TIMOTHY GEITHNER

Timothy Franz Geithner is serving as the 75th Secretary of the US Treasury. Appointed by President Barack Obama in January 26th of 2009, Geithner’s appointment was one of the first moves that President Obama made after being sworn in as the new US Head of State.

CAREER

Before his tenure at the US Treasury, Geithner served as the Federal Reserve Bank of New York’s ninth President and Chief Executive Officer. He was also the vice chairman and member of the Federal Open Market Committee, which is responsible for formulating the monetary policy implemented by the US government. From 2001 to 2003, Geithner also served as the director of the International Monetary Fund’s Policy Development and Review Department.

Timothy Geithner’s appointment comes in the midst of the worst economic slump the world has witnessed since the Great Depression. Not really having the opportunity to relish in his appointment, Geithner went straight to work to craft and plan strategies to respond to the economic recession which began right before the year 2007 ended. His specific tasks included allocating Wall Street bailout funds, which totaled $350 billion.

Other issues that Geithner had worked on during the first year of his tenure as the Treasury Secretary included bailing out and keeping afloat the struggling US automobile industry, banks, and other financial institutions’ restructuring and overhauling specifically that of Fannie Mae and Freddie Mac’s. He also focused on injecting life to the mortgage markets, giving protection to other struggling businesses in the United States and eventually branching out to other nations to help them in their own economic slumps.

Timothy Geithner graduated from Dartmouth College earning a bachelor’s degree in Government and Asian Studies in 1983. He then went on to pursue his master’s degree at the Johns Hopkins School of Advanced International Studies studying International Economics and East Asian Studies in 1985. He has been well travelled and had lived in countries such as East Africa, India, Thailand, China, and Japan.

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