Wow. The rats keep jumping off the sinking S.S. Treasury Department.
Timothy Geithner stands alone…again:
The person Treasury Secretary Timothy Geithner wanted as his chief deputy withdrew from consideration Thursday, dealing a setback to the agency as it struggles to address the worst financial crisis in decades.
Annette Nazareth, a former senior staffer and commissioner with the Securities and Exchange Commission, made “a personal decision” to withdraw from the process, according to a person familiar with her decision.
The decision followed more than a month of intense scrutiny of her taxes and multiple interviews. No tax problems or other issues arose during Nazareth’s vetting, said the person, who requested anonymity because Geithner’s choice of Nazareth was never announced officially.
“She did put a great deal of consideration into the potential of taking the position, and she concluded that she really enjoys what she’s doing now,” this person said.
Though popular in policy circles, Nazareth has drawn criticism for her role in creating what some considered to be lax oversight of the banking industry.
Nazareth, 53, a partner at the law firm Davis Polk & Wardwell, could not be reached for comment. Treasury and White House officials said they would not comment.
Geithner has been criticized for staffing his department too slowly as it grapples with a banking crisis that has crippled the economy. Uncertainty about Treasury staff also has unnerved financial markets.
And there was another:
Geithner’s choice for undersecretary of international affairs, Caroline Atkinson, also withdrew from consideration, the Wall Street Journal reported Thursday.
Cue Queen’s “Another One Bites the Dust.”
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Categories: Tim Geithner