Fri Nov 9, 2012, 06:35 PM
trublu992 (485 posts)
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, 3001 views
Timothy Geithner's Term As Treasury Secretary Won't End Until 2013: White House (Original post)
|banned from Kos||Nov 2012||#5|
|banned from Kos||Nov 2012||#10|
|Angry Dragon||Nov 2012||#9|
|Left Coast2020||Nov 2012||#13|
|Kelvin Mace||Nov 2012||#12|
Response to HoosierRadical (Reply #2)
Fri Nov 9, 2012, 06:49 PM
banned from Kos (4,017 posts)
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.
Response to GeorgeGist (Reply #7)
Fri Nov 9, 2012, 08:46 PM
banned from Kos (4,017 posts)
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.
Response to trublu992 (Original post)
Fri Nov 9, 2012, 08:04 PM
KoKo (78,303 posts)
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!
Response to robinlynne (Reply #11)
Fri Nov 9, 2012, 09:06 PM
Left Coast2020 (2,091 posts)
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!!!