Posted on 07/03/2011 5:38:19 AM PDT by markomalley
Treasury Secretary Timothy Geithner's potential departure is highlighting how much Wall Street's reputation might have recovered from the financial crisis — and sparking chatter that one of their own could take his place.
Multiple reports indicated Thursday that Geithner is mulling an exit from public service after a deal is struck to raise the debt limit.
While Geithner tried to downplay his potential departure, he also acknowledged the personal pressures that are reportedly weighing on the decision.
"I live for this work. ... I'm going to be doing it for the foreseeable future," he said Thursday at an event hosted by the Clinton Global Initiative. He noted that his son is returning to New York to finish high school, meaning he would be "commuting for a while."
But if Geithner does decide to leave the administration, one big question will be whether a Wall Street figure would be in the mix to replace him. His predecessor in the George W. Bush administration, Hank Paulson, was the chairman and chief executive of Goldman Sachs before becoming Treasury Secretary. His Wall Street experience was widely credited with helping him steer the country through the financial crisis.
A year and a half ago, a nominee with extensive financial ties would have stirred public backlash, according to Brian Gardner of Keefe, Bruyette & Woods. But he said one could look no further than the White House for proof that public anger at Wall Street is waning.
(Excerpt) Read more at thehill.com ...
Just put and ad in the paper “Tax Cheat” wanted knowledge of economics not required, must be tens of thousands of them working on wall street.
The Easter Bunny.
Yesterday, Kudlow and a couple of his guests were talking about this. They mentioned Volcker, Emmelt, Bloomberg and Warren as possibilities. They liked Volcker and Immelt, but not Warren and thought Bloomberg was too much of a free spirit. They might have mentioned others, but those are the ones I recall.
They actually thought Geithner had done a decent job but thought his credibility was damaged from the get go because of the tax fiasco.
Only a fool will accept the job.
To be associated with the foolhardy Messianic debacle verges on stupidity. To accept the burden of working for those who insist on the impossible favorable conclusion and responsibility for juggling the increasing number of balls is foolishness.
“...is highlighting how much Wall Street’s reputation might have recovered from the financial crisis”
Just where do they get this cr%&?
Does this mean Wall St thinks they’ve gotten away with it?!! Is that what they’re talking about!!
He is trying to escape along with the Presidential Seal. We need to keep an eye on him so he can not leave the country and avoid indictment by Palins AG. He belongs in Prison with the rest of them.
Volker has undoubtedly been a great man, but do we really need an 84yo Treasury Secretary? What does that say about our following three generations of whippersnappers?
Fools are one of the few things there's no shortage of in this regime.
Maybe this is just the excuse they need to spring Bernie Madoff from prison. They could use someone experienced at running a Ponzi scheme or two.
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