One of the criticisms of Treaury Secretary Timothy Geithner is that he’s been way too chummy with big Wall Street bankers.
So here’s an idea: Let’s just replace him with a big Wall Street banker.
Today’s New York Post reports that JPMorgan Chase CEO Jamie Dimon may be next in line for the job as some members of Congress have already asked for Geithner’s resignation. Click here to read Post story.
Dimon seems to be more in touch with the anger aimed at Wall Street, refusing to write fat bonus checks to retain talent as he navigates his way through the financial crisis, the Posted reported.
Dimon has reportedly said he does not want to be perceived as gunning for Geithner’s job – which sounds to me like he might just be gunning for Geithner’s job.
Geithner, under fire last week from Republicans for bailouts that did not prevent double-digit unemployment, again blamed the Bush administration for the financial crisis. Click here to read story.
“You gave this president an economy falling off the cliff,” he told Rep. Kevin Brady, R-Texas. “Values of American savings cut almost in half; millions of Americans out of work; again, the worst financial crisis we’ve seen in a generation.”
Lest we forget: Before Obama named him Treasury Secretary, Geithner was chairman of the New York Federal Reserve Bank, making him the second-most powerful central banker in the world.
I’m all for blaming the Bush administration whenever possible since all of this indeed began on Bush’s watch. But doesn’t Geithner bare at least some responsibility for this mess? Because it happened on his watch, too.