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Geithner to leave Treasury on Friday: source

US Treasury Secretary Timothy Geithner, who steered the administration of President Barack Obama through the financial crisis, will step down from his post Friday, a source told AFP on Tuesday. Geithner had said he would leave the department after the conclusion of Obama’s first four-year term. The president was sworn…

New York Fed: Student loan debt now over $1 trillion

The Federal Reserve Bank of New York claimed in a published report Wednesday that student loan debt in the U.S. has now surpassed $1 trillion, for the first time ever exceeding the total amount of credit card debt held by Americans. Due to the rising cost of education across the…

Official: Billions missing in Iraq may be ‘largest theft of funds in national history’

Approximately $6.6 billion in cash was likely stolen after being flown to Iraq during the months that followed the U.S.-led invasion, Pentagon officials said recently. Stuart Bowen, the U.S. Special Inspector General for Iraq Reconstruction, told The Los Angeles Times that the sum just might be “the largest theft of…

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