Geithner Looks to be “In” and the Economy “On”

President Obama’s choice for Secretary of the Treasury, Timothy Geithner, has received the committee approval, which now goes on to the full Senate, and hopefully there won’t be the usual GOP foot dragging of which they consider bipartisan support (see here).

Geithner is possibly the right man for the job with his experience and intellect and has my support in getting the economy started in the right direction, but its my personal opinion that more time will be needed than some of the projections I’ve heard of, such as just one or two years.

Here’s what Politico had to say (excerpts):

Geithner gets committee nod

Geithner gets committee nod

Geithner gets committee nod

By VICTORIA MCGRANE | 1/22/09 11:16 AM EST  Updated: 1/22/09 11:59 AM EST

Treasury nominee Timothy Geithner said Thursday that the Obama administration has no plan to request additional bailout money to prop up the nation’s financial markets — yet.

The panel approved Geithner’s nomination Thursday, 18-5, after grilling him for more than three hours over his personal tax troubles and his role in the bailout as head of the New York Federal Reserve. He now awaits confirmation by the full Senate.

Geithner’s statement on the bailout funds was part of his written response to questions posed to him by Sen. Charles Grassley, the ranking Republican on the Senate Finance Committee.

Grassley’s question to Geithner clearly assumed that it’s a question of when, not if: “It appears that the $700 billion TARP program will not be enough. When will the administration be requesting additional bailout funding?”


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