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The Changeover: Treasury Secretary

OPB | Jan. 20, 2009 12:08 a.m. | Updated: Sept. 10, 2013 8:47 p.m.

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It’s probably safe to say that there are not very many easy jobs in the new administration, but Treasury secretary is certainly among the more daunting positions. He’s the one who will oversee the distribution of the remainder of the Troubled Asset Relief Program (TARP), pending approval by Congress, and will also play a role in the Obama Administration’s economic stimulus package. Timothy Geithner, the nominee, has his work cut out for him, but first he has to be approved by the Senate. The hearing will take place on Wednesday and Think Out Loud will provide analysis and discussion the next day.

NOTE: THIS SHOW WAS PRE-EMPTED BY NEWS OF MAYOR SAM ADAMS’S RELATIONSHIP WITH BEAU BREEDLOVE. YOU CAN LISTEN TO THAT SHOW HERE.

It’s probably safe to say that there are not very many easy jobs in the new administration, but Treasury secretary is certainly among the more daunting positions. He’s the one who will oversee the distribution of the remainder of the Troubled Asset Relief Program (TARP), pending approval by Congress, and will also play a role in the Obama Administration’s economic stimulus package. Timothy Geithner, the nominee, has his work cut out for him, but first he has to be approved by the Senate. The hearing will take place on Wednesday and Think Out Loud will provide analysis and discussion the next day.

Geithner currently serves as head of the New York Federal Reserve Bank and has played a significant role in negotiations over failing financial institutions over the past few months. Before that, he was director of the International Monetary Fund and he has experience in the Treasury Department, where he served as under-secretary for international affairs during the Clinton administration. (He also played a minor role in the Treasury under Reagan.)

Despite his impressive resume, Geithner will face some tough questions during his public job interview Wednesday. He will no doubt be asked about the $34,000 in federal taxes that he failed to pay a few years ago. Though he has since paid back the money, with interest, the error is particularly embarrassing for someone who hopes to head up the department that oversees the Internal Revenue Service. Geithner has also been criticized for his involvement in last year’s financial bailouts, and for his former housekeeper, whose legal documentation lapsed while she was working for him.

What would you ask the nominee for Treasury Secretary? Are you concerned about how the rest of the federal TARP money will be spent? What are you hoping to see in an economic stimulus package?

Photo credit: saturnism / Flickr / Creative Commons

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