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.
A (mostly) Defense Of Tim Geithner
January 14, 2009
No question that Geithner's failure to pay payroll taxes on his IMF income was a bone-headed move. But I think the headline of Maureen Dowd's column--"Tim Geithner! Why Are Rich People So Cheap?" gets it pretty wrong. Look, Geithner certainly isn't poor. But he's spent his life as a civil servant and bureaucrat, so he's not exactly rich either. After about a decade at Treasury, he reached the rank of under secretary in the late '90s, meaning he probably never made more than $150,000-$175,000 per year there, and often much less.
Some Final Backstory On Geithner
November 24, 2008
I've tried to lay out the reasons why Obama would want Tim Geithner as his Treasury secretary. Now that the day of the big announcement is here, I figured I'd address the "how" of it, too. My sense is that two Obama transition officials--Michael Froman and, to a lesser extent, Sonal Shah--played important roles. Froman, a friend of Obama's from law school, started off as an economic aide in the Clinton White House, then became a deputy assistant secretary on Treasury's international side around the same time Geithner was promoted to a similar position.
Why The Geithner Pick Is Even Better Than You Think
November 22, 2008
A few weeks ago, I wrote a profile of Tim Geithner that explored his relationship with Larry Summers during their eight years together at Treasury in the 1990s. The two men had formed such a productive partnership that I wondered if there were some way of reuniting them under Obama.
Clinton And Geithner
November 21, 2008
It's official: NYT is reporting that Hillary Clinton will be secretary of state. And, in an announcment everyone thought would happen before the SOS pick, NBC is reporting that Tim Geithner will be tapped as treasury secretary Monday. --Seyward Darby
November 19, 2008
In the spring of 2007, long before Sarah Palin became a feminist icon, before Jeremiah Wright and Bill Ayers reared their unreconstructed heads, before Hillary Clinton ever questioned his readiness to be president, Barack Obama's greatest nemesis was a 29-year-old paralegal named Joe Anthony. Anthony had attracted tens of thousands of fans to a MySpace page he'd set up for Obama—a testament to the legions of new voters the candidate was inspiring. But, back in Chicago, all Anthony's site inspired was indigestion.