Timothy Geithner

Geitner redirects here. For the surname, see Geitner an M.A. in international economics and East Asian stud(surname).
ies from Johns Hopkins Universitys School of Advanced
International Studies in 1985.[8][10] He has also studied
[11]
Timothy Franz "Tim" Geithner (/atnr/; born Au- Japanese.
gust 18, 1961) is a former American economic policy
maker and central banker who served as the 75th United
States Secretary of the Treasury, under President Barack
Obama, from 2009 to 2013, now employed in the private
sector. He was previously the president of the Federal
Reserve Bank of New York from 2003 to 2009. He
now serves as president of Warburg Pincus, a Wall Street
private equity rm.[2]

Geithner married Carole Marie Sonnenfeld, his classmate

at Dartmouth, on June 8, 1985, at his parents summer
home in Orleans, Massachusetts.[12] She is a Licensed
Clinical Social Worker and an Assistant Clinical Professor of Psychiatry and Behavioral Sciences at George
Washington University School of Medicine, where she
teaches listening skills to medical students.[13] She is author of a coming-of-age childrens novel about grief.[14]
Her father, Albert Sonnenfeld, was a professor of French
and Comparative Literature at Princeton University and a
food critic;[15] her mother, Portia, died when Carole was
25, shortly after she was married. The Geithners have two
adult children, a daughter named Elise and a son named
Benjamin.[16]

Geithners position included a large role in directing the

Federal Governments spending on the crisis, including
allocation of $350 billion of funds from the Troubled Asset Relief Program enacted during the previous administration. At the end of his rst year in oce, he continued to deal with multiple high visibility issues, including administration eorts to restructure the regulation of
the nations nancial system,[3] attempts to spur recovery
of both the mortgage market and the automobile industry, demands for protectionism, President Obamas tax
changes, and negotiations with foreign governments on
approaches to worldwide nancial issues.[4][5]

Family and education

Geithner was born in New York City, son of Peter Franz

Geithner and his wife Deborah Moore. His father was
the director of the Asia program at the Ford Foundation
in New York in the 1990s. Geithners father is a German
American. Geithners paternal grandfather, Paul Herman
Geithner (19021972), immigrated with his parents to
the United States in 1908, from Zeulenroda, in Thuringia.
Geithners mother, a Mayower descendant, belongs to
a New England family.[6] Her father, Charles Frederick
Moore, Jr., was an adviser to President Dwight D. Eisenhower and served as Vice President of Public Relations Finance Minister (later President) of India Pranab Mukherjee
with Secretary of the Treasury Tim Geithner at Washington, D.C.
for the Ford Motor Company, from 1952 to 1964.[7]
in 2010.

Geithner spent most of his childhood living abroad, including Zimbabwe, Zambia, India, and Thailand, where
he completed high school at the International School
Bangkok.[8] As did his father and paternal grandfather, Geithner attended Dartmouth College, graduating
in 1983, with an A.B. in government and Asian studies.[8] He studied Mandarin at Peking University in 1981,
and at Beijing Normal University in 1982;[9] and earned

During the early 1980s, Geithners father oversaw the

Ford Foundations micronance programs in Indonesia
being developed by Ann Dunham Soetoro, President
Barack Obama's mother, and they met at least once.[17]
1

3 SECRETARY OF THE TREASURY

Early career

ernment and understands markets.[28]

Geithner worked for Kissinger Associates in Washington for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988. 3 Secretary of the Treasury
He went on to serve as an attach at the Embassy of the
United States in Tokyo. He was deputy assistant secretary
for international monetary and nancial policy (1995 3.1 Nomination and conrmation
1996), senior deputy assistant secretary for international
aairs (19961997), and assistant secretary for interna- Main article: Conrmations of Barack Obamas Cabinet
tional aairs (19971998).[10]
During the 2008 Presidential election, Geithner was
He was Under Secretary of the Treasury for International Aairs (19982001) under Treasury Secretaries
Robert Rubin and Lawrence Summers.[10] Summers was
his mentor,[18][19] but other sources call him a Rubin
protg.[20][21][22]

Geithner was sworn in as Treasury Secretary on January 26,

2009

one of three people tipped to be nominated for Treasury

Secretary regardless of whether John McCain or Barack
Obama won.[1] On November 24, 2008, President-elect
Barack Obama announced his intention to nominate GeiIn 2001 he left the Treasury to join the Council on For- thner to be Treasury Secretary.[29][30]
eign Relations as a Senior Fellow in the International Economics department.[23] He was director of the Policy De- During his conrmation, it was disclosed that Geithvelopment and Review Department (20012003) at the ner had not paid $35,000 in Social Security and Medicare payroll taxes from 2001 through 2004 while workInternational Monetary Fund.[10]
ing for the International Monetary Fund.[31] The IMF, as
In October 2003, at age 42,[24] he was named president
an international agency, did not withhold payroll taxes,
of the Federal Reserve Bank of New York.[25] His salary but instead reimbursed the usual employer responsibilin 2007 was $398,200.[26] As President of the New York
ity of these taxes to employees. Geithner received the
Fed, he served as Vice Chairman of the Federal Open reimbursements and paid the amounts received to the
Market Committee. In 2006, he also became a memgovernment, but had not paid the remaining half which
ber of the Washington-based nancial advisory body, the would normally have been withheld from his pay. The
Group of Thirty.[27] In May 2007, he worked to reduce issue, as well as other errors relating to past deducthe capital required to run a bank.[24] In November he tions and expenses, were noted during a 2006 audit by
rejected Sanford Weill's oer to take over as Citigroup's the Internal Revenue Service[32][33][34][35] Geithner subchief executive.[24]
sequently paid the additional taxes owed.[36][37] In a stateIn March 2008, he arranged the rescue and sale of Bear ment to the Senate Finance Committee, Geithner called
Stearns.[18][28] As a Treasury ocial, he helped manage the tax issues careless, avoidable, and unintentional
multiple international crises of the 1990s[21] in Brazil, errors.[36] Geithner testied that he used software to preMexico, Indonesia, South Korea, and Thailand.[22]
pare his 2001 return, but that the tax errors were his own
[38][39]
Geithner believed, along with Henry Paulson, that the responsibility.
Treasury Secretary designee Geithner meets then-Finance Committee Chairman Max Baucus on November 25, 2008

U.S. Department of the Treasury needed new authority

to experiment with responses to the late-2000s (decade)
nancial crisis.[18] Paulson described Geithner as a very
unusually talented young man...[who] understands gov-

On January 26, 2009, the U.S. Senate conrmed Geithners appointment by a vote of 6034.[40][41] Geithner
was sworn in as Treasury Secretary by Vice President Joe
Biden and witnessed by President Barack Obama.[42]

3.2

3.2

Bank bailout

Bank bailout

3
billion. In the end, the Bank Bailouts turned a prot to
the US treasury.[48]
3.2.1 AIG bonuses
Main article: AIG bonus payments controversy
Although President Obama expressed strong support for
Geithner, the outrage over the AIG bonuses undermined
public support. AIG paid bonuses to executives in its Financial Services division after receiving more than $170
billion in federal bailout aid.[49] Even prior to the election, senior aides to Timothy Geithner had closely dealt
with American International Group Inc. on compensation issues including bonuses, both from his time as president of the Federal Reserve Bank of New York and as
Treasury secretary. In early November, 2008, a committee concluded that the bonuses, which were in contracts signed before the government takeover, couldn't
be legally blocked. On March 3, 2009, appearing at
a hearing of the House Ways and Means Committee
Rep. Joseph Crowley, a New York Democrat, asked him
about the bonuses that AIG would be paying to nancialproducts employees in the coming weeks. On March
11, Geithner called Edward Liddy, AIG chief, to protest
the bonus payouts. Mr. Geithner and Federal Reserve
Chairman Ben Bernanke attended a hearing by Congress
on March 24, 2009.[50]
3.2.2 AIG payments to banks

Geithner speaking at the United States Department of Treasury.

Geithner had the authority to decide what to do with

the second tranche of $350 billion from the $700 billion banking bailout bill passed by Congress in October
2008. He was not mandated to seek Congressional approval, but went to Congress on February 1011, 2009
to explain his plans. Under the Financial Stability Plan,
he proposed to create a new investment fund to provide a
market for the legacy loans and securitiesthe so-called
toxic assetsburdening the nancial system, using a
mix of taxpayer and private money.[43] He also proposed
to expand a lending program that would spend as much
as $1 trillion to cover the decline in the issuance of securities backed by consumer loans. He further proposed to
give banks new infusions of capital with which to lend.
In exchange, banks would have to cut the salaries and
perks of their executives and sharply limit dividends and
corporate acquisitions.[44][45] The plan was criticized by
Nobel Prizewinning economist Paul Krugman[46] as well
as fellow Nobel laureate and former World Bank Chief
Economist Joseph Stiglitz.[47]

In November 2009, Neil Barofsky, the Treasury Department Inspector General responsible for oversight of
TARP funds, issued a report critical of the use of $62.1
billion of government funds to redeem derivative contracts held by several large banks which AIG had insured
against losses. The banks received face value for the contracts although their market value at the time was much
lower. In the report, Barofsky said the payments provided [the banks] with tens of billions of dollars they
likely would have not otherwise received. Terms for use
of the funds had been negotiated with the New York Federal Reserve Bank while Geithner was president.

In January 2010, Rep. Darrell Issa released a series

of e-mails between AIG and the New York Fed. In
these e-mails, the Fed urged AIG not to disclose the
full details of the payments publicly or in its SEC lings. Issa pushed for an investigation of the matter, and
for records and e-mails from the Fed to be subpoenaed.
Rep. Edolphus Towns, Chairman of the House Oversight
and Government Reform Committee, issued subpoenas
for the records and scheduled hearings for late January.
The Bank Bailout, that is the TARP and Fanny and Federal Reserve Chairman Ben Bernanke said the Fed
a full review of its actions regarding the
Freddy bailouts combined, had an outow of $615 billion would welcome[51][52][53][54]
AIG
payments.
in funds from the US Treasury. As of June 2015 the inow to the US Treasury from those institutions was $670 Geithner and his predecessor, former Treasury Secretary

3 SECRETARY OF THE TREASURY

Henry Paulson, both appeared before the Committee on

January 27. Geithner defended the bailout of AIG and
the payments to the banks, while reiterating previous denials of any involvement in eorts to withhold details
of the transactions. His testimony was met with skepticism and angry disagreement by House members of both
parties.[55][56][57][58]

3.3

China

3.4 Opposing extension of tax cuts

In summer 2010, The New York Times said Geithner is
President Obamas point man in opposing the extension
of the Bush tax cuts for the wealthy after their Dec. 31
expiration. ... [Geithner] has cited the projected $700
billion, 10-year cost of the tax cuts, and nonpartisan analyses that they do not stimulate the economy because the
wealthy tend to save the additional money rather than
spend it. 'I believe there is no credible argument to be
made that the purpose of government is to borrow from
future generations of Americans to nance an extension
of tax cuts for the top 2 percent,' [he] said in a recent
speech.[65]

3.5 Fiscal cli and debt limit negotiations

Geithner was Obamas lead negotiator about the scal
cli and the increase in the 2013 debt limit.[66][67] For example, on December 5, 2012, Geithner conrmed leaks
from the White House,[68][69][70] Treasury Secretary Geithner told CNBC that the Obama Administration is absolutely willing to go over the scal cli if Republicans
refused to back o from their opposition to raising rates
on wealthier Americans.[71][72]
Geithner with Secretary of State Hillary Clinton at the opening
session of the rst U.S.China Strategic and Economic Dialogue
on July 27, 2009

In written comments to the Senate Finance Committee during his conrmation hearings, Geithner stated
that the new administration believed China was manipulating its currency and that the Obama administration would act aggressively using all the diplomatic
avenues to change Chinas currency practices.[59] The
Obama administration would pressure China diplomatically to change this practice more strongly than the
George W. Bush Administration had done.[60] The United
States maintained that Chinas actions hurt American
businesses and contributed to the nancial crisis.[61]
Shortly after assuming his role as Secretary of the Treasury, Geithner met in Washington with Chinese Foreign
Minister Yang Jiechi. He told Yang that the U.S. attached
great importance to its relations with China and that U.S.
China cooperation was essential in order for the world
economy to fully recover.[62]
On June 1, 2009, during a question-and-answer session
following a speech at Peking University, Geithner was
asked by a student whether Chinese investments in U.S.
Treasury debt were safe. His reply that they were very
safe drew laughter from the audience.[63][64]
Geithner co-chaired the high-prole U.S.China Strategic and Economic Dialogue from July 27 to 28 in Washington, D.C. and led the Economic Track for the U.S.
side.

3.6 Criticism
Geithner weathered criticism early in the Obama presidency, when Congressman Connie Mack (R-FL) suggested he should resign over the AIG bonus scandal, and
Alabama Senator Richard Shelby said that Geithner was
out of the loop. Democrats largely joined Obama in
supporting Geithner, and there was no serious talk of him
losing his job.[73]
In November 2009, Oregon Representative Peter DeFazio, speaking for himself and some fellow members
of the Progressive Caucus, suggested that both Geithner and Lawrence Summers, the director of the National
Economic Council, should be red in order to curtail unemployment and signal a new direction for the
Obama administrations scal policy.[74] When Geithner
appeared in front of the Congressional Joint Economic
Committee that month, the ranking House Republican,
Kevin Brady of Texas, said to the secretary, Conservatives agree that, as point person, you've failed. Liberals are growing in that consensus as well. Poll after poll
shows the public has lost condence in this presidents
ability to handle the economy. For the sake of our jobs,
will you step down from your post?" Geithner defended
his record, suggesting Brady was misrepresenting the situation and overestimating popular disapproval of his job
performance.[75]

5
In June 2011, The New Republic criticized Geithner from
the left, arguing that he was and is overly concerned with
the decit at a time, following the Great Recession, the
government should be pursuing stimulus; and as a result,
it is possible that the stimulus was smaller than it could
have been.[76]

Career after the Treasury

[2] Devin Banerjee & Ian Katz (16 November 2013). Tim
Geithner to Join Leveraged Buyout Firm Warburg Pincus. Bloomberg L.P. Retrieved 17 November 2013.
[3] Stout, David (June 18, 2009). Senators Skeptical of Financial Regulation Plan. The New York Times. Retrieved
January 16, 2010.
[4] Obama On AIG Rage, Recession, Challenges. 60 Minutes. March 22, 2009. CBS.

Geithner left the administration on January 25,

2013.[77][78]

[5] Lawder, David (January 13, 2009). Geithner to attend

Feb G7 meeting in Canada. Reuters. Retrieved January
16, 2010.

After leaving oce, Geithner wrote a memoir of his time

serving as Secretary of Treasury entitled Stress Test: Reections on Financial Crises,[79] published in May 2014.

[6] geithner. Freepages.genealogy.rootsweb.ancestry.com.

Retrieved November 30, 2012.

In November 2013, it was announced that Geithner would

join the private equity rm Warburg Pincus as president
and managing director in March 2014.[2]

[7] Milton, Susan (November 25, 2008). Treasury nominee

has ties to Orleans. Cape Cod Times. Retrieved November 26, 2008.

In April 2016, he was one of eight former Treasury secretaries who called on the United Kingdom to remain a
member of the European Union ahead of the June 2016
Referendum. [80]

[8] Farley, Kate (October 3, 2008). Family describes Geithner '83s youth. The Dartmouth (Hanover, NH). Retrieved January 16, 2010.

Media

[9] Speech by Secretary Geithner 24 October 2014

[10] Timothy F. Geithner (Fee $7.95). Whos Who (Marquis
Whos Who). November 22, 2008. pp. K2017000959.
Retrieved November 22, 2008.

Geithner was portrayed by Billy Crudup in the HBO lm

Too Big to Fail.

[11] Obama picks dynamic duo to rescue US. The Sydney

Morning Herald. November 24, 2008. Retrieved November 25, 2008.

[12] Carole M. Sonnenfeld Wed To T. F. Geithner. NYTimes.com. June 9, 1985. Retrieved November 30, 2012.

Memberships
Center for Global Development (Board of
Directors)[81]

[13] About the Author. Carolegeithner.com. Retrieved August 3, 2013.

Council on Foreign Relations[23]

[14] About the Author.

November 30, 2012.

Economic Club of New York (trustee)[81]

Bank for International Settlements, Committee on
payment and settlement systems (chairman) [10]
Bilderberg Group

Published works
Geithner, Timothy (2014). Stress Test: Reections on Financial Crises. Crown Publishing Group,
Random House. ISBN 9780804138598.

References

[1] Raum, Tom (October 18, 2008). Next treasury boss will
feel power - and stress. USA Today. Retrieved November
25, 2010.

Carolegeithner.com.

Retrieved

[15] CAROLE M. SONNENFELD WED TO T. F. GEITHNER. nytimes.com. June 9, 1985. Retrieved August 3,
2013.
[16] Romero, Frances, Obamas White House Treasury
Secretary: Timothy Geithner, Time Specials, December
2, 2008
[17] Ford Foundation Links Parents of Obama and Treasury Secretary Nominee. The Chronicle of Philanthropy.
2008-12-03. Retrieved 2008-12-20.
[18] Cho, David; Montgomery, Lori; Murray, Shailagh
(November 22, 2008). Obama Picks N.Y. Fed President
Geithner as Treasury Secretary. The Washington Post. p.
A1. Retrieved November 23, 2008.
[19] Canova, Timothy (November 25, 2008). Obamanomics:
Is this real change?". The Real News. Retrieved December 13, 2008. He had been mentored by Lawrence Summers.

REFERENCES

[20] Kessler, Glenn (November 24, 2008). As White House

Economic Adviser, Summers to Assume Less-Public
Role. The Washington Post. p. A13. Retrieved November 24, 2008. Summers also got along well with another
Rubin protg, Timothy F. Geithner, now chairman of the
New York Federal Reserve Bank.

[36] Felsenthal, Mark; Lawder, David (January 21, 2009).

Geithner urges bailout reforms, apologizes on taxes.
Reuters.

[21] Irwin, Neil (November 22, 2008). A Treasury Contender

Schooled in Crisis. The Washington Post. p. A6. Retrieved November 23, 2008.

[38] Tim Geithner- I Used TurboTax!", Congressional testimony, YouTube

[22] Obama picks Geithner as treasury secretary. The Financial Express. Mumbai. November 23, 2008. Retrieved November 23, 2008. Geithner is a protege of
Lawrence Summers and has been involved in the bailouts
of Brazil, Mexico, Indonesia, South Korea and Thailand
in the 1990s as the treasury undersecretary
[23] Timothy F. Geithner. Experts. Council on Foreign Relations. February 2013. Retrieved March 18, 2013.
[24] Becker, Jo; Morgenstern, Gretchen (April 26, 2009).
Geithner, as Member and Overseer, Forged Ties to Finance Club. The New York Times. Retrieved April 26,
2009.
[25] Fuerbringer, Jonathan (October 16, 2003). I.M.F. Ofcial Is Named President of New York Fed. The New
York Times. Business. Retrieved November 24, 2008.
[26] Lanman, Scott (November 24, 2008). Geithner Nomination Takes Top Fed Wall Street Liaison. Bloomberg.
Retrieved November 24, 2008.
[27] Timothy F. Geithner. Current Members. Group of
Thirty. November 24, 2008. Archived from the original
on October 9, 2008. Retrieved November 24, 2008.
[28] Tumulty, Karen; Calabresi, Massimo (September 25,
2008). Three Men And a Bailout. Time. Retrieved
November 22, 2008.<
[29] change.gov (November 24, 2008). Geithner, Summers
among key economic team members announced today.
Newsroom. Oce of the President-elect. Retrieved
November 24, 2008.

[37] Documents regarding Treasury nominee Geithner, Senate Finance Committee. January 13, 2009.

[39] Geithner Links Woes to Tax Software Used by 18 Million Americans. Fox News. January 22, 2009. Archived
from the original on January 23, 2009.
[40] U.S. Senate Roll Call Votes 111th Congress - 1st Session
[41] Senate Conrms Geithner To Head Treasury.
Washington Post. Retrieved May 25, 2010.

The

[42] Jackie Calmes (2009-01-26). Senate Conrms Geithner

for Treasury. The New York Times. Retrieved 2009-0127.
[43] Timothy Geithner (2009-03-23). My Plan for Bad Bank
Assets. The Wall Street Journal.
[44] Brian Knowlton, Geithner Is Pressed for Bailout Details,
New York Times February 11, 2009
[45] E. J. Dionne, Centrism. Meh. The New Republic February 12, 2009
[46] Daly, Corbett B. (2009-03-23). Nobel laureate Krugman
slams Geithner bailout plan. Reuters. Retrieved 200903-24.
[47] Stiglitz, Joseph E. (2009-03-31). Obamas Ersatz Capitalism. The New York Times. Retrieved 2009-04-02.
[48] https://projects.propublica.org/bailout/
[49] Fletcher, Michael A.; Faiola, Anthony (March 23, 2009).
Advisers To Obama Wary of Bonus Tax. The Washington Post. Retrieved May 25, 2010.
[50] Phillips, Michael M.; Reddy, Sudeep (March 23, 2009).
Geithner Aides Worked With AIG for Months on
Bonuses. The Wall Street Journal.

[30] Geithner to Be Nominated as Treasury Secretary.

CNBC. November 21, 2008. Retrieved February 28,
2010.

[51] Liberto, Jennifer, " Bernanke: Bring on AIG scrutiny,

CNNMoney.com, January 19, 2010

[31] Geithners Mistake on Tax Is Common, Experts Say.

The New York Times. January 15, 2009.

[52] Lawder, David and Felsenthal, Mark, New emails show

AIG mulled bank payment disclosures, Reuters, January
17, 2010

[32] Finance Committee Questions for the Record, Hearing

on Conrmation of Mr. Timothy F. Geithner to be Secretary of the U.S. Department of Treasury (PDF). United
States Senate. January 21, 2009.
[33] Hearing to Consider the Nomination of Timothy F. Geithner, to be Secretary of the Treasury. United States Senate. January 21, 2009.

[53] Son, Hugh, Geithners Fed Told AIG to Limit Swaps Disclosure (Update3)",Bloomberg Press, January 7, 2010
[54] Son, Hugh, Paulson Asked to Testify at AIG Bailout
Hearing With Geithner, Bloomberg Business Week, January 16, 2010

[34] Gandel, Stephen (January 21, 2009). Tax Tips for Geithner. Time.

[55] Secretary Written Testimony before the House Committee on Oversight and Government Reform, United States
Department of the Treasury Press Room, January 27, 2010

[35] Weisman, Jan (January 14, 2009). Geithners Tax History Muddles Conrmation. WSJ. Retrieved September
23, 2012.

[56] Ng, Serena and Crittenden, Michael R., " Geithner Defends Big AIG Payouts, The Wall Street Journal, January
27, 2010

[57] U.S. lawmakers turn up heat on Geithner over AIG, January 28, 2010
[58] DeCambre, Mark, Geithner AIG grilling has bipartisan
fervor, New York Post, January 28, 2010
[59] Montgomery, Lori; Faiola, Anthony (January 23, 2009).
Geithner Says China Manipulates Its Currency. The
Washington Post. p. A08.
[60] Drajem, Mark; Christie, Rebecca (January 23, 2009).
Geithner Warning on Yuan May Renew U.S.-China Tension. Bloomberg LP.
[61] Moore, Malcolm (January 23, 2009). Timothy Geithner
currency 'manipulation' accusation angers China. The
Daily Telegraph (London).

[71] Burlij, Terence; Katelyn Polantz (December 6, 2012).

Obama, Boehner Resume Fiscal Talks With Phone Call.
PBS NewsHour. Retrieved December 6, 2012. Later
on Wednesday, Treasury Secretary Timothy Geithner told
CNBC that the administration absolutely was prepared
to allow the country to go over the cli on Jan. 1 if Republicans refused to back o from their opposition to raising
rates on wealthier Americans.
[72] Menza, Justin (November 5, 2012). Geithner: Ready to
Go Over 'Cli' If Taxes Don't Rise. CNBC. Retrieved
November 6, 2012.
[73] Davis, Susan (March 18, 2009). Should Geithner Resign?". The Wall Street Journal.
[74] Rep. DeFazio: Fire Secretary Geithner. The Ed Schultz
Show. November 19, 2009. Retrieved July 24, 2011.

[62] Yang Jiechi Meets with U.S. Secretary of Treasury Geithner. Chinese Ministry of Foreign Aairs. March 12,
2009. Retrieved February 23, 2010.

[75] Fullhart, Steve (November 19, 2009). Brady to Geithner:

'Will You Step Down?'". Bryan College Station, TX:
KBTX-TV. Retrieved July 24, 2011.

[63] Somerville, Glenn (June 1, 2009). Geithner backs strong

dlr, says Chinas assets safe. Reuters. Retrieved February 23, 2010.

[76] Judis, John B. (June 9, 2011). Why Tim Geithners Obsession With Decits Is Hurting The Economy. The New
Republic. Retrieved July 24, 2011.

[64] Powell, Bill (June 1, 2009). Geithners Asia Background

Shows on His China Trip. Time. Retrieved February 23,
2010.

[77] Geithners Planned Departure Puts Obama in Tough

Spot. CNBC. Retrieved January 4, 2013.

[65] Calmes, Jackie (August 19, 2010). At Treasury, Geithner Struggles to Escape a Past He Never Had. The New
York Times. Retrieved 2010-08-20.
[66] Terence Burlij; Katelyn Polantz (November 30, 2012).
Republicans Unhappy With Latest Fiscal Cli Talks.
PBS NewsHour. Retrieved 30 November 2012.
[67] Gleeson, Michael M.; McPherson, Lindsey M. (November 30, 2012). 2012 TNT 231-3 REPUBLICANS
CALL ADMINISTRATION'S FISCAL CLIFF PLAN
'UNREASONABLE'. (Section 1 -- Individual Tax) (Release Date: NOVEMBER 29, 2012) (Doc 2012-24491)".
Tax Notes Today (Tax Analysts) (2012 TNT 231-3).
[68] Munro, Neil (December 3, 2012). Obama willing to go
over scal cli, according to White House leaks. The
Daily Caller. Retrieved December 6, 2012. rst of two
December 3 leaks came via the left-wing Mother Jones
publication and claim was later seconded by a left-wing
columnist at The Washington Post, Greg Sargent, who
sometimes is used by the White House to leak ocial
views
[69] Corn, David (December 3, 2012). John Boehners
Hostage Crisis. Mother Jones. Retrieved December
6, 2012. According to senior administration ocials,
Obama is not eager to go over the cli, but he is willing.
[70] Sargent, Greg (3 December 2012). White House willing
to go over scal cli if absolutely necessary. The Washington Post. Retrieved December 6, 2012. I have just
conrmed that this is accurate Obama is willing, albeit
very reluctant, to go over the cli.

[78] Treasury Secretary Geithner reportedly wants to leave by

months end. Los Angeles Times. Archived from the original on January 5, 2013. Retrieved January 4, 2013.
[79] Geithner, Timothy (2014). Stress Test: Reections on Financial Crises. Crown Publishing Group, Random House.
ISBN 9780804138598.
[80] Staying in EU 'best hope' for UKs future say ex-US Treasury secretaries. BBC News. April 20, 2016.
[81] Timothy F. Geithner. About CGD. Washington D.C.:
Center for Global Development. 2008. Archived from
the original on June 3, 2008. Retrieved November 24,
2008.

9 Further reading
Anderson, Jenny (2007-02-09). Calm Before and
During a Storm. The New York Times.
Cho, David; Irwin, Neil (2008-09-19). In Crucible of Crisis, Paulson, Bernanke, Geithner Forge
a Committee of Three. The Washington Post.
Schreiber, Noam (2008-11-05). Obamas Choice:
The next Larry Summers or Larry Summers.
The New Republic.
Judis, John B. (2009-03-23). The Geithner Disaster: How The Treasury Secretary Is Undermining
Obamas Entire Economic Agenda. The New Republic.

10
Stewart, James B., Eight Days: the battle to save the
American nancial system, The New Yorker magazine, September 21, 2009.
Cassidy, John (15 March 2010). Annals of Economics: No Credit. The New Yorker 86 (4): 2630.
Retrieved 15 January 2011.

10

External links

Biography at the United States Department of the

Treasury
Timothy Geithner collected news and commentary
at The Washington Post
Appearances on C-SPAN

Timothy Geithner collected news and commentary

at The New York Times
Works by or about Timothy Geithner in libraries
(WorldCat catalog)
Biography at the Federal Reserve Bank of New York
Whos Who: The Federal Open Markets Committee, msnbc.com
Bernankes quiet
MarketWatch

skipper

makes

waves,

Toxic Assets Reduction Plan, The Justice Dept:

March 23, 2009.
Liquidity Risk and the Global Economy,
International Finance, Summer 2007
Geithners Calendar at the New York Fed. The
New York Times. April 26, 2009. Retrieved April
26, 2009. (20072009)
Stewart, James (September 14, 2009), Eight Days,
The New Yorker, pp. 5881, summary of occurrences in the eight days September 1523, 2008,
with interviews of Paulson, Bernanke, and Geithner

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Text

Timothy Geithner Source: https://en.wikipedia.org/wiki/Timothy_Geithner?oldid=721240797 Contributors: AxelBoldt, Hoshie,

Susurrus, AWhiteC, Wetman, Jerzy, Bearcat, Robbot, Moncrief, Guy Peters, Centrx, JamesMLane, Marcika, Everyking, Lestatdelc,
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File:US-DeptOfTheTreasury-Seal.svg Source: https://upload.wikimedia.org/wikipedia/commons/e/e8/US-DeptOfTheTreasury-Seal.

svg License: Public domain Contributors: Extracted from PDF le here. Original artist: U.S. Government. The original 1780s seal is
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Contributors: This is a cropped version of Image:Wikinews-logo-en.png. Original artist: Vectorized by Simon 01:05, 2 August 2006 (UTC)
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