We have an entire administration that doesn’t know what it is to keep the bottom line “black,” meet a payroll, produce a product or service and work without a fail safe like tenure or seniority. Tim Geithner, Obama’s Treasury Secretary tells us he “never had a real job.”
Treasury Secretary Timothy Geithner is haunted by the misperception that he used to work on Wall Street.
“I find that the charge that — the myth that I worked in Wall Street all my life, somewhat amusing,” Geithner said on CNN’s “Fareed Zakaria GPS.” “But it is part of a narrative that hardened. People came to view the judgments we were making through the prism of a myth…it’s actually very damaging. It’s completely false, of course, and it, you know, should have been corrected a long time ago.”
Geithner has worked in government his whole life. Before becoming Treasury secretary, he was president of the Federal Reserve Bank of New York, which is a government job but is closely associated with Wall Street. The New York Fed president is selected by a board of private sector bankers and other private sector officials but has to be approved by the Federal Reserve Board in Washington. Almost all of the New York Fed’s profits get turned over to the u.S. government.
“What I say is the I never had a real job,” Geithner jokes