I revise my earlier statement about Geithner. It seems he is a very talented man, has been involved in very high level offices when it comes to money and economics. I guess I just am looking for that older, academic type of economist to be the face of this crisis. I am looking for the reassuring type of “grandfather” who has deep roots in economic formulas and understanding. Geithner does not fit that bill, but when I read of his past, I do believe he is the best man for the job.
I did some research on Geithner and his role in the collapse of Lehman Brothers, and I found this very interesting article by the Washington Post. It recounts that Bernanke, Paulson and Geithner were almost like a “trifecta”, with each man bringing different strengths to the table, reasoning out with numbers and knowledge how to handle this crisis. They challenged each other until a solution was found. Sounds like three very logical, mathematical men. Whether history will determine if their decision to let Lehman fail was the right choice is still unknown. No one knows what would have happened if Lehman’s deriviatives were bailed out by other banks – and how those toxic assets would have worked itself through the system. Much of today’s criticism of Geithner, Paulson and Bernanke is that none of these men saw this coming, or did anything to prevent the meltdown we are experiencing today. It is an unknown. However, Geithner’s qualifications are not unknown.
I am citing some interesting articles about Geithner below.