History will vindicate the former US treasury secretaryby Stephanie Flanders / June 19, 2014 / Leave a comment
Published in July 2014 issue of Prospect Magazine
Tim Geithner: One of his allies in Congress, Barney Frank, once told him that when he spoke in public, “he looked like he was at his own bar mitzvah.”
Public officials write memoirs for two reasons: to make money or to set the record straight. If there’s one thing that former US Treasury Secretary Tim Geithner would like readers of his new book, Stress Test, to know, it’s that his decision to plough hundreds of billions of taxpayer dollars into banks during the financial crisis was never about the money—and it was never just about the banks. His “only priorities,” he insists, were limiting the damage to ordinary Americans and to the broader global economy.