So what about Timmy?
Today is undoubtedly Benny Bernanke’s day. He knew it when he woke up this morning; you and I knew it when the markets soared.
Slapping on his white three-fingered gloves and donning his wizard hat, Benny climbed on top of his tower and with a single flick of his magic wand, sent markets worldwide up $1.7 trillion. Traders cheered, the administration seemed happy, the dollar is dead, and bubbles are expanding.
Consequences of Bentasia aside, he’s kind of a hero today.
But what about Timmy?
Poor little Timmy has been put on death watch by CNBC’s John Carney and, while I don’t agree with him on other matters, I think he could be right on this one.
Since the man started, there’s hasn’t been a lot of respect for him going round, Jimmy Cayne once called him a homosexual office clerk, politicians have been clamoring for his head time and again, and lately, his weak stance on the trade wars did very little for his already lackluster image.
Despite those setbacks however, Geithner’s been going on just fine. But now, enter politics.
As Carney noted; the Dems, in an effort to clean up their act will likely send out a message of more sleeves-rolled-up “change”. And with the majority of Americans blaming the administration for the economy, Geithner, holding the top slot, would most likely have his head called to roll for the last time.
John CarneyGeithner's best hope for keeping his job may have been for the GOP to take the Senate. In that case, the administration may have feared Republicans would block the nomination of his successor. But with the Democrats still controlling the nominee confirmation process, the administration will have a more leeway to pick a replacement.
Perhaps he could ride on Bernanke’s newfound glory a bit?
Either way, what do you guys think will be in the future for Timmy?
Will he finally get the sack?
Will he actually end up at GS?
Once thing’s for sure though, while he isn’t the best Treasury Secretary, they could sure as hell pick out someone far worse.
I know this doesn't really answer your question, but not too many people really know who he is. Whenever I mention him in a conversation around the office (albeit not on Wall Street), everyone asks me who he is. The one big thing that caught the public's eye for a second was the whole tax-cheat scandal and Turbotax. That being said, I don't think there's going to be too much demand from the "American People" to see him gone.
I think that he may get a sack mostly because of his part in the bailout and his work with Paulson and Bush. With the new GOP leadership and both sides promising the American people a new generation of conservatism, I think this would be a good way to prove to them they are ready for a newer economy. I know the public isn't too infatuated with this, but I think congress could spin this well.
Another question: Could this guy actually just get up and go to GS literally right after holding this post?
I think this is exactly what they're going for, make him the fall guy, sack him, then the general public goes "ooooohhhh, they fired that treasury secretary guy, they mean business now". Points for the administration.
No it's a joke actually, he's been mistaken for being a banker (from GS specifically) on more than a few occasions even though he's been in public service his entire career.
Got a different link? It's blocked where I am.
Here's what I
happen w/ Timmy.^^^if that is the case they're youtube blockin...see if you can find "south park timmy vs. jimmy" in case you've never seen it is a classic and is definitely what i imagine anytime gytenerd is brought up
He's out, Bloomberg's in.
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