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  • 3
    Jan
    2013
    2:59pm, EST

    Geithner to leave Treasury post by this month?

    By NBC's Mark Murray

    Earlier today, Bloomberg News reported that Treasury Secretary Tim Geithner is planning to leave the Obama administration by the end of January, even if the White House and Congress haven't yet reached a deal on the debt ceiling by then.

    In response to a question from First Read about the article, a Treasury spokesperson says that Geithner has previously stated he plans to stay "until around the inauguration" -- so late January.

    "Secretary Geithner has previously stated that he plans to be at Treasury until around the inauguration," the spokesperson said. "We do not plan to make any further announcements about the timing of the Secretary's departure until after his successor is named."

    Geithner, 51, is the only remaining original member of Obama's cabinet and has been an instrumental figure in the administration's handling of the bank bailouts and economic recovery efforts in the wake of the 2008 financial crisis. 

    Prior to joining the Obama administration, Geithner served as the president and CEO of the Federal Reserve Bank of New York. He first joined the Treasury department in 1988 and served in various roles under three separate administrations.  

    One possible contender for the job after Geithner's departure is current White House Chief of Staff Jack Lew, who previously served as the Director of the Office of Management and Budget.

    NBC's Carrie Dann contributed to this report.  

     

    206 comments

    Another DemocRAT scurrying off the sinking ship.

    Show more
    Explore related topics: white-house, treasury-department, tim-geithner
  • 25
    Jan
    2012
    4:46pm, EST

    Geithner says he doesn't expect to serve second term

    By Michael O'Brien, msnbc.com
    Follow @mpoindc

     

    Treasury Secretary Tim Geithner suggested Wednesday that he's highly unlikely to stay in the Obama administration for a possible second term.

    Geithner said that he would not expect President Obama to ask him to stay on for a second, four-year stint should Obama win re-election. And even if he were to ask, Geithner said he had planned on pursuing "something else."

    "He's not going to ask me to stay on, I'm pretty confident," Geithner said in an interview with Bloomberg Television. "I'm confident he'll be president, but I'm also confident he's going to have the privilege of having another secretary of the Treasury."

    Geithner has been one of the few figures of continuity among Obama's economic team, having served since the beginning of the administration. He had mulled resigning last summer, after the bulk of the new Wall Street reform law had been implemented, but announced his decision to stay in the administration through the re-election at the request of Obama.

    Geithner's overseen one of the rockiest periods for the American economy during his few years in office. In addition to helping spearhead the financial regulatory reform law, Geithner helped pilot the latter phases of the 2008 Wall Street bailout, and the 2009 rescue of General Motors and Chrysler.

    During his tenure, Geithner has weathered demands for his resignation from a number of senior Republicans. Many had disapproved of his economic stewardship, and, before that during his confirmation fight, seized on taxes he had failed to pay on employing a housekeeper.

    If Geithner does not serve a second term, it will mean that Obama, if he's re-elected, will be forced to fill at least two major posts next year. Secretary of State Hillary Clinton has also said she intends to step down after Obama's first term is complete.

    228 comments

    They're jumping like rats! Obama's not going to ask him to stay on because it won't be up to him.

    Show more
    Explore related topics: economy, barack-obama, tim-geithner, decision-2012

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