Timothy Franz Geithner is reportedly going to be named Secretary of the Treasury by Barack Obama. He is currently the president of the Federal Reserve Bank of New York.
Barack Obama has reportedly selected Timothy Geithner as Secretary of the Treasury. Geithner was a member of the Department of the Treasury under Clinton’s Treasury Secretary Robert Rubin. Geithner’s selection seems to fit Obama’s pattern of selecting old Clinton appointees to his “Change” Administration.
The Treasury Secretary has quite a “to-do” list over the next four years. He has to restore confidence in America’s financial system. He has to oversee a $700 billion bailout of America’s banks, and possibly another multi-billion dollar bailout of America’s failing automobile industry. He will also have to implement Obama’s “spread the wealth” policies that will tax more affluent Americans more than ever before in an attempt to socialize America. We’ll see if Geithner is up to the challenge.
Read about Timothy Geithner’s background below:
Geithner was born in Brooklyn, New York City, on August 18, 1961. Raised in a variety of countries, he graduated high school at International School Bangkok, Thailand. Mr. Geithner graduated from Dartmouth College in 1983 and from the Johns Hopkins School of Advanced International Studies with a master’s in International Economics and East Asian Studies in 1985.
Upon graduation, he worked at Kissinger Associates, Inc. in Washington D.C. Mr. Geithner joined the Department of Treasury in 1988. He served as Under Secretary of the Treasury for International Affairs from 1999 to 2001 under Secretaries Robert Rubin and Lawrence Summers. After the Department of Treasury, he was a director at the International Monetary Fund from 2001 until 2003.
Timothy F. Geithner became the ninth president of the Federal Reserve Bank of New York on November 17, 2003.
He and his wife, Carole Sonnenfeld Geithner, have two children.
Interestingly, Obama did not mention Geithner when asked about potential Treasury Secretary’s in the final Presidential debate.
See the below responses during the Presidential Debate from Barack Obama and John McCain on who they felt should become the Treasury Secretary: