Every time I see Tim Geithner I can't help but think of Billy Crudup who played Geithner in "To Big To Fail" about the financial crisis. That's weird and I realize that, but Billy Crudup is "The Watch" is way weirder.
Regardless, Friday is Geithner's last day at Treasury is tomorrow and to that end the Associated Press has a round up of some of the most contentious policies Geithner inherited, implemented, and supported during his tenure. It's definitely worth a read and I would note two things:
1) This is a Treasury Secretary that faced unprecedented challenges before he was on the job and while he was on the job. Certainly quibble with the man's performance, but I don't see how he can't be considered a great Treasury Secretary. It's impossible to prove the counter-factual, but things could have been far worse.
2) The two of the three most derided of the bailouts, TARP and AIG, have shown about 20% returns past the original amount. Plus we didn't crash our entire financial system, so bonus! There's a very serious argument to be made regarding banks, implicit government guarantees, and moral hazard, but hard to argue with making money while saving the financial system.
Regardless, Friday is Geithner's last day at Treasury is tomorrow and to that end the Associated Press has a round up of some of the most contentious policies Geithner inherited, implemented, and supported during his tenure. It's definitely worth a read and I would note two things:
1) This is a Treasury Secretary that faced unprecedented challenges before he was on the job and while he was on the job. Certainly quibble with the man's performance, but I don't see how he can't be considered a great Treasury Secretary. It's impossible to prove the counter-factual, but things could have been far worse.
2) The two of the three most derided of the bailouts, TARP and AIG, have shown about 20% returns past the original amount. Plus we didn't crash our entire financial system, so bonus! There's a very serious argument to be made regarding banks, implicit government guarantees, and moral hazard, but hard to argue with making money while saving the financial system.
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