Wednesday, March 18, 2009

FT Takes Swipe at Geithner

FT's lead story this morning features Geithner criticism:

Speaking on condition of anonymity, senior Democratic figures questioned
whether Mr Geithner has the credibility with the markets and Capitol Hill to push through a new request for funds. “The more time passes, the more convinced I am that Tim Geithner is becoming a liability for the administration,” said one Democratic lawmaker.

Analysts say President Barack Obama would face steeper odds persuading Congress to authorise more money to recapitalise the banking sector if Mr Geithner was the one making the request. Mr Obama included a $250bn (€192bn)financial sector bail-out item in the budget he announced last month implying the administration will need up to $750bn more in troubled asset funds.
Looks like countdown time to Geithner resignation.

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