As the deadline to raise the U.S. debt limit creeps nearer, Bloomberg is reporting that Treasury Secretary Timothy Geithner is mulling a departure from the administration after a deficit deal between Congress and the White House is forged.
[Geithner] 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 discuss private discussions.
Update: In an appearance with former President Bill Clinton at a Clinton Global Initiative event Thursday evening, Geithner said for the "foreseeable future," he will continue in his position. "I live for this work. It's the only thing I've ever done. I believe in it," he said, according to the AP. Geithner added: "We have a lot of challenges in the country and I'm going to be doing it for the foreseeable future."


In my lifetime I have NEVER seen so many rats scurrying to get off a sinking ship as this. They gnaw holes through the rotting bulkheads then flee.
Good riddance Timmy...your work is complete. Your contribution to our financial mess surpassed all our expectations.
Whew, I am glad to hear we will have the knowledge and expertise of a known tax cheater remaining as the Treasury Secretary. Even if it does appear the administration did more to fill the swamp then drain it. Besides, even the law of averages would suggest Geithner is bound to get something right eventually.
I wonder? Geithner, Rangle, Weiner, Dodd, Obama................uh.......................well nevermind, Holder's in charge of the DOJ.
But the dow is up by 7% so far this year. Wow. I tell you it's because of obamacare. Nothing like the free market. No. No. Say mr grover's gop. Lower taxes again like in 2000 - 2008 & let's crash the economy again like it was 1929.
Buy i tell you again. If apple computer the world's 2nd largest company was in the dow, the dow would be a lot higher. Growing a lot faster. Everybody knows the 2nd largest company in the world apple computer should be in the dow. It just moved soooooo quickly after obama took financial control of our economy that it caught the dow jones company completely by surprise. They got tooooo used to the shrinking mr grover's 1 world govt economy of 2000 - 2008.
But mr grover's new world order minions will tell you unemployment is the real measure. They never tell what every economist knows that unemployment is the last thing that recovers from a depression. Yes. Yes. The last thing.
The industrials have recovered. The rich are shopping at sach's 5th avenue. While unemployment remains high. It is not unexpected after a depression. It took fdr 15 years, a world war fought in asia, europe, africa, even north america, and don't forget that two nuclear bombs were needed to be used on densely populated cities to shorten the wars before employment was restored to normal levels. It took 15 years at least. I tell you that mr grover knows it too. Unemployment is the last thing that recovers after a complete economic collapse.
are you always this optomistic? You want to talk housing? The culprit in this entire charade? Or how about QE1 and 2? How about Stimulus debt? How about deficit????
So 9%+ unemployment is on track?
These Harvard academia types have certainly screwed this country over with Obama at the helm. What a friggin' joke at our expense. From Larry Summers to you name it, these are ALL Harvard throw-backs who have taken our country down and not a ONE of them have ever run a business. Get Obama the hell out of that office.
Hey, who is left in Washington besides Jeff Immelt who ran GE (no taxes and a whole bunch of "Green" subsidies) and he's Director of Jobs (suurre he is) but anyway, who is left in Washington that's run a company, owned a company, been a manger of a company, who's actually done "business" or are our businesses in this country putting up with "theories, rules and regulations" put out by people who don't have a clue??? Just wondering.
Joe Biden had a paper route.
It's time we really, really, really start thinking about how much we want POLITICIANS to run and manage our economy. Look at the mess they've made of it. Look at how they twist it in every way to get re-elected. Look at how they plunder it to enrich their benefactors. Look at how they loot it and dump the bill on our kids and grand kids to keep us quiet and "secure."
If we made as clear a division between business and government as we do between religion and government about 90% of these issues would go away, as would most of these god-awful politicians. And we'd get people in government with a higher set of values than in just bleeding us white.
But obama was right. With obama you get good judgment. And mr grover's gop, birthers, & tea party are horrified by his decisions. It's because they are ideologues. One trick ponies. They lack what obama's got.
And i tell you it can be fatal. You had a glimpse of Obama's judgment when he shot those three sumali hijackers each simultaneously through the windshield of a boat from another boat in the open sea when they had their guns pointed to the head of the captain. I tell you nobody would have expected it. Nobody would have even tried it. But with obama, you need to consider all possibilities. They hijackers missed one possibility and paid for it with their lives.
The same for bin laden. He overlooked a possibility. He did not consider everything. He needed to do that. Then he needed the best judgment in the world to get to the right decision to determine his course of action. He didn't and lost his life too. I tell you obama has great judgment. He considers all possibilities and figures out the best way and gets the job done.
Change i can believe in.
you're kidding right? A tad fascetious maybe?
Marshall - Have you been living on another planet? Obama has zero judgement. Look at the huge debt he ran up and look at unemployment over 9%. You call that good judgment? Give me a break.....
Geithner with his strong ties to the money hungry people on Wall Street has been a part of the problem all along. Good riddance.
@Chris-#60: I agree with your post. But, the problem all along has been Supply Side Economics. Until US ditches SSE there will not be be any recovery that benefits the American people.
Sheila Bair must be his replacement. None other will do.
This will be a good event for America if little Timmy goes; maybe Obama will get someone that is not a Wall Street slave! Maybe Obama will get someone that is for the working middle class, "not someone that the majority of the present Republicans support either," because most of the Republicans are Wall Street and big corporation friends too! As for Timmy, he's got a history of Wall Street and you know he's not going to do anything for the working class. Bill Daley is another one that should step down from the administration too!
WANT ADS:
Secretary of Treasury: tax cheat, questionable morals, Socialist who will parrot Obama's big gov't agenda, previous real world experience not required. Patriots, military heroes, and budget balancers need not apply.
The official John Boehner response to Timothy Geithners possible resignation:
Is it happy hour yet?
People with substantial wealth in this country are getting their US dollars into foreign currencies, gold, silver, and foreign securities right now faster than poop passes thru a tin goose.
The devaluation of the US dollar is inevitable and Geithner knows it and he will not stick around to take the heat.
Wow!!! I ''HOPE" the libs enjoy that "CHANGE"
Geither leaving would be a Great Improvement.
I want Sheila Bair to replace him immediately. And I hope Geithner blows the whistle on those Goldman, Banker, and Wall Streeter manipulators and thieves. Maybe it'll shorten his time in Leavenworth and lenghten theirs.
He won't though.
Timmy needs to leave ASAP. Only problem is which clown Obama will pick to replace him!
Probably someone from academia that never had a real job and never produced a valid good or service for this country that has been living off the government....like......Obama himself!!
Either way Geithner stays or goes, have the feds collected all his years of back owed taxes? Immediately after Obama appointed him Secretary of the Treasury, information was released he innocently "forgot" to file his taxes for over 8 years that we know of. If this known tax evader walks out of Obama's administration, who is left for the president to blame his mishandling of the country's economic situation and budget crisis? Is the scattering of his staff and appointees a sign of terrible things they since learned and don't want to be a part of whenever the "details" finally hit the fan?
wonder if he's mulling paying his back taxes anytime soon? Holder should be mulling throwing his ass in jail.
But i tell you again. Today, you need a president with an open mind. Someone who considers all possibilities & then has great judgment. No. No. Says mr grover's birthers, tea party, & gop. Lower taxes is all that's needed.
Ridiculous. Between 2000 & 2008 mr grover lowered taxes year after year. Disaster & more disaster. Complete & total economic collapse. But hey, so what if they don't consider the recent past. What kind of judgment do they show. I tell you they are what are called one trick ponies. With one trick only. It's always and always has been lower taxes. And after that lower taxes again. Same with energy. Drill baby drill. And after that drill baby drill. Don't they use their imaginations at all.
And when the dow industrials are showing complete recovery they drone what about unemployment. You tell them again and again. Unemployment is the last thing in a recovery after a complete economic collapse like in 1929 & 2008. It took fdr over 15 years to bring the country back to full employment. Plus mr grover's 1 world govt want to collapse the economy again with even lower taxes. I tell you they define one trick pony with one trick only. Like the pony, they can only jump and kick their heels up while they are in the air. It gets tiresome after 10 years.
I tell you again. This is the age of the internet. The entire world is connected now. It is time to get over this closed mindedness of mr grover. You need to use some reasoning. You need to collect the facts. Then you need to show some judgment. I tell you just jumping in the air and kicking your heels in the air isn't going to work today after you have been doing it for 10 years. Especially after it has been proven the trick to been a complete economic failure like it was 2008.
Looks like Tim is going before runaway inflation brings unrest to the 'unwashed'. Wonder if Bernanke will get on board the liferaft, before the other passengers figure out that the ship is taking in some water...
What "deal"? Yep it sounds like Mr. G. is going for the life boats before the water hits the deck.
Hmmm. Very strange. It sounds like the story of the rats and the sinking ship. Now that the "stimulus" has done nothing but burn us vastly deeper into debt and threaten the entire global financial stability (as we all shake with fear over a fifth rate economy like Greece defaulting), maybe it's time for someone who knows the difference between money and wealth to get the job. And maybe he'll take Bernanke with him.
The truth must revealed to all, and all can make a true sound judgement to the hoax pushed on all global citizens. A scientist by the name of Royal Raymond Rife discovered that the unique electronic "signature" of each specific disease can be modified to eliminate nearly every affliction know to man. And it is rapid and completely harmless, without side effects. In 1900, while attending the annual AMA convention in St. Paul, Minnesota, three doctors came up with the always-destructive but all-too-human idea of using the AMA as a front, in order to form a closed corporation for their financial benefit. A constitution, bylaws and a charter were created which appeared to give the members of the AMA a say in the activities of the corporation, whereas in reality the three directors had complete control. These three formed smaller political machines in every state, which they controlled through the main corporation.
Morris Fishbein 1924 Director of AMA. Destroyed credibility of Royal Raymond Rife. In 1934 Fishbein owned all of the stock of the AMA. This the crime of all Centuries and all people of all races, colors and creeds.
Stop "mullling" and LEAVE NOW you Lying TAX CHEAT. That way there will less TRASH to throw out in 2012. Starting with the biggest piece, your useless "boss" obama.
I bet he going to do for Turo Tax what Bob Dole did for Viagra, be the national spokes person.