Tim Geithner

A Semi-defense Of Geithner
February 16, 2009

In the last few days, two prominent financial columnists have suggested the reaction to Tim Geithner's speech last Tuesday was unfair. The Times Gretchen Morgenson says President Obama put Geithner in an impossible position with his persistent expectation-raising.

A Semi-defense Of Geithner
February 16, 2009

In the last few days, two prominent financial columnists have suggested the reaction to Tim Geithner's speech last Tuesday was unfair. The Times Gretchen Morgenson says President Obama put Geithner in an impossible position with his persistent expectation-raising.

Is The Rescue Plan Confusing On Purpose?
February 10, 2009

We asked Dean Baker, co-director of the Center for Economic and Policy Research, to assess Tim Geithner's rescue plan for the financial sector today. (Noam Scheiber already weighed in for us here.) What follows is a condensed version of our conversation. There are still an awful lot of details that we don't know, but I just can't help thinking that this is kind of a Rube Goldberg game to make it difficult to see what's going on. The basic story is that we know we have bankrupt banks, and rather than just take them over, it seems we're shuffling a lot of assets around and guaranteeing others.

Whither Geithner?
February 03, 2009

Pressed in his briefing about why Daschle and Killefer would have to go--but not Tim Geithner--Robert Gibbs' answer, more or less, is that Geithner has already been confirmed and sworn in. He also says flatly that the White House did not send Daschle a signal that he had to go, and the decision was his alone. --Michael Crowley

Hillary And China
February 02, 2009

Hillary lunches with Geithner today.

More Behind-the-scenes Geithner Influence
January 30, 2009

I have a piece out today about the subtle ways Treasury Secretary Tim Geithner has positioned his department to exert serious influence, despite what you've heard about Larry Summers, the top White House economic aide, dominating the policy landscape. Today's Wall Street Journal brings another data point (via Halperin): Obama has just named Mike Froman, his law school classmate and close confidant, to an intriguing joint National Economic Council/National Security Council appointment.

Geithner To Citi: No Plane For You!
January 28, 2009

I come not to praise Tim Geithner, but ... It's still too early to say he's changed the tone of the D.C.-Wall Street relationship. However--a few days ago Citigroup announced that, despite its multiple bailouts from the federal government, it was going ahead with plans to buy a $50 million corporate jet. That's a lot of coin, even for a corporate jet, and it was a clear challenge to Geithner's Treasury. Former Secretary Paulson and his staff would have waited to read the public response; if the media had splashed the news on Page 1, they might have acted.

Geithner Hits Back (briefly)
January 21, 2009

Tim Geithner has always won people over with his humble, self-effacing style--even people not necessarily disposed to like him. In my profile of him last fall, I described how he once even offered to trade parking spaces with an older Treasury colleague who'd been exiled to an out-of-the-way lot.

The Future Treasury Sec. Endorses ... Turbotax
January 21, 2009

Or maybe he's un-endorsing it. See this mildly amusing exchange between Chuck Grassley and Tim Geithner midway through the latter's confirmation hearing today:* Grassley: Did you use software to prepare your 2001 and 2002 tax returns? Geithner: I did.Grassley: Which brand?Geithner: Before I answer, I would say that this was my fault, not the software's… I used TurboTax perparer. Grassley: Did the software prompt you to pay self-employment taxes on your IMF income?

Geithner's Other Problem
January 14, 2009

I think Noam's right not to get worked up about Tim Geithner's tax problem. The Geithner problem I'm more worried about has to do with his oversight of Citigroup while helming the New York Fed. ProPublica's Jeff Gerth, who investigated Geithner's oversight of Citigroup, pretty much concedes in his piece that he didn't come up with anything very damning about Geithner himself, but he builds a strong case that the New York Fed fell down on the job when it came to Citigroup: [P]oor risk management and weak capital levels were central to Citigroup's undoing.

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