Even though both the Republicans and the Democrats are calling for his resignation, Treasury Secretary Tim Geithner will likely stay on in the coveted position. According to the experts on the subject the real question here is how does the criticism limit his ability to be effective in the role that was created for him.
As an example, he’ll need to take a leadership role in deciding what to do with the hundreds of billions of dollars that have been left over in certain coffers like the Troubled Asset Relief Program. Of equal importance, Geithner will be central to the debate as to whether more money should be used as stimulus to create jobs. The nation’s unemployment rate is at a 26 year high and over 10 million.
As well, he’s at the center of the debates that are raging on about the best way to reform the banking system in general and Wall Street in particular. The problem is the criticism that has largely stemmed from the unemployment rate which is much higher now than when the government first introduced stimulus proposals.