrew from monetary policy decisions…and day to day management of the New York Fed,” Geithner told a congressional panel. But one member after another lit into Geithner, venting rising public frustration over bank bailouts and bonuses as Wall Street firms recovered from the recession but unemployment remains at 10 percent.

T reasury Secretary Timothy Geithner on Wednesday denied he played a role in withholding information about deals that sent billions of taxpayer dollars from the bailout of American International Group Inc. AIG-N to big banks. When President Barack Obama nominated the then-New York Fed chief, “I withdrew from monetary policy decisions…and day to day management of the New York Fed,” Mr

A GF Management Ltd. AGF.B-T reported Wednesday a fourth-quarter profit of $45.5-million, reversing a year-ago loss, as it boosted its divided by four per cent. The Toronto-based investment management firm said its net income amounted to 50 cents per diluted share for the period ended Nov

T oyota’s suspension of U.S. sales on an unprecedented scale to fix faulty gas pedals deals a blow to the auto maker’s reputation for quality and endangers its fledgling earnings recovery. The suspect parts are made by a U.S

I t’s not just because of the Olympics, but they help. Vancouver is expected to top economic growth among Canadian cities this year, the Conference Board of Canada predicted Wednesday. The boost from spending related to the 2010 Winter Olympics is a chief reason, but a rebound in housing construction and consumer spending will also spur growth, the report said.

O racle ORCL-Q says its $7.4-billion (U.S.) purchase of Sun Microsystems JAVA-Q has been completed. The closing of the all-cash deal comes one week after the European Union gave its long-awaited approval, saying the combined company will not significantly affect competition in its markets. Business software developer Oracle said it was buying Sun, a struggling computer server and software maker, last April

One of the best currency pairs to trade is the Swiss Franc (CHF) and US Dollar (CHF). In times of financial crisis, investors tend to dump USD and flock to CHF. The main reason for this is that CHF is considered to be a reliable currency.