Changes

'''Timothy Geithner''' (b. 1961) became the Secretary of the Treasury in the [[Obama Administration]] in January, 2009. Educated at Dartmouth and Johns Hopkins, he spent many years abroad. Previously he was president of the powerful Federal Reserve Bank of New York. He is a nonpartisan technical expert who worked for both republican and Democratic administrations. In 2008 he was deeply involved in the complex moves by the Federal Reserve and the Treasury to bailout banks in the [[Financial Crisis of 2008]]. That included $700 billion in money sought by president [[George W. Bush]] and passed by bipartisan majorities in Congress in October, 2008, and trillions in loan guarantees made by the Federal Reserve on its own authority. Geithner now is the person most responsible for bringing recovery to the economy.

'''Timothy Geithner''' (b. 1961) became the Secretary of the Treasury in the [[Obama Administration]] in January, 2009. Educated at Dartmouth and Johns Hopkins, he spent many years abroad. Previously he was president of the powerful Federal Reserve Bank of New York. He is a nonpartisan technical expert who worked for both republican and Democratic administrations. In 2008 he was deeply involved in the complex moves by the Federal Reserve and the Treasury to bailout banks in the [[Financial Crisis of 2008]]. That included $700 billion in money sought by president [[George W. Bush]] and passed by bipartisan majorities in Congress in October, 2008, and trillions in loan guarantees made by the Federal Reserve on its own authority. Geithner now is the person most responsible for bringing recovery to the economy.

Geithner got off to a very bad start. He was publicly humiliated by the Senate (controlled by Democrats) when it seemed he deliberately evaded over $40,000 of federal taxes. He paid the taxes and penalties and was confirmed, with most republicans opposed.

Geithner got off to a very bad start. He was publicly humiliated by the Senate (controlled by Democrats) when it seemed he deliberately evaded over $40,000 of federal taxes. He paid the taxes and penalties and was confirmed, with most republicans opposed. Even online moonbat refuge Huffington Post was skeptical when Geithner tried to blame his tax problems on Turbo Tax. <ref>http://www.huffingtonpost.com/2009/01/21/turbo-tax-blamed-for-geit_n_159810.html</ref>

 

==Treasury Secretary==

==Treasury Secretary==

[[Image:Geithner1.jpg|thumb|370px|Critics feared Geithner's vague plans would crash]]

[[Image:Geithner1.jpg|thumb|370px|Critics feared Geithner's vague plans would crash]]

 

Geithner and the [[Obama Administration]] moved moved to handle the crisis on two fronts.  Working with Democrats in Congress (and three moderate Republican Senators), they passed the an economic stimulus bill, the "[[American Recovery and Reinvestment Act of 2009]]", with $500 billion of new spending and nearly $300 billion in new tax cuts. The stimulus will begin operations in mid-February, 2009, and supporters hoped it would slow the nosediving economy.  Conservative critics feared it would be ineffective in the short run and add to the national debt and tax burdens in the long run.

Geithner and the [[Obama Administration]] moved moved to handle the crisis on two fronts.  Working with Democrats in Congress (and three moderate Republican Senators), they passed the an economic stimulus bill, the "[[American Recovery and Reinvestment Act of 2009]]", with $500 billion of new spending and nearly $300 billion in new tax cuts. The stimulus will begin operations in mid-February, 2009, and supporters hoped it would slow the nosediving economy.  Conservative critics feared it would be ineffective in the short run and add to the national debt and tax burdens in the long run.

===Vague bailout plans===

===Vague bailout plans===