According to a few news sources Treasury Secretary Turbo Tax Tim Geithner plans to leave the administration at the end of January no matter what the status of the debt ceiling negotiations.
After giving in to Obama’s previous entreaties to stay as long as needed, Geithner has indicated to White House officials and Wall Street executives that he is unlikely to change his departure plans this time, increasing pressure on the president to name his successor at Treasury, said the people, who requested anonymity to discuss the private talks.
It was just 29 months ago that the Treasury Secretary penned the now-famous essay “Welcome to the Recovery” In this fantasy piece Geithner detailed all the reasons why the economy had
turned the corner. And we all pray that one day his dream will come true.
While no reason was given for Geithner’s exit, the most logical reason is with the new income tax structure and Obamacare taxes he wants the extra time to prepare his returns accurately (we know how important that is to Tim).
The speculation about a replacement is centering around White House Chief of Staff Jack Lew, but because of his lack of financial market experience some are saying Obama may go to those big evil corporations that make too much money for a replacement.