Tim Geithner

A lifelong practitioner of the art of defusing financial crises, he has spent his career hopping from one fiasco to the next—in Mexico, Asia, twice in Brazil—for the Treasury and the IMF. Which is why some argue that he should have seen one coming in the mid-aughts, when he took charge as president of the New York Fed, supervising many of the institutions that required federal assistance. When Obama first approached him about coming to Treasury in 2008, Geither suggested that unflattering details such as this might make him an unviable candidate. The decisions he had been party to at the height of the crisis—allowing Lehman Brothers to fail, bailing out AIG, deploying the hated TARP—might reflect badly on the new administration. He was trying to wriggle out of the job—“I knew it would be terrible”—but Obama wanted him anyway. [NYM]

  • 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. Read more »

  • 08 Jan 2013 at 4:32 PM

Let’s Help Tim Geithner Name His Book

As you may have heard, Obama is apparently close to nominating Jack Lew for Treasury Secretary, giving Tim Geithner his late Christmas wish: a one-way ticket outta there. And while he’s previously said to have no interest in writing about his time in Washington (and at the NY Fed before that), friends o’ TG claim that his plan for the next year or so involve “a round of ‘detox’ and writing a book.”

Obviously we’re still very far off from anything concrete but publishers will undoubtedly be banging down his door in no time and when they do, it might be nice to at least have a title to whet their palates. While Geithner packs his bags, let’s do him a solid and come up with some options. The year spent sunning himself off the coast of Ko Samui (or puttering around Larchmont, or taking a job with the least amount of responsibility possible, whatever the detox entails) will presumably do wonders to take the edge of the last 48 months but if he’s still in an angsty phase by the time he sits down to bang out his story, perhaps one of the following would work? Read more »

Yes, he said that he’ll stay ’til this thing gets done but FYI, he’s already booked a one-way ticket out of this dump and it’s nonrefundable, so if you think he’s gonna just stand by while you people fumble around and fuck everything up, thereby prolonging his stay in this asylum one day longer, think again! Read more »

  • 07 Nov 2012 at 2:37 PM

Tim Geithner May Not Want To Pack His Bags Just Yet

President Barack Obama, newly re- elected, now confronts two questions that he has been avoiding for more than a year: Who will replace Treasury Secretary Tim Geithner and when…The timing of Geithner’s replacement depends on whether the White House can reach an agreement with the lame duck Congress on a deficit reduction plan to avoid triggering spending cuts and tax increases known as the fiscal cliff. If a deal can be reached before the Jan. 1 deadline, Geithner might leave as soon as it is completed. If the solution is left for the next Congress, Obama may ask Geithner to stay, either to work on a deal or to reassure financial markets about the U.S. government’s ability to trim the deficit. [Bloomberg, earlier re: Tim Geithner's many unapproved requests to go home]

As you may have heard, because you’ve read the reports reports or picked up on the Morse code message he’s blinked out during every appearance on CNBC or he threw himself on the hood of your car and screamed “Get me outta here” the last time you drove up to the Treasury building, Tim Geithner is ready to say good-bye to Washington. Has been for some time, in fact, but previous requests to go home were all denied. Now that his bosses are supposedly going to allow him to leave in the event Obama is reelected, many are wondering what will be next for TG. Despite having spent the majority of his career in public service and giving the impression that he has no desire to work for Wall Street, Bloomberg is thinking that with the albatross that is his unsellable Larchmont house around his neck, a family, and college tuition to pay, Geithner may not have a choice. Read more »

Who should replace Ben S. Bernanke as Chairman of the Federal Reserve when his term ends in January 2014? If anyone cared to ask us, we’d say no one: we like our Fed Chairman soft-spoken, bearded, and just as comfortable in dad jeans as they are in their bespoke Jos. A. Bank suits. But nobody asked and, according to Andrew Ross Sorkin, Bernanke has told “close friends” that regardless of whether or not Obama wins a second term, he’s ready to move on. Apparently qualified successors are few and far between and while Larry Summers is said to be “at the top of the list,” the fact that Treasury Secretary Tim Geithner may finally be granted freedom from his own personal Guantanamo Bay and will also necessitate a replacement who will have to work closely with the new Fed Chair poses some staffing issues, on account of the perception that Summers is somewhat difficult to work with. Read more »