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February 4, 2013

Banks, at Least, Had a Friend in Geithner

“Timothy Geithner left the Treasury Department last week after four years as secretary. So how did he do?

As financial adviser to the president in the tumultuous years immediately after the credit crisis, Mr. Geithner had immense sway over the government’s approach to all things economic. For everyday Americans, his major tasks included responding to the home foreclosure mess, unwinding federal bailouts under the Troubled Asset Relief Program and tackling the problem of financial institutions that are too big to manage and too interconnected for America’s good.

But in scanning these agenda items, a pattern of winners and losers emerges. Let’s just say the financial institutions that dominate the United States were rarely on the losing end in the Geithner years.”

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Read Gretchen Morgenson’s full New York Times article here

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