ABC LOVES Tim Geithner to manage OUR money

Below, is a portion of a linked story regarding Tim Geithner who is in the running for an appointment as Secretary of the Treasury Secretary. This story oozes they love affair that ABC has with this man, another "anointed one" comparing him over and over to Obama. This man, a member of the CFR, decided to let Lehman Brothers fail but decided to rescue Bear Strearns and AIG. Why? Bailing out some Wall Street buddies? Are we going to get a de-facto extension of Henry Paulson, picking and choosing who of his Wall Street friends he'll help out at taxpayer expense? This pattern is sick America. SICK SICK SICK. And the sick reality of the election of the Messiah is that the vast majority of those who voted for change, don't pay taxes or understand how government works.

Treasury Secretary Short List: Tim Geithner
The Federal Reserve Bank of New York President's Life Mirrors Obama's
By CHARLES HERMAN ABC NEWS Business Unit
Nov. 7, 2008


Examine the life story of Tim Geithner, president of the Federal Reserve Bank of New York, and you may think he and President-elect Barack Obama are brothers, separated at birth.
That similarity could be the tipping point that gets Geithner the nomination as the next treasury secretary and that leads the nation through the worst financial crisis since the Great Depression
While few people on Main Street have heard his name, all of Wall Street knows it well. He is the man who has been a principle architect of various plans aimed at rescuing the nation's financial institutions.


From the collapse of Bear Stearns earlier this year to the lifeline to save insurance giant AIG to the aggressive steps taken by the Federal Reserve System in the last few weeks to thaw the frozen credit markets, Geithner has been at the center of the storm.
The parallels between Geithner's story and Obama's are uncanny. Both men are 47 years old and spent part of their youth living abroad. Both have succeeded despite unusual backgrounds. Both men have developed a cadre of powerful and well-connected people who provide advice and guidance. And both men like the occasional pickup basketball game.
Just as Obama lived for a time overseas, so did Geithner. His father worked for the U.S. Agency for International Development and then for the Ford Foundation where he held several positions throughout Asia. Geithner attended elementary school in New Delhi and high school at the International School in Bangkok.


Geithner attended Dartmouth, like his father and current Treasury Secretary Henry Paulson, where he earned degrees in government and Asian Studies. While in school, he studied Chinese and spent two summers living in Beijing. He also met his future wife Carole Sonnefeld at Dartmouth. Later, Geithner received his master's degree in international economics at Johns Hopkins where he also studied Japanese.
Living abroad, his father Peter said, exposed Geithner to people from different backgrounds. "I have been most impressed by his ability to bring people with diverse interests together around a table to find some kind of effective solution or steps to be taken."
Upon graduating, he worked for former Secretary of State Henry Kissinger for three years before moving to the Treasury Department where he worked for nearly 15 years. Starting as an assistant attaché in Japan, he eventually came to work for Treasury Secretaries Robert Rubin and Lawrence Summers and played a key role in the government's response to the Asian financial crisis in the late 1990s.
After a brief stint at the International Monetary Fund, Geithner was selected in 2003 to lead the Federal Reserve Bank of New York. That bank, one of 12 across the country, is responsible for implementing the monetary policy established by the Federal Reserve in Washington, including maintaining the key Federal Funds interest rate that banks charge one another for overnight loans.

In this role, Geithner is the point person between Wall Street and the central bank. During the course of the recent financial crisis, he has earned the respect of hard-charging investment bank CEOs, even though he does not have a doctoral degree in economics or a master's in business administration and he has not worked on Wall Street.

Like Obama, he has risen even while bucking the normal route to success.

And like the president-elect, he has reportedly surrounded himself with a group of experienced advisers that include such economic luminaries as former Federal Reserve chairmen Alan Greenspan and Paul Volcker; former Treasury Secretaries Summers and Rubin; former New York Federal Reserve chief Gerald Corrigan; Merrill Lynch CEO John Thain; and well-respected financial leader and co-founder of private equity giant Blackstone Pete Peterson, with whom he meets on occasion over breakfast.


Peterson ran the search committee that chose Geithner to lead the Federal Reserve Bank of New York. He said that during the vetting process, it became clear that beyond "unfailingly and unambiguously positive references," Geithner's colleagues and previous bosses felt he is "clear thinking and clear speaking in a crisis and not at all reticent to speak his views." Peterson added, "That is something important in a town like Washington."

"Tim would be terrific, cool-headed, experienced, and with kind of flexible mind needed to take the big steps required to deal with the current economic catastrophe," said Harvard professor Ken Rogoff who worked with Geithner at the IMF. "I think it is important also that the new administration not strangle the private sector, Tim is a centrist who would be sensitive to this issue."