Geithner Denies Signaling His Departure
Treasury Secretary Timothy Geithner denied in an interview with former President Bill Clinton recent reports that he was considering stepping down from his post after Congress hammers out an agreement on the federal debt limit later this summer. (more)
Treasury Secretary Timothy Geithner denied in an interview with former President Bill Clinton recent reports that he was considering stepping down from his post after Congress hammers out an agreement on the federal debt limit later this summer.
Speculation about his possible departure pointed to the fact that Geithner commutes between New York and Washington so his son can continue attending high school in New York. But Geithner told Clinton he would keep working and making the commute “for the foreseeable future.”
But perhaps a more relevant indicator, as The Los Angeles Times points out, may be that the last 10 treasury secretaries spent about 32 months in the job, on average. Geithner has so far served 29. –BF
Wait, before you go…The Los Angeles Times:
Bloomberg News reported Thursday that Geithner has signaled to the White House he might want to step down after the conclusion of the difficult negotiations, in which he has been deeply involved. The nation is set to hit its debt limit Aug. 2.
The report said one factor was the desire of Geithner’s son to attend his last year of high school in New York, where the family lived before Geithner joined the administration in 2009. Geithner and his wife, Carole Sonnenfeld Geithner, have two children and live in Bethesda, Md., but still own a home in Larchmont, N.Y.
Geithner said he would continue as Treasury secretary after the school year begins in the fall.
“My son’s going back to New York to finish high school,” he told Clinton. “I’m going to be commuting for a while, but I’m going to be doing this for the foreseeable future.”
Geithner is the last remaining member of the team of top economic advisors President Obama brought with him into his administration, and his potential departure has been the subject of conjecture since just a couple of months into the job.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
Playing on fears and stoking divisiveness is the president's go-to strategy, even as tensions build on a national and international level as a result of his rhetoric and direction.
The Republicans and Democrats are two faces of the same failure. And there will be no real hope of rescue by third parties until the American system of electoral politics is rebuilt from the ground up.
Nice try, but no cigar.
The current movement is not just toppling predators in high places: It is defying the core sickness and rigid hierarchy of corporate culture.
There are currently no responses to this article.
Be the first to respond.