Two leading candidates for top Treasury jobs have dropped out of the running in a setback for secretary Tim Geithner, Reuters reports. Former Securities and Exchange commissioner Annette Nazareth had been in line to be deputy secretary, but withdrew to stick with her private practice. Geithner’s pick for international affairs undersecretary, Caroline Atkinson, chose to hold onto her post at the International Monetary Fund.
The pair had been vetted but not officially nominated for the posts. Nazareth "concluded that it was the right decision for her and her family to remain in private practice," an insider told Reuters. Some in Congress had been skeptical about her performance at the SEC, where she had oversight of banks, notes the Wall Street Journal.