Understaffed Geithner can't keep up, critics say

[bijou]

WASHINGTON (AP) — For five weeks, Treasury Secretary Timothy Geithner has battled the worst economic crisis in generations with no key deputies in place. That's made for a rocky debut for the man President Barack Obama put in charge of addressing the financial crisis.

With an awkward first television appearance, a bank rescue plan that lacked promised specifics and two restructured bailouts that raised taxpayer risk, Geithner has failed to calm financial markets desperate for answers.

Critics say part of the problem is that Geithner is flying solo: Not one of his top 17 deputies has been named, let alone confirmed. And without senior leadership, lower-level Treasury employees can't make decisions or represent the government in crucial conversations with banks and others.

As Geithner strives to address the financial crisis, advance Obama's agenda and work with foreign leaders to stave off economic disaster, he's assembled a 50-person "shadow cabinet" of would-be appointees. Those people have received hall passes and can advise Geithner, but they lack any authority.

...Among the harshest critics of Treasury's leadership vacuum is Paul Volcker, an Obama economic adviser and former Federal Reserve chairman who last week called the situation "shameful."

"The secretary of the treasury is sitting there without a deputy, without any undersecretaries, without any, as far as I know, assistant secretaries responsible in substantive areas at a time of very severe crisis," Volcker said. "He shouldn't be sitting there alone."

The White House took issue with Volcker's statement, saying Geithner has plenty of able staffers. Former Treasury Secretary Lawrence Summers, Obama's chief economic adviser, has worked closely with Geithner for years.

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Surprising to see AP being so critical, where's the love?

[JohnnyReb]

Well, at least the "rats" aren't fleeing a sinking ship.....hell, they never got on.

[asdf2231]

link

Surprising to see AP being so critical, where's the love?

When the MSM is trashing a Democrat you know that the ship is losing fleeing rats and about to sink.

[SaintLouieWoman]

Nobody wants to get on that sinking ship, probably because they all have tax issues.

[Chris_]

Nobody wants to get on that sinking ship, probably because they all have tax issues.

Watch for Geithner to have tax "problems" again this year.  He's too busy saving the country to file by April 15th.