Timothy Geithner

Tim GeithnerTimothy F. GeithnerGeithnerSecretary Geithner
Timothy Franz Geithner (born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama, from 2009 to 2013.wikipedia
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United States Secretary of the Treasury

Secretary of the TreasuryTreasury SecretaryU.S. Secretary of the Treasury
Timothy Franz Geithner (born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama, from 2009 to 2013.
Under Secretary for Terrorism and Financial Intelligence Stuart A. Levey served as acting secretary of the treasury from January 20, 2009, until the confirmation of Timothy Geithner, which occurred January 26, 2009.

Troubled Asset Relief Program

Troubled Assets Relief ProgramTARPTARP funds
At the New York Fed, Geithner helped manage crises involving Bear Stearns, Lehman Brothers, and the American International Group; as Treasury Secretary, he oversaw allocation of $350 billion under the Troubled Asset Relief Program, enacted during the previous administration in response to the subprime mortgage crisis. The Troubled Asset Relief Program (TARP) and [[Government policies and the subprime mortgage crisis#Federal takeover of Fannie Mae and Freddie Mac|takeover]] of Fannie Mae and Freddie Mac amounted a combined outflow of $620.3 billion in Treasury funds in the form of spending, investments, and loans.
On February 10, the newly confirmed Secretary of the Treasury Timothy Geithner outlined his plan to use the remaining $300 billion or so in TARP funds.

Subprime mortgage crisis

2007 subprime mortgage financial crisissubprime crisissub-prime mortgage crisis
At the New York Fed, Geithner helped manage crises involving Bear Stearns, Lehman Brothers, and the American International Group; as Treasury Secretary, he oversaw allocation of $350 billion under the Troubled Asset Relief Program, enacted during the previous administration in response to the subprime mortgage crisis.
In a June 2008 speech, President of the NY Federal Reserve Bank Timothy Geithner, who later became Secretary of the Treasury, placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system.

American International Group

AIGSunAmericaAmerican General
At the New York Fed, Geithner helped manage crises involving Bear Stearns, Lehman Brothers, and the American International Group; as Treasury Secretary, he oversaw allocation of $350 billion under the Troubled Asset Relief Program, enacted during the previous administration in response to the subprime mortgage crisis.
The New York United States Federal Reserve Bank (led by Timothy Geithner who would later become Treasury secretary) stepped in, announcing creation of a secured credit facility, initially of up to US$85 billion to prevent the company's collapse, enabling AIG to deliver additional collateral to its credit default swap trading partners.

Financial crisis of 2007–08

financial crisis of 2007–2008global financial crisis2008 financial crisis
As President of the New York Fed and Secretary of the Treasury, Geithner had a key role in government efforts to recover from the financial crisis of 2007–08 and the Great Recession.
In a June 2008 speech, President and CEO of the New York Federal Reserve Bank Timothy Geithner—who in 2009 became Secretary of the United States Treasury—placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system.

Barack Obama

ObamaPresident ObamaPresident Barack Obama
Timothy Franz Geithner (born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama, from 2009 to 2013.
In March, Obama's Treasury Secretary, Timothy Geithner, took further steps to manage the financial crisis, including introducing the Public–Private Investment Program for Legacy Assets, which contains provisions for buying up to two trillion dollars in depreciated real estate assets.

Zeulenroda-Triebes

Zeulenroda
Geithner's paternal grandfather, Paul Herman Geithner (1902–1972), immigrated with his parents to the United States in 1908 from Zeulenroda, Germany.
His grandson, Timothy Geithner, was the 75th United States Secretary of the Treasury, serving under President Barack Obama.

List of presidents of the Federal Reserve Bank of New York

President of the Federal Reserve Bank of New YorkPresident
He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration.
President Obama also appointed former New York Fed President Timothy Geithner to be the United States Secretary of the Treasury and he was confirmed by the Senate on January 26, 2009.

Paul H. Nitze School of Advanced International Studies

School of Advanced International StudiesJohns Hopkins School of Advanced International StudiesJohns Hopkins University
Like his father, paternal grandfather and uncle; Geithner attended Dartmouth College, graduating in 1983, with a A.B. in government and Asian studies, then earned a M.A. in international economics and East Asian studies from Johns Hopkins University's School of Advanced International Studies, in 1985.

Lehman Brothers

LehmanLehman Brothers Kuhn LoebLehman Brothers Holdings Inc.
At the New York Fed, Geithner helped manage crises involving Bear Stearns, Lehman Brothers, and the American International Group; as Treasury Secretary, he oversaw allocation of $350 billion under the Troubled Asset Relief Program, enacted during the previous administration in response to the subprime mortgage crisis.
On Saturday, September 13, 2008, Timothy F. Geithner, then the president of the Federal Reserve Bank of New York, called a meeting on the future of Lehman, which included the possibility of an emergency liquidation of its assets.

International School Bangkok

International School of BangkokInternational SchoolISB
Geithner spent most of his childhood living abroad, including in Zimbabwe; Zambia; India; and Thailand, where he completed high school at the International School Bangkok.

Kissinger Associates

Kissinger McLarty AssociatesKissinger Associates, Inc.Kissinger and Associates
Geithner worked for Kissinger Associates in Washington, D.C., from 1985 to 1988, when he joined the International Affairs division of the U.S. Treasury Department.

Dartmouth College

DartmouthDarmouth Dartmouth
Like his father, paternal grandfather and uncle; Geithner attended Dartmouth College, graduating in 1983, with a A.B. in government and Asian studies, then earned a M.A. in international economics and East Asian studies from Johns Hopkins University's School of Advanced International Studies, in 1985.
Cabinet members of American presidents include Attorney General Amos T. Akerman, Secretary of Defense James V. Forrestal, Secretary of Labor Robert Reich, Secretary of the Treasury Henry Paulson, and Secretary of the Treasury Timothy Geithner.

Council on Foreign Relations

The Council on Foreign RelationsCFRCouncil on Foreign Relations (CFR)
In 2001, Geithner left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department.

Warburg Pincus

E.M. Warburg & Co.E.M. Warburg, Pincus & Co.Warburg Pincus LLC
Since March 2014, he has served as president and managing director of Warburg Pincus, a private equity firm headquartered in New York City.

Ann Dunham

Stanley Ann DunhamAnnAnn Dunham Soetoro
During the early 1980s, Geithner's father oversaw the Ford Foundation's microfinance programs in Indonesia being developed by Ann Dunham Soetoro, Barack Obama's mother, and they met at least once in Jakarta.
Peter Geithner, father of Tim Geithner (who later became U.S. Secretary of the Treasury in her son's administration), was head of the foundation's Asia grant-making at that time.

Bankruptcy of Lehman Brothers

Lehman Brothers bankruptcyLehman Brothersbankruptcy
On September 15, Lehman announced that it would file for bankruptcy, making it the largest investment bank failure since Drexel Burnham Lambert in 1990.
On September 12, 2008, Timothy F. Geithner, then president of the Federal Reserve Bank of New York, called a meeting on the future of Lehman, which included the possibility of an emergency liquidation of its assets.

Emergency Economic Stabilization Act of 2008

Emergency Economic Stabilization ActWall Street bailoutPaulson financial rescue plan
Geithner had authority over the second tranche of $350 billion from the $700 billion banking bailout bill passed by Congress in October 2008.
On February 10, 2009, the newly confirmed Secretary of the Treasury Timothy Geithner outlined his plan to use the $300 billion or so dollars remaining in the TARP funds.

Beijing Normal University

Beijing NormalThe High School Affiliated To Beijing Normal UniversityBeijing Normal University Elementary School
He studied Mandarin at Peking University in 1981, and at Beijing Normal University in 1982.

Under Secretary of the Treasury for International Affairs

Under Secretary for International AffairsUnder Secretary of the Treasury (International Affairs)Under Secretary, US Treasury
He was Under Secretary of the Treasury for International Affairs (1998–2001) under Secretaries Robert Rubin and Lawrence Summers, who are widely considered to have been his mentors.
Notable former Under Secretaries include Paul Volcker, David H. McCormick, Timothy D. Adams, John B. Taylor, Timothy F. Geithner, David Mulford, and Lawrence H. Summers.

Government policies and the subprime mortgage crisis

GovernmentImprovedtakeover
The Troubled Asset Relief Program (TARP) and [[Government policies and the subprime mortgage crisis#Federal takeover of Fannie Mae and Freddie Mac|takeover]] of Fannie Mae and Freddie Mac amounted a combined outflow of $620.3 billion in Treasury funds in the form of spending, investments, and loans.
In a June 2008 speech, U.S. Treasury Secretary Timothy Geithner, then President and CEO of the NY Federal Reserve Bank, placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system.

Jamie Dimon

James DimonDimonJames "Jamie" Dimon
Bear Stearns and JPMorgan chief executives Alan Schwartz and Jamie Dimon testified that Geithner and Federal Reserve Chairman Ben Bernanke were aware of the amount being discussed and encouraged negotiators to keep the price low to avoid rewarding investors.
Obama eventually named the president of the Federal Reserve Bank of New York, Timothy Geithner, to the position.

Goldman Sachs

Goldman Sachs InternationalGoldman, Sachs & Co.Goldman Sachs Group
A team from Goldman Sachs and Credit Suisse had estimated prior to Lehman's bankruptcy filing that Lehman's liabilities exceeded its assets by tens of billions of dollars (i.e., a negative net worth).
Additional controversy attended the selection of former Goldman Sachs lobbyist Mark A. Patterson as chief of staff to Treasury Secretary Timothy Geithner, despite President Barack Obama's campaign promise that he would limit the influence of lobbyists in his administration.

U.S.–China Strategic and Economic Dialogue

U.S.-China Strategic and Economic DialogueStrategic and Economic Dialogue2nd round U.S.–China Strategic and Economic Dialogue
Geithner co-chaired the high-profile U.S.–China Strategic and Economic Dialogue from July 27 to 28 in 2009 in Washington, D.C. and led the Economic Track for the U.S. side.
In an opinion piece published in The Wall Street Journal, Clinton and Timothy Geithner wrote about the U.S.–China relationship and the new S&ED.

TurboTax

Turbo Tax
Geithner testified that he used the software TurboTax to prepare his 2001 and 2002 returns, but that the tax errors were his own responsibility.
On January 21, 2009, TurboTax received considerable public attention at the Senate confirmation hearing of Timothy F. Geithner to be the United States Secretary of Treasury.