Word: geithners
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...interesting protégé-and-mentor team: Summers is the deep, intellectual economist who can be brusque if not arrogant. Geithner is a smoother, harder-to-read operator who gets along well with everyone. Of the two, Summers is the one to watch. He is expected to do for the economy what strong-minded and ambitious National Security Advisers like Henry Kissinger have done for foreign policy: plan it, set it and control...
...FINDING THE RIGHT combination of spark, fuse and black powder will fall to Lawrence Summers and Timothy Geithner, two friends Obama named to lead his economic team. Geithner, 47, will leave his job as chief of the New York Federal Reserve to become Treasury Secretary. His mentor Summers, 54, who was Treasury boss for a year and a half under Bill Clinton, will move into the West Wing in January to take over the National Economic Council (NEC), the clearinghouse for all economic policy inside the Administration...
While Summers has worked for almost every Democratic President or nominee for the past 20 years, Geithner's politics are more moderate. Once a registered Republican, he is now an independent, and his instincts are also more opaque. He tried and failed to arrange a private buyout for Lehman Brothers in September and led the $152.5 billion AIG bailout, which proved to be far more expensive than the current Treasury Secretary, Henry Paulson, had anticipated. But Geithner has withheld judgment in public on key issues, like an ambitious program to modify bad home loans that has run into opposition from...
...about women's aptitude for math and science were a reminder that he operates best when he is working behind the scenes. His job at NEC is designed to make him the captain of the team but avoid an unpleasant Senate confirmation hearing. Though smoother than Summers in style, Geithner will have to explain to the Senate Banking Committee just exactly what he was doing last year while all those Manhattan investment banks came unglued...
Obama also nominated Timothy F. Geithner, current chairman of the Federal Reserve Bank of New York, as Treasury Secretary, a position which Summers held under President Clinton from 1999 to 2001 and for which he was short-listed this time around...