Timothy Geithner's Term As Treasury Secretary Won't End Until 2013: White House
Last edited Sun Dec 2, 2012, 03:19 AM - Edit history (1)
Source: HUffington Post
WASHINGTON, Nov 9 (Reuters) - Treasury Secretary Timothy Geithner plans to stay until early next year to help the Obama administration forge a deal with lawmakers to avert the looming fiscal crisis, the White House said on Friday.
The Obama administration and Congress has less than two months to soften the blow from the "fiscal cliff" or $600 billion worth of tax hikes and spending cuts that will be sucked out of the economy next year if Washington fails to act.
"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," a White House spokesman told reporters.
Geithner has long said he planned to step down if President Barack Obama won a second term, after spending grueling time dealing with the 2007-09 financial crisis first as the head of the New York Fed and then as Obama's Treasury chief.
After helping the White House negotiate last year's budget deal to raise the debt limit and cut the deficit, Geithner won over many Republicans who viewed him as reasonable and willing to listen to their concerns.
Also on HuffPost:
Read more: http://www.huffingtonpost.com/2012/11/09/timothy-geithner-term_n_2103338.html?utm_hp_ref=business
NOOOOOOOOOOO Can't Deal! He's staying til 2013
lamp_shade
(14,853 posts)HoosierRadical
(390 posts)HoosierRadical
(390 posts)Geithner needs to GO! He is bad news and works against the President's progressive ideas.
banned from Kos
(4,017 posts)I have never heard expert criticism of Geithner.
Try Krugman for instance.
And no - some lame brain site like Naked Capitalism or that fucking insufferable William Black count.
GeorgeGist
(25,327 posts)banned from Kos
(4,017 posts)That was the PIPP plan where govt and private banks bought assets together.
Banks decided to cut the feds out and buy at the bottom. And now they have fortress balance sheets.
Mass
(27,315 posts)olddad56
(5,732 posts)We don't need this guy or Petreaus.
KoKo
(84,711 posts)thinking that he would work so much better with "Wall Street" than some "new person."
They thought he had a good relationship with "WS." Sure he did...and that's why I don't want him to stay!
Angry Dragon
(36,693 posts)robinlynne
(15,481 posts)Left Coast2020
(2,397 posts)...Geithner was said to be leaving. As a matter of fact it was posted here, and the thought of Krugman in that position would be an absolute perfect choice for the president. Hands down!!!
Kelvin Mace
(17,469 posts)He is the last person who should be working on this deal.