Tim Geithner Out? — The New York Post takes a huge shot at him here. I still don’t see Geithner leaving, however, due to the lack of a credible replacement. Larry Summers could easily step in, but how is he ever going to get Senate confirmation? Same goes for every other viable private sector figure because they all come out of Wall Street or banking and, therefore, are politically if not ethically tainted. Paul Volcker is too old and everyone else I can think of is a Republican. So, like it or not, I think Obama is stuck with Geithner until we are well past the economic and financial crisis.
Bruce Bartlett is a columnist for Forbes.com, the online side of Forbes, the nation’s premier financial magazine.
He served for many years in prominent governmental positions including executive director of the Joint Economic Committee of Congress, Deputy Assistant Secretary for economic policy at the U.S. Treasury Department during the George H.W. Bush Administration, and as a senior policy analyst in the White House for Ronald Reagan.
Bruce is the author of seven books, including the New York Times best-selling Impostor: How George W. Bankrupted America and Betrayed the Reagan Legacy, and thousands of articles in national publications including the Wall Street Journal, New York Times, Washington Post, New Republic, Fortune and many others. He appears frequently on CNN, CNBC, C-SPAN and Fox News, and has been a guest on both the Daily Show with Jon Stewart and the Colbert Report.
Visit: Capital Gains and Games