Thursday, January 03, 2013

Geithner Steps Down

Timothy Geithner is calling it quits:
Treasury Secretary Timothy F. Geithner plans to leave the administration at the end of January, even if President Barack Obama and congressional Republicans haven’t reached an agreement to raise the debt ceiling, according to two people familiar with the matter.

After giving in to Obama’s previous entreaties to stay as long as needed, Geithner has indicated to White House officials and Wall Street executives that he is unlikely to change his departure plans this time, increasing pressure on the president to name his successor at Treasury, said the people, who requested anonymity to discuss the private talks.

Geithner, 51, is the only remaining member of Obama’s original economic team and was a key figure in the taxpayer-funded bailouts during the 2008 financial crisis. He’s also had a principal role in negotiations with Congress on the budget deal and in past deliberations over the debt ceiling.
Maybe now he'll be in a better position to explain his decisions...

BTW, this is my ten thousandth post on my blog! As this is sort of a milestone, I've decided to give myself an award:




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