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Fri Nov 9, 2012, 06:35 PM

Timothy Geithner's Term As Treasury Secretary Won't End Until 2013: White House

Last edited Sun Dec 2, 2012, 02:19 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

14 replies, 2927 views

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Arrow 14 replies Author Time Post
Reply Timothy Geithner's Term As Treasury Secretary Won't End Until 2013: White House (Original post)
trublu992 Nov 2012 OP
lamp_shade Nov 2012 #1
HoosierRadical Nov 2012 #3
HoosierRadical Nov 2012 #2
banned from Kos Nov 2012 #5
GeorgeGist Nov 2012 #7
banned from Kos Nov 2012 #10
Mass Nov 2012 #4
olddad56 Nov 2012 #6
KoKo Nov 2012 #8
Angry Dragon Nov 2012 #9
robinlynne Nov 2012 #11
Left Coast2020 Nov 2012 #13
Kelvin Mace Nov 2012 #12
irisblue Nov 2012 #14

Response to trublu992 (Original post)

Fri Nov 9, 2012, 06:41 PM

1. GOOD!!!

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Response to lamp_shade (Reply #1)

Fri Nov 9, 2012, 06:48 PM

3. What is so good about that wall street lackey staying on?

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Response to trublu992 (Original post)

Fri Nov 9, 2012, 06:46 PM

2. This is terrible news...

Geithner needs to GO! He is bad news and works against the President's progressive ideas.

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Response to HoosierRadical (Reply #2)

Fri Nov 9, 2012, 06:49 PM

5. Geithner is excellent at Treasury.

 

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.

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Response to GeorgeGist (Reply #7)

Fri Nov 9, 2012, 08:46 PM

10. That plan did not fail. It simply did not happen at all.

 

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.

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Response to trublu992 (Original post)

Fri Nov 9, 2012, 06:48 PM

4. This makes sense. This said, it also implies he will leave in January.

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Response to trublu992 (Original post)

Fri Nov 9, 2012, 07:21 PM

6. what is up with all of these republicans on Obamas staff?

We don't need this guy or Petreaus.

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Response to trublu992 (Original post)

Fri Nov 9, 2012, 08:04 PM

8. Kind of incredible...but then Bloomberg Finance today was mourning the Loss of Geithner...

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!

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Response to trublu992 (Original post)

Fri Nov 9, 2012, 08:08 PM

9. He should be gone

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Response to trublu992 (Original post)

Fri Nov 9, 2012, 08:56 PM

11. OH NO. Why can't Paul Krugman be Sec of the Treasury?

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Response to robinlynne (Reply #11)

Fri Nov 9, 2012, 09:06 PM

13. There was a story on this a couple of weeks ago when....

...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!!!

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Response to trublu992 (Original post)

Fri Nov 9, 2012, 09:02 PM

12. Outside of Paul Ryan

He is the last person who should be working on this deal.

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Response to trublu992 (Original post)

Sat Nov 10, 2012, 09:18 AM

14. he needs to leave.

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