Word: geithner
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...Geithner, Timothy • failure of to pay$34,000 in taxes, despite efforts of Obama transition team to minimize its importance, raises questions about appropriateness of appointment as Treasury Secretary...
...Geithner, by contrast, always looks freshly pressed, even dapper. He admits he didn't care about economics during his undergraduate days at Dartmouth. "I think I took one course," he says. It is easy, given his relatively young age and his background, to view Geithner as the perpetual understudy to Summers' intellectual alpha dog. But friends of both say that oversimplifies their relationship. "Tim is whip-smart and has never hesitated to disagree with Larry on substantive issues if he felt Larry was wrong," says a former Treasury colleague of theirs. Geithner, moreover, has far better political fingertips...
...there is little apparent daylight between them on the urgency of action once they take office. "I agree with Larry [on macroeconomic policy] - or maybe I should say Larry agrees with me," Geithner has joked. And as Treasury Secretary, he will oversee the most critical component of any sustainable recovery plan: getting a still wounded financial system functioning again. Colleagues say Geithner is loyal to Paulson, but that doesn't mean "he would have done things exactly the way [Paulson] did them," says a source. Geithner, for example, wants to overhaul the dysfunctional, taxpayer-funded Troubled Asset Relief Program (TARP...
...form of loans. And many question the judgment calls Washington made as the crisis escalated last fall. "No one has yet adequately explained why they bailed out Bear Stearns but not Lehman Brothers," says the senior investment banker critical of the government's approach. "That's not all on Geithner, but some...
...Geithner acknowledges that Treasury and the Fed need to do a better job of explaining their actions. In his defense, he has told friends that there often just hasn't been time. At key moments, "the overwhelming imperative has been to act," he has said. "You would have violated the Hippocratic oath if you didn't." As the economic crisis deepens, the sense of urgency is undiminished. A friend of Geithner's says he believes the U.S. "is still not out ahead" of this problem. "We will be," he has said, "but we're not there...