Thursday, March 26, 2009

Tim Geithner Too Quickly Judged?

The United States Treasury Secretary Tim Geithner took a lot of heat in the early going. First it was the revelation that he incorrectly under reported his taxes. Then it was the fact that he gave a broad and unrevealing first speech to the American Public about his plans to free up credit in the banks. All this led to a quick negative image of Tim Geithner in the media.

In my opinion they jumped on the guy much too early. Afterall he has only been at the head of the Treasury for 2 months now, and unlike taking a position for a corporation, stepping into the financial position liek this for the entire country, and one that is in extreme financial trouble can not be easy. From the very start the media began critacizing him. What did they expect? Did they think he could come up with a plan to reverse all the damage done from years of neglect, in just a few weeks?

Anyway, it now looks like the media has turned the other way. Geithner has revealed a plan that seems quite ingenious if it works like it's supposed to. By leveraging government money he is already attracting numerous investors to buy up the toxic bank assets as an investment, giving the banks more cash to lend out. The transformation he has made in just weeks, image wise, make me wonder if he can turn his public image around so fast, in an organized smart manner, then maybe he can actually turn this financial mess around faster then most experts believe. With Investments already seeming to have an upside, we just may see more then many expect in a economic sense. We'll have to see if Geithner can stay on course or if unknown circumstances throw a wrench into his plans.

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