Sunday, August 07, 2011

Geithner Staying on as Treasury Secretary

Staying Put: It couldn't have been a good week...or a good month...or likely a good year for Timothy Geithner. The treasury secretary had to sweat it out as Congress screwed around, arguing back and forth, about whether to lift the debt ceiling. Would the U.S. default on its loans? Congress finally agreed on a deal to raise the debt level this past week. But then Friday night, Standard & Poor's lowed the country's credit rating, an historic move, citing all the political bickering going on in Washington, along with the fact Congress didn't put added revenues into the compromise. The White House confirmed today Geithner will not quit his post, as had been rumored.

This comes after Republican presidential candidate Michele Bachmann called for the president to fire Geithner. I haven't found any other candidate to make that call.

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