Judging by yesterday's Get-Tough-On-Banks press conference, it seems like Geithner is on his way out the door.Let's hope this is true.
Recall the opening words of Obama's short speech:
Good morning, everybody. I just had a very productive meeting with two members of my Economic Recovery Advisory Board: Paul Volcker, who is the former chair of the Federal Reserve Board, and Bill Donaldson, previously the head of the SEC. And I deeply appreciate the counsel of these two leaders and the board, that they’ve offered as we have dealt with a broad array of very difficult economic challenges.Note the immediate shout-out to Paul Volcker and Bill Donaldson.
Note the glaring omission of Tim Geithner and Larry Summers. What Obama was telling America was "I just had a meeting with two new advisors, and, based on what they said, I'm launching a new policy."
Did Tim Geithner Get Fired Yesterday?
This is an interesting analysis published by Business Insider today: