Geithner convenes first Plunge Protection Team meeting as chairman -Reuters

Discussion in 'Economics' started by bond_trad3r, Feb 15, 2009.


    WASHINGTON, Feb 5 (Reuters) - U.S. Treasury Secretary Timothy Geithner will convene his first meeting as Chairman of the President's Working Group on Financial Markets on Thursday, but the expanded gathering also will include top banking regulators and White House economic adviser Larry Summers.

    The group, created in the aftermath of the 1987 stock market crash to ensure orderly and efficient markets, is led by the Treasury and normally includes the heads of the Federal Reserve, the Securities and Exchange Commission and the Commodity Futures Trading Commission.

    When Summers held senior positions at the Treasury Department in the 1990s, the secretive group became colloquially known as the "Plunge Protection Team."


    In attendance:

    Fed Chairman Ben Bernanke
    new SEC Chairman Mary Schapiro
    acting CFTC Chairman Michael Dunn
    Federal Deposit Insurance Corp Chairman Sheila Bair
    Comptroller of the Currency John Dugan
    Federal Housing Finance Agency Director James Lockhart
  2. achilles28


    "The Plunge Protection Team doesn't exist"

  3. P lanned

    P overty

    T eam

    "Mission (soon) Accomplished!" :eek:
  4. My kids think, me and my wallet, as a plunge protection team.
  5. ummm... perhaps they should meet monday or tuesday
  6. Watch.....

    D.E. Shaw