Geithner Out at the Treasury: Source
By PAUL JACKSON
April 1, 2009 8:31 AM CST
“It’s being done quietly, but the President has asked Geithner to step aside,” said a source close to the Cabinet with knowledge of the decision. “He feels there is too much of a lack of trust, and he was frankly expecting more of a bounce in financial markets from the PPIP than what’s been seen so far.”
The Geithner-led Treasury has had difficulty filling key positions since his appointment. After the fourth potential senior Treasury roster nominee dropped from the running earlier this month, sources told the Washington Post that under-staffing issues might hamper the Treasury’s ability to handle the financial crisis.
Gus O’Donnell, Cabinet Secretary for the British government, suggested to various British media in recent weeks that it has been “unbelievably difficult” to talk to people at the U.S. Treasury, saying “there is nobody there.”