Geithner Considering Leaving Post at Treasury

Treasury secretary says he's done after election

(NEWSER) - Tim Geithner is pretty sure he's going to be joining the ranks of the jobless after the election: The Treasury secretary—the longest serving member of President Obama's economic team—tells Bloomberg that Obama is "not going to ask me to stay on, I’m pretty confident. I’m confident he’ll be president. But I’m also confident he’s going to have the privilege of having another secretary of the Treasury." The White House announced in August that Geithner would stay put through the election, amid Beltway rumblings that he would step down. More»

Adviser irked that Geithner, not he, has Obama's ear

(NEWSER) - Economics guru Larry Summers will be out the Obama administration by November’s election, or shortly thereafter, Joshua Green contends —mainly out of frustration that Treasury Secretary Timothy Geithner, and not he, has become President Obama’s go-to adviser in that area. Blogging for the Atlantic, Green notes that, after being passed over for the top spots at Treasury and the Federal Reserve, “Summers is frustrated by his role, and his colleagues are clearly frustrated with him.” More»

Treasury chief's calendars show frequent contact with big players

(AP) - A look at Timothy Geithner's phone calendars show the Treasury secretary has maintained close ties with Wall Street executives he has known for years. Executives at Goldman Sachs, JPMorgan, and Citigroup can reach the nation's most powerful economic official at will. While there's nothing inherently wrong with keeping tabs on the market's biggest players, the calendars could offer fodder for critics who say Geithner is too close to firms he helped bail out. More»

(NEWSER) - The heat is apparently getting to Tim Geithner. At a meeting last week with high-level financial regulators, the treasury secretary indulged in a potty-mouthed diatribe about delays in the administration's highly touted plan to overhaul the regulatory system, declaring, "enough is enough," the Wall Street Journal reports. Attendees included Ben Bernanke, FDIC chair Sheila Bair, and SEC chair Mary Schapiro. More»

TARP funds, meant to save banks, could be used to save jobs

(NEWSER) - The Obama administration is working on a plan that would take money from the TARP—the $700 billion fund intended to rescue banks—and lend it to small businesses, the Washington Post reports. The money would come with few restrictions, and the government would pick up as much as 90% of the tab should the businesses fail. Most of the country’s jobs, proponents argue, come from companies with fewer than 500 employees. More»