Treasury Secretary Timothy F. Geithner has signaled to White House officials that he?s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.Geithner hasn?t made a final decision and won?t do so until the debt ceiling issue has been resolved, according to one of the people. All spoke on condition of anonymity to talk about private discussions....
Geithner, 49, has told associates he needs a break from government service after dealing with the turmoil that followed the collapse of Wall Street firms, including Bear Stearns Cos. and Lehman Brothers Holdings Inc., first as president of the Federal Reserve Bank of New York and then as Treasury secretary....
If Geithner does leave the administration, Obama would be losing a member of his economic team who understands Washington institutions and the New York banking world as well as the intricacies of the Chinese economy. Geithner has pressed the Chinese to let their currency appreciate faster to reduce the global imbalances that both he and Obama have blamed for financial uncertainty.
Here's a suggestion for his replacement, not a specific person but an idea: how about someone not from the New York banking world? Maybe someone who doesn't believe in the confidence fairy and is more concerned with job creation than appeasing the bond market. Maybe this guy. Just a thought.
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