Bailout

Geithner Defends Bank Plan

Treasury Secretary Tim Geithner didn't exactly arrive to a hero's welcome at the G7 summit in Rome after his poorly explained bailout plan tanked the stock market on Tuesday. Despite initial skepticism about the plan among foreign officials at the gathering, however, some said Geithner went a long way to winning them over during a six-hour meeting in which he went into greater detail on the Obama administration's approach to the crisis. "It's quite clear that the new American administration is getting into its stride, it wants to make a real difference not just for Americans but for the wider world," Alistair Darling, Britain's chancellor of the exchequer, told reporters.