Geithner Will Step Out of Paulson's Shadow To Take On Goliath
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Tim Geithner is now our Treasury Secretary after overcoming a tough approval process for failing to pay $34,000 in taxes between 2001 and 2004. In the position of Treasury Secretary, Geithner will look to spearhead President Obama's economic stimulus plan.
Just like Obama's quick and smart actions in his early days into his presidency, in Geithner's first full-day he already enacted new lobbying rules for firms that are in receipt of TARP funding. Geithner and Obama are trying to make companies more accountable and the new lobbying rule announced today is a step in the right direction.
Along with the new lobbying rules, the Obama administration has pledged to better track lending patterns by financial institutions to ensure that they are using the government assistance to increase lending.
Besides unveiling the new lobbying rules mentioned above, Geithner scheduled a full day. He was expected to meet with senior Treasury staff on initiatives to reform the current financial regulatory structure, something this administration has promised to address expeditiously in an effort to prevent another financial crisis.
I believe Tim Geithner is his own man and will be more active than previous Treasury Secretary, Henry Pauslon, in ensuring that the 'right' companies receive TARP funding and are held accountable.
President Obama put a lot on the line by sticking with Timothy Geithner as his choice for Treasury Secretary after the tax scandal surfaced and because of that, I think Geithner will do everything to exceed expectations.
Geithner does have many detractors because he was on Paulson's team that made many mistakes, but that will make him that much more motivated to run with his ideas and, more importantly, he will no longer be limited by Paulson's myopic thinking.
Geithner will follow Obama's lead of action and not reaction, passion and not apathy, to right our financial system.
Just like Obama's quick and smart actions in his early days into his presidency, in Geithner's first full-day he already enacted new lobbying rules for firms that are in receipt of TARP funding. Geithner and Obama are trying to make companies more accountable and the new lobbying rule announced today is a step in the right direction.
Along with the new lobbying rules, the Obama administration has pledged to better track lending patterns by financial institutions to ensure that they are using the government assistance to increase lending.
Besides unveiling the new lobbying rules mentioned above, Geithner scheduled a full day. He was expected to meet with senior Treasury staff on initiatives to reform the current financial regulatory structure, something this administration has promised to address expeditiously in an effort to prevent another financial crisis.
I believe Tim Geithner is his own man and will be more active than previous Treasury Secretary, Henry Pauslon, in ensuring that the 'right' companies receive TARP funding and are held accountable.
President Obama put a lot on the line by sticking with Timothy Geithner as his choice for Treasury Secretary after the tax scandal surfaced and because of that, I think Geithner will do everything to exceed expectations.
Geithner does have many detractors because he was on Paulson's team that made many mistakes, but that will make him that much more motivated to run with his ideas and, more importantly, he will no longer be limited by Paulson's myopic thinking.
Geithner will follow Obama's lead of action and not reaction, passion and not apathy, to right our financial system.
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