Sunday, March 1, 2009

Treasury Secretary Tim Geithner was President Barack Obama's pick to pull us out of a recession, but nobody thought he'd have to do it by himself or without key staffers.

But as news leaked Thursday that top, expected nominees for Treasury posts were bowing out of the confirmation process, Geithner looked more alone than ever.

Geithner’s top choice to be his deputy Treasury secretary, Annette Nazareth, stepped aside, citing personal reasons. Geithner’s pick for Treasury undersecretary of international affairs, Caroline Atkinson, also took her name out of the running for that job.

Their decisions leave Geithner with two senior openings for the positions that were supposed to communicate with domestic and global financial firms about Obama's plans for stabilizing the banking sector.

The personnel changes also will likely compel Obama to once again reassure the markets that his administration is prepared to lead the country out of recession—even if key posts are vacant for now.

Nazareth spent nine years at the Securities and Exchange Commission, first as director of its market regulation division and later as a commissioner.

However, Nazareth’s time at the SEC proved to be a liability rather than an asset. Senate Democrats feared that Republicans would try to tie Nazareth to Wall Street scandals, include the alleged Bernie Madoff "Ponzi scheme", in light of reports that the scheme was repeatedly overlooked by regulators during those years.
Everyone he picks will turn him down maybe not Burris from Illinois. His picks turn out to be either be crooks who are afraid of getting exposed or if they have a brain and any sense of decency, they will not want to be associated with this trash

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