Iíve been asking that question for almost a year now (see also here).
Craig Pirrong is asking the same question after Geithnerís comments about American business to a group of reporters at breakfast this past week.
Meanwhile, Larry Ribstein reviews the politics of supposedly ìobjectiveî governmental regulation.
Frankly, given abysmal leadership provided by both the Bush and Obama Administrations, itís a testament to the resilience of American business that the economy hasnít tanked worse than it has.
Well, duh, Tom. The answer to your question is: He became Treas Sec because Obama wanted him to there, and he is still there because Obama still wants him there.
Or was it a rhetorical question?
jdallen
I think it’s more complicated than that. I think Obama would have fired pretty Geithner early in his disastrous tenure (I think everyone agrees that would have been smart politically at the time). The problem was and is that Obama can’t get anyone confirmed anymore without a holy war.
It’s not like Geithner’s an oil well leaking horrible news onto the front pages right now. And Obama needs a confirmation battle like a hole in the head. For the Obama administration, Geithner’s actually flying under the radar right now.
Finally, I’ll ask, what the hell should Geithner have said? Should he have said the recent hallmark “victories” of the Obama administration were a load of crap?
If I follow your reasoning, the answer is YES. Then he would have been fired.