The Closet Moderate: Top Gun

Friday, November 21, 2008

Top Gun

Apparently Tim Geithner is in at Treasury (and the markets rejoiced). While I'm not particularly familiar with Geithner, what I've read about him suggests that he's a pretty good pick. To review my criteria from my inaccurate prediction of Bloomberg as SecTreas:

1) Intimately familiar with Wall Street. The NY Fed (which Geithner was president of) deals extensively with Wall Street, and Geithner was heavily involved in the various bailings-out that Treasury and the Fed have undertaken. Grade: A

2) But not a Wall Street CEO. In fact, as far as I can tell, Geithner has never been paid a dime by any Wall Street firm. Grade: A

3) Somewhat non-partisan. Geithner was a moderate Republican in 1988 when he started working for the Treasury Department and became an Independent when he was working for the Clinton administration. Grade: A

4) Incorruptible. Here, he's got a bit of a leg down on Bloomberg. While I doubt he's going to pack the 0.7 teradollars into his suitcase and abscond with it, as a career public servant he ain't Bloomberg rich. On the other hand, as a veteran out-bailer from the Clinton years, he's presumably faced and overcome his share of absurd bribes. Grade: B+

Overall, an excellent pick.

No comments: