• 25 Jan 2013 at 4:10 PM

Tim Geithner Will Not Replace The Beard

You won’t have Tim Geithner to kick around any more. The little guy and now-former U.S. Treasury Secretary won’t be pursuing a D.C. sequel.

Geithner firmly ruled out ever serving as chairman of the Federal Reserve, something that has been mentioned by people close to the outgoing secretary as a possibility down the road.

“Not a chance,” he said. “I have great respect for the institution, but that will be someone else’s privilege.”

Geithner is returning to New York to be with his family and said he has no immediate plans beyond relaxing and traveling with his wife.

Tim was so eager to end his four years in Washington that he didn’t even wait for his successor to be confirmed. Which means that while Jack Lew is up on the Hill kissing ass, Neal Wolin’s in charge at 1500 Pennsylvania Avenue, for now.

Mr. Wolin had planned to leave Treasury but agreed to stay on until the White House’s new nominee to lead Treasury, Jacob Lew, wins Senate confirmation. It’s likely to take at least a few weeks for the Senate to hold a confirmation vote.

That leaves Mr. Wolin running the 100,000-plus person department, which has been in the thick of debt ceiling crisis, tax and budget negotiations, and international affairs.

Exiting Timothy Geithner talks fiscal future [Politico]
Timothy Geithner’s Legacy [Steve Rattner in the NYT]
Obama’s Treasury pick Lew courts Senate Republicans [Reuters]
Neal Wolin to Take Reins at Treasury — For Now [WSJ Washington Wire blog]

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Comments (24)

  1. Posted by Guest | January 26, 2013 at 3:35 PM

    Why the fuck does the Treasury Department need 100,000 employees?

  2. Posted by Nappy Amazon | January 26, 2013 at 3:40 PM

    In all honesty we knew he could never replace Demi Moore's 1980's bush.

  3. Posted by Mr. Frankenberger | January 28, 2013 at 9:13 AM

    Not an answer, but 106,000 of the 116,000 employees work for IRS. So tax reform could make 90,000 people unemployed?

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