According to an Associated Press story on Ron Suskind’s new book, “Confidence Men: Wall Street, Washington, and The Education of A President,” Treasury Secretary Timothy Geithner is to blame for the White House’s failure to get tough with Wall Street. The AP reports:
In the book, Obama does not deny Suskind’s account, but does not reveal what he told Geithner when he found out. “Agitated may be too strong a word,” Suskind quotes Obama as saying. Obama says later in the book that he was trying to be decisive but “the speed with which the bureaucracy could exercise my decision was slower than I wanted.”
Geithner says in the book that he did not recall that Obama was mad at him about the Citigroup decision and rejected allegations contained in White House documents that his department had been slow to enact the president’s plans.
“I don’t slow walk the president on anything,” Geithner told Suskind.
Hard to see how Obama comes out looking good either way here. Either Obama told Geithner to break up Citigroup, Geithner ignored him, and Obama did nothing; or the whole story is a farce and some forces in the White House are trying to make a villian out of Geithner to protect Obama. So far, those Obama supporters most upset about the bailouts are not buying the Geithner-did-it theory. Firedoglake‘s David Dayen writes:
Real journalism.Trusted by millions.
Unlimited access to in-depth reporting, expert analysis, and the stories that shape our country.
Already a member? Log in