Is Geithner serious about his job or the economy?




Is Obama? It’s unthinkable that such a critical area has been ignored for so long. If either Obama or Geithner are serious about fixing the economy this should be a top priority. Geithner doesn’t give the impression that he full appreciates the seriousness of the situation. GM’s fired CEO Richard Wagoner is still on the payroll while Timmy huddles with his closest friends that he dragged down rom Wall Street. What is he thinking?

Wagoner’s removal has been held up because senior Treasury officials have yet to decide whether he should get the $20 million severance package that the company had promised him.

The delay is one of many hitches that have slowed a host of important policy actions in the four months since Timothy F. Geithner became Treasury secretary. While Geithner has taken dramatic steps to address flashpoints in the economy, the work of carrying out those policies has bogged down because critical decisions about how to do so aren’t being made, interviews with a broad range of federal officials show.

Government officials, inside the Treasury and out, say the unresolved issues are piling up in part because of vacancies in the department’s top ranks. But some of the officials also cite the Treasury’s ad-hoc management, which is dominated by a small band of Geithner’s counselors who coordinate rescue initiatives but lack formal authority to make decisions. Heavy involvement by the White House in Treasury affairs has further muddied the picture of who is responsible for key issues, the officials add.

It was somewhat understandable a few months ago. Not great, but they were the early days. Four months in, it’s well past annoying and falls into the category of just plain stupid category. While there have been some encouraging signs, the negatives are much greater with Geithner and there is little to suggest he will ever turn things around.


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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