“How quickly Timothy Geithner has fallen out of favor,” said David Paul Kuhn in RealClearPolitics. “The youthful Treasury secretary was once seen as the embodiment of the new best and brightest.” President Obama is standing by Geither, but the secretary's unclear strategy for boosting the economy has made investors nervous, and people are wondering whether it’s time for him to step down.
“As just about everyone in Washington knows,” said Pejman Yousefzadeh in the New Ledger, “once the President has to express confidence in the abilities of a Cabinet officer, that Cabinet officer is under a deathwatch.” Geithner’s early knowledge of the AIG bonuses made him an embarrassment. “Geithner will probably hold on -- for the moment” -- but he’s flailing.
Obama won’t fire Geithner -- that would be a sign of weakness, said Doyle McManus in the Los Angeles Times. Besides, the embattled Treasury secretary is still a “brilliant policy wonk and financial strategist.” Geithner this week will unveil details of his bank rescue plan and appear before congressional hearings on AIG. “That gives Tim Geithner two chances to redeem himself - to show that he's a genuine asset, not a toxic one.”