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He is a nonpartisan technical expert who worked for both Republican and Democratic administrations.  

He is a nonpartisan technical expert who worked for both Republican and Democratic administrations.  

==President of New York Federal Reserve Bank==

==President of New York Federal Reserve Bank==

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.   

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 was appointed to the Treasury largely on the basis of his work at the New York Fed. His most important action there was design the bailout of giant insurance firm [[American Insurance Group|AIG]], with 80% government ownership of AIG. It received $170 billion from the government. AIG scandalized the nation in March 2009 by giving out $165 million in bonuses to the very people who caused it to lose over $60 billion after the government took it over.  

Geithner was appointed to the Treasury largely on the basis of his work at the New York Fed. His most important action there was design the [[bailout]] of giant insurance firm [[American Insurance Group|AIG]], with 80% government ownership of AIG. It received $170 billion from the government. AIG scandalized the nation in March 2009 by giving out $165 million in bonuses to the very people who caused it to lose over $60 billion after the government took it over.  

==Treasury Secretary==

==Treasury Secretary==

===Bailout plans===

===Bailout plans===

With banks on the verge of failure, Geithner unveiled yet another massive bailout program in mid-February. Trillions would be spent to move toxic assets out of the banks, but the unanimous reaction was negative and Geithner hung on to his job, but had to come up with a better plan. Geithner has the authority to decide what to do with the second tranche of $350 billion from the $700 billion banking bailout bill passed by Congress in October 2008.  

With banks on the verge of failure, Geithner unveiled yet another massive [[bailout]] program in mid-February. Trillions would be spent to move toxic assets out of the banks, but the unanimous reaction was negative and Geithner hung on to his job, but had to come up with a better plan. Geithner has the authority to decide what to do with the second tranche of $350 billion from the $700 billion banking bailout bill passed by Congress in October 2008.  

[[Image:Toxic-2-assets.jpg|thumb|290px|left]]

[[Image:Toxic-2-assets.jpg|thumb|290px|left]]