This is the part that is really scary about Tim. I mean besides his chronic 'finger' language.
...Mr. Geithner joined the Department of Treasury in 1988 and worked in three administrations for five Secretaries of the Treasury in a variety of positions. He served as Under Secretary of the Treasury for International Affairs from 1999 to 2001 under Secretaries Robert Rubin and Lawrence Summers....
http://www.ny.frb.org/aboutthefed/orgchart/geithner.html
But, at the same time, it is what makes him the perfect choice. He was there before the corruption that manifested as deregulation beginning in 1998? Is that the correct date? He was there through the height of the misguided Republican agenda and he saw the disasterous end.
See, many including me, saw Tim as the man who caused the problem. The only thing that can really be said about Timothy Geithner at the NY Fed was that he was as stymied by the 'corruption machine' as anyone was. It was the 'risk' that everyone wanted to believe was uncorruptable. In actuality, it is the 'risk' that corrupts most absolutely.
Under the direction of Republican influence, 'risk' became the word and 'investment' disappeared off the books. "How Risk Destroyed the USA Economy." If there is a book Secretary Geithner can write, that would be it, more than likely.
I heard a recent testimony by him. He has changed from his previous appointment at the NY Fed. He has discovered the power of 'destruction' and 'devastation' to the American Landscape in a way that caused him pause at his reflection in the mirror.
Yep, it was Tresury and not Commerce.
Geithner asks China to adopt flexible exchange rate policy
6 Jun 2010, 0103 hrs IST,AGENCIES
BUSAN: The United States again urged the world’s biggest exporters to boost domestic demand to provide an impetus to the global economy...
http://economictimes.indiatimes.com/features/the-sunday-et/dateline-india/Geithner-asks-China-to-adopt-flexible-exchange-rate-policy/articleshow/6016212.cms
Geithner Tells G-20 Reliance on U.S. Will Curb Growth (Update2)
June 05, 2010, 5:05 AM EDT
June 5 (Bloomberg) -- Treasury Secretary Timothy Geithner told his Group of 20 counterparts that the pace of the global recovery depends on domestic demand in Japan and Europe, and countries shouldn’t rely on spending by U.S. consumers.
“The necessary shift towards higher savings in the United States needs to be complemented by stronger domestic demand growth in Japan and in the European surplus countries, and sustained growth in private demand” and end to the yuan peg in China, Geithner wrote in a letter before a two-day G-20 meeting in Busan, South Korea that ended today.
http://www.businessweek.com/news/2010-06-05/geithner-tells-g-20-reliance-on-u-s-will-curb-growth-update2-.html
