Archive for Secretary of Treasury Geithner

Tim Geithner won't leave until 2013


Treasury Secretary Tim Geithner's not going anywhere for a little while:

(Reuters) - "Geithner has indicated that he will stay on through inauguration and he will be, obviously, a key participant in the negotiations around the so-called fiscal cliff issues," the White House spokesman told reporters in press briefing.


Quickie- Tim Geithner "confident" he won't be serving a second term


Today's Quickie:

I'm glad he's so confident about this.

Via the L.A. Times:

Treasury Secretary Timothy Geithner says he's "confident" he won't be serving a second term, even if President Obama is reelected.

"He's not going to ask me to stay on, I'm pretty confident," Geithner told Bloomberg Television on Wednesday. "I'm confident he'll be president. But I'm also confident he's going to have the privilege of having another secretary of the Treasury.

That was today's Quickie. Was it good for you?


Timothy Geithner to stay at Treasury


Via Politico:

Treasury Secretary Timothy Geithner will stay at his post through the fall and President Barack Obama’s reelection campaign, the Treasury Department announced Sunday.

Via Paul Krugman:

You won’t be surprised to hear that I am very much in sympathy with Drew Westen’s lament about Obama’s unwillingness or inability to change the narrative. I went back to look at my own reactions to the inaugural speech; I’m sorry to say that my misgivings at the time have proved all too justified.

The one thing I might say is that we shouldn’t really wonder what happened to Obama — he is who he always was. If you paid attention to what he actually said during the primary and the election, he was always a very conventional centrist. Progressives who flocked to his campaign basically deluded themselves, mistaking style for substance. I got huge flack for saying that at the time, but it was true, and events have borne it out.

Via me:

I've been saying the same thing as Krugman just pointed out since 2007.  That said, I was a huge supporter once President Obama won the primary. I will vote for him, because the alternative is unthinkable, but I never once thought he was anyone or anything different than the president many are complaining about today. Well, except for that "look forward, not backwards" thing.

He's a good man with whom I disagree often, and also greatly appreciate in a number of ways. But there was never a doubt in my mind that he was and is a centrist.


Treasury Secretary Timothy Geithner Considering Leaving After Budget Deal


No final decision yet, but look what Bloomberg is reporting:

Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter. [...]

Geithner, 49, has told associates that he needs a break from government service after dealing with the turmoil that followed the collapse of Wall Street firms including Bear Stearns Cos. and Lehman Brothers Holdings Inc., first as president of the Federal Reserve Bank of New York and then as Obama’s treasury secretary.

Family considerations also are playing a role in Geithner’s deliberations, according to the people. His son has decided to finish his final year of high school in New York.

I'm not anticipating too many sniffles over this one.


Poll-itics: Americans Need to Read Up on the Debt Limit edition


Do Americans read? And if they do, do they comprehend what they read? And if they don't, they should start educating themselves before voting.

Via Taegan:

A new Reuters/Ipsos poll finds 71% of Americans "oppose raising the country's debt limit even though failure to do so could hurt America's international standing and push up borrowing costs."

The poll underscores the tough task ahead for lawmakers as the debt nears its current ceiling of $14.3 trillion. Treasury Secretary Timothy Geithner has warned that a failure to raise the borrowing limit in the coming months could lead to "catastrophic economic consequences."

An uninformed electorate is bad for this country. In this case, it could be disastrous, if Congress takes its cues from polls like this.


Obstruction 101: GOP leader rejects White House terms for deficit commission


By GottaLaff

This Party of No thing got old about a year ago. Keep it up, Rushpubstructionists, because the White House is finally hitting back.

Check out the latest brick wall courtesy of The Boehner:

House Minority Leader John Boehner on Friday rebuffed a request from the Obama administration to work with Democrats to rein in soaring budget deficits, aides said. Instead, the Ohio Republican argued, the White House's plans for a bipartisan commission to address the deficits should be scrapped and redesigned.

Boehner told Treasury Secretary Timothy F. Geithner in a telephone call that Republicans would refuse to participate on the 18-member commission unless it were comprised equally of Republicans and Democrats, and unless all GOP members were appointed by their caucus leaders, according to a top Boehner aide.

As Rachel and Keith remind us daily, these tin-eared, negative, filibuster-happy, naysaying Party of Wall Streeters are siding with the banks and Big Biz against "ordinary" Americans. And they're admittedly blocking everything. That's their strategy.

Good luck with that.

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House Dem: 'Growing' liberal consensus to dump Geithner


By GottaLaff

Rep. Peter DeFazio (D-Ore.) says that a whole lotta libs are not thrilled with Tim:

A Congressional Progressive Caucus (CPC) member said there's "growing consensus" among liberals that Treasury Secretary Timothy Geithner should step down. [...]

DeFazio said that lawmakers have not yet drafted a plan to remove Geithner. The lawmaker also took aim at top Obama economic adviser Larry Summers for furthering many of the same policies favored by Geithner.

"We need a new economic team," said DeFazio.

Ouch. President Obama has been nothing but supportive of his team... so far.

If they lay a hand on my geek-crush Peter Orszag, they better watch out. I'll get really, really cranky.

Office of Management and Budget Director Peter Orszag testifies before the Senate Budget Committee on Capitol Hill March 10, 2009 in Washington, DC. Orszag sparred over budget numbers with Republican members of the committee.  (Photo by Chip Somodevilla/Getty Images) *** Local Caption *** Peter Orszag