The man is mired with problems:
- The housing problem
- The banking problem and plan (or lack thereof)
- The stimulus
- The bailouts
- The lack of assistance
- The alleged awareness of bonuses
- And now… the growing calls for his resignation or replacement
The president has compared him to Alexander Hamilton who was the last Treasury Secretary to have faced such a multi-layered problem. The New York Times is running a piece today about Geithner and the growing dissatisfaction. Is he one of those who only looks good on paper? Yes or no, I feel bad for the man. It hasn’t even been half a year and there are already calls for his departure. As much as I’d like to speak well of Geithner, just to differ from the others who have expressed dissatisfaction, the only thing I like so far about him is that he’s far more eloquent than Paulson, who as a former Goldman Sachs executive I would expect to be a better non-stuttering speaker than he was. Just thought I’d quote this from the paper:
At 47, the same age as the president, Mr. Geithner works out at 5:30 a.m., gets to his desk by 6:30 and leaves 15 hours later.
And yet people are not happy. If he does depart, who then would make for a good replacement? The big bears Roubini, Taleb? Economists such as Shiller, Johnson? Those are just from the top of my head and probably are not even for serious consideration (except the economists).