Senate Confirms Geithner as Treasury Secretary
(Washington-1/29/2009 9:07 A.M.)
http://www.asahi.com/international/update/0127/TKY200901270030.html
On the 26th, the U.S. Senate approved Obama's designated Treasury Secretary; Timothy Geithner. He has formally chairman of the New York Federal Reserve Bank.
It was discovered today that Geithner failed to pay taxes during the years of 2001-03 while at the IMF. The taxes amount to $30,400. Republican opposition hinged on that issue. The confirmation was delayed to due this, but with his great knowledge of the credit markets and apparent skill, the verdict came out as 60 for, 34 against.
Together with National Economic Council Chairman Summers, Geithner carries a heavy responsibility to create a countermeasure against the economic crisis. With the gravitas of an impending calamity, Geithner said; "A crisis of this magnitude has to be dealt with the strongest force possible. If we don't deal with it as such, the final cost will be much greater than it is now." For him the largest problem will be the country's overwhelming debt.
Asahi Shinbun
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