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

[trublu992]

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

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NOOOOOOOOOOO Can't Deal! He's staying til 2013

[lamp_shade]

1. GOOD!!!

[HoosierRadical]

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

[HoosierRadical]

2. This is terrible news...

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

[banned from Kos]

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.

[GeorgeGist]

7. Nobel laureate Krugman slams Geithner bailout plan

http://www.reuters.com/article/2009/03/23/us-usa-financial-krugman-sb-idUSTRE52M4SS20090323

[banned from Kos]

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.

[Mass]

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

[olddad56]

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

We don't need this guy or Petreaus.

[KoKo]

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!

[Angry Dragon]

9. He should be gone

[robinlynne]

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

[Left Coast2020]

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!!!

[Kelvin Mace]

12. Outside of Paul Ryan

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

[irisblue]

14. he needs to leave.