Still Mr. Lonely: Another Treasury pick jumps ship

By Michelle Malkin  •  March 25, 2009 10:30 AM

Not again? Yes, again: Another person under consideration for a top Treasury job has decided to bail on Tim Geithner.

Frank Brosens, a hedge fund manager who was Treasury Secretary Timothy Geithner’s choice to run the office overseeing the $700 billion bank bailout program, withdrew his name from consideration.

Brosens, a founding partner of Taconic Capital Advisors LLC in New York, confirmed in an e-mail he is no longer in the running for the job, which requires Senate confirmation. The position is currently held by Neel Kashkari, a holdover from the Bush administration.

Geithner has had a difficult time filling vacancies and remains President Barack Obama’s only confirmed appointment at the department as the administration grapples with the biggest financial crisis since the Great Depression. At a congressional hearing yesterday, the Treasury chief said that hiring isn’t easy.

“We’re finding a lot of people willing to come serve their country at this moment of challenge, and I think that’s very encouraging,” Geithner told the House Financial Services Committee. “We’re going to need some more people, though, and we’re working very hard to bring in enough talent to help us get through this.”

After promising not to continue the failed Bush policies of the past, the Obama administration is keeping on two top Bush Treasury officials:

Also at the hearing, Geithner called Kashkari, who runs the Troubled Asset Relief Program, “an excellent public servant.”

The unit run by Kashkari, the Office of Financial Stability, was created by Congress last year in the legislation that established the financial bailout fund.

Deputy Picked

The White House earlier this week moved to fill several posts at the department, saying it would nominate Neal Wolin to be Geithner’s deputy secretary, and Lael Brainard to be the undersecretary for international affairs.

Obama also said Stuart Levey will stay on as the Treasury’s undersecretary for terrorism and financial intelligence.

He has nobody to call his oooo-own…

Posted in: Tim Geithner

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Comments


  1. #658683
    On March 25th, 2009 at 10:36 am, happyscrapper said:

    Would you go to work on the Titanic? The word is out. No one is dumb enough to get involved in this mess.

  2. #658688
    On March 25th, 2009 at 10:39 am, Salt said:

    On March 25th, 2009 at 10:36 am, happyscrapper said:

    Would you go to work on the Titanic? The word is out. No one is dumb enough to get involved in this mess.

    He was.

    …and he was dumb enough to make it worse to boot.

  3. #658694
    On March 25th, 2009 at 10:41 am, sonofdy said:

    Happyscrapper is right. Right now we are at the point where the holes have been torn in the hull of the Titanic, and the Captian knows the ship is doomed but the people are still playing soccer with the chucks of ice on the deckthinking “this ship could never sink”.

  4. #658703
    On March 25th, 2009 at 10:44 am, ajmontana said:

    Odopey’s administration is on gigantic Clusterf@#$. :shock:

  5. #658705
    On March 25th, 2009 at 10:44 am, taylork said:

    The position calls for a capitalist, but the administration is hostile to capitalism. No one want s to be the whipping boy.

    The Jewish anti-defamation league would have an easier time filling a token wahabiist position.

  6. #658718
    On March 25th, 2009 at 10:47 am, ClassicFilm said:

    Tim “Tax Cheat, Lying Pinocchio” Geithner’s integrity and career is in a shambles as far as the American public is concerned. If Obama didn’t keep him on (with the “utmost confidence”) as head of Treasury, he’d have a hard time getting a job with Radio Shack. Yep, all the savvy Dem rats have sense to jump the sinking ship…

  7. #658726
    On March 25th, 2009 at 10:50 am, Wade said:

    If BO and the thugs continue to ignore the true fault of the financial mess and target Bush’s policies, they are doomed to continued failure. Just ask Frank, Dodd and Shumer.

  8. #658728
    On March 25th, 2009 at 10:51 am, DagneyT said:

    Frank Brosens, a hedge fund manager who was Treasury Secretary Timothy Geithner’s choice to run the office overseeing the $700 billion bank bailout program, withdrew his name from consideration.

    Talk about a “no win” job; I don’t blame him!

  9. #658734
    On March 25th, 2009 at 10:53 am, DagneyT said:

    The unit run by Kashkari, the Office of Financial Stability, was created by Congress last year in the legislation that established the financial bailout fund.

    No there’s a congressionally-created mandate that’s worked out well, hasn’t it?

  10. #658738
    On March 25th, 2009 at 10:55 am, happyscrapper said:

    On March 25th, 2009 at 10:47 am, ClassicFilm said:

    And yet, and YET, Geithner is being given more power! His new title will be “Lord and Master of the People’s Treasury”. Anyone who is foolish enough to go to work for him will be eventually thrown under the bus as a living sacrifice to the Lord and Master.

  11. #658740
    On March 25th, 2009 at 10:56 am, DagneyT said:

    Here’s a song that better suits Tax-cheat Tim!

  12. #658747
    On March 25th, 2009 at 11:00 am, thetoysurgeon said:

    And they are considering giving this man ultimate power…this is very very scary…

  13. #658774
    On March 25th, 2009 at 11:14 am, bear1909 said:

    This is an end run to turn the Treasury Secretary cabinet position into a Czar position to deal with the crisis.

    This country is loaded with professional financial executives with enough experience to push paper under the hapless Timmy.

    Give me a break. It isn’t rocket science we are dealing with– pick up your shovel, get into the stall and start shoveling you Morons.

    And while we are at it, cant we just fire Barney Frank and the stinking “Chris” Dodd, tie them to the bumper of the manure wagon and parade them through the streets of DC?

    Good Lord. How much does this Congress and Administration loathe this country? I say “this” country because they are all behaving like lil bHo who has never uttered the words “My Country” because it would be the boldest lie he has told yet.

    Turn em out. Impeach lil bHo. Do it now.

    Bear1909out

  14. #658785
    On March 25th, 2009 at 11:20 am, thetoysurgeon said:

    All these jumpers don’t want to be carried out of DC on a rail when the crap hits the fan.

  15. #658789
    On March 25th, 2009 at 11:23 am, Meloff said:

    At a congressional hearing yesterday, the Treasury chief said that hiring isn’t easy.

    “. . . we’re working very hard to bring in enough talent to help us get through this.”

    Read:
    “We’re working very hard to find enough adulating Obama-ites who actually paid their taxes. . .

  16. #658810
    On March 25th, 2009 at 11:34 am, happyscrapper said:

    This fiasco is a perfect example of the lack of confidence in this administration. Most people who know anything at all about the economy and how to make capitalism work totally disagree with how the Obama adminsitration is trying to fix it. They don’t want to throw in with these losers. It will be interesting to watch this unfold and see who ends up taking positions in the Treasury and how soon they are used as sacrifices when they contradict their “superiors”.

  17. #658820
    On March 25th, 2009 at 11:41 am, BuckeyeSam said:

    If I’m reading these releases correctly, Obama seems able to slide only people already in his administration over into open Treasury slots because no one in his or her right mind would join this fiasco. Taking a pay cut to be a hero in a turnaround story is one thing, taking a pay cut to join a sinking ship is an entirely different matter.

    My guess is that Geithner is inundated with resumes from Obama Kool-Aid drinkers, all of whom have masters degrees in fine arts (no offense), five maxed out credit cards, and $100K in student loans. And they have as much business and financial acumen as Obama.

    Good luck.

  18. #658833
    On March 25th, 2009 at 11:46 am, DaveC said:

    Everyone was saying that Geithner was the Man for the job at the Treasury.

  19. #658834
    On March 25th, 2009 at 11:46 am, jjmurphy said:

    You guys have it right. No sane person who has a career in finance, who knows how markets works, and sees the actions of this administration, would want to be associated with it in any way.

    Sane people can sense failure and naturally try to avoid it.

  20. #658840
    On March 25th, 2009 at 11:49 am, RufusTFirefly said:

    thanks, chap.

  21. #658846
    On March 25th, 2009 at 11:52 am, BayStateRepublican said:

    On March 25th, 2009 at 11:41 am, BuckeyeSam said:
    My guess is that Geithner is inundated with resumes from Obama Kool-Aid drinkers, all of whom have masters degrees in fine arts (no offense), five maxed out credit cards, and $100K in student loans. And they have as much business and financial acumen as Obama.

    And like Obama, never worked a day in their lives outside of academia. Nice prose, Sam.

  22. #658857
    On March 25th, 2009 at 11:55 am, Rogue Cheddar said:

    “Sebuku” is looking better and better all the time, isn’t it Turbo Tax Timmy?

  23. #658870
    On March 25th, 2009 at 12:00 pm, Ralph Gizzip said:

    Maybe the way to stop all this crap is to shut down Washington. That seems to be what’s currently happening.

  24. #658877
    On March 25th, 2009 at 12:03 pm, WarTip said:

    And now the government is looking at ways of “legally” nationalizing any financial institution that could “cause harm” to the economy with their failures.

    I wonder how this will fly with our bloated bureaucrats? My guess is that they will continue to blindly go along lock, stock and barrel. Personally, I am putting my stock into barrels too but on a more “clinging” and “bitter” level.

  25. #658891
    On March 25th, 2009 at 12:13 pm, tpro1 said:

    What happened to the people who were there when Bush was in office? Were they all fired, dismissed, or did they flee? I’m sure they would have probably stayed, if asked.

  26. #658892
    On March 25th, 2009 at 12:13 pm, tpro1 said:

    I mean people at Treasury.

  27. #658916
    On March 25th, 2009 at 12:23 pm, Hannibal said:

    The NYT reports that Bernie Madoff has offered to do 10,000 hours of community service as an under secretary in the Treasury Department of Tim Geithner in lieu of spending time in another federal department.

    In related news, a press release by Michael Milkin states that he wishes to have his name removed from Geithner’s short list. Milkin said, ” I cannot have my reputation sullied by associating with possible questionable and gimmicky financial propositions.”

  28. #658918
    On March 25th, 2009 at 12:23 pm, prendad said:

    Hey Tim Geithner, if you were as smart as they say, you would tell Obama to take this job and shove it, then go make some real dough. But, alas, the mystical aura of Obammerism has stolen your soul.

  29. #658922
    On March 25th, 2009 at 12:24 pm, npphotog said:

    Mr. Lonely said yesterday he needs more power to take over private industry that takes advantage of his stupidity and mistakes. sigh . . .

  30. #659030
    On March 25th, 2009 at 1:19 pm, Flyoverman said:

    Again? Geithner is becoming the personification of a “toxic asset.”

  31. #659051
    On March 25th, 2009 at 1:28 pm, Khyris said:

    I’d be curious as to how many of these potential appointees are “going Galt.” The circumstances are shockingly identical… powerful and influential people being asked to accept more money and power… arbitrarily declining, and refusing to give reasons why.

  32. #659072
    On March 25th, 2009 at 1:42 pm, AlohaGuy said:

    My guess is that Geithner is inundated with resumes from Obama Kool-Aid drinkers, all of whom have masters degrees in fine arts (no offense),

    Geithner himself has a degree in Asian Studies.

  33. #659266
    On March 25th, 2009 at 3:21 pm, cheapseat said:

    #17, #21, #32, you all forgot to mention that these wizards of academia want 750k per year plus a g5 at their beck and call to handle the needed travel. sure, throw in a chauffered limo, i’m worth it. i read the entire canterbury tales drivel.

  34. #659291
    On March 25th, 2009 at 3:32 pm, mytake said:

    Very funny posts. I read them all. Geithner utters and the market gutters…..again! Nice rally brought to it’s knees once again when reality bites back

  35. #659550
    On March 25th, 2009 at 8:13 pm, Dimsdale said:

    I think it speaks to the confidence that experienced financial types have in the Obambi/Geithner plan if they bail out so quickly. Clearly, they don’t want to catch the blame for the fiscal mismanagement and ineptitude of this administration.

    It would be funny if it weren’t going to screw all of us in the process.

  36. #659834
    On March 26th, 2009 at 9:48 am, GraniteMan said:

    Maybe it’s Geithner’s deodorant.

  37. #659835
    On March 26th, 2009 at 9:48 am, GraniteMan said:

    Maybe it’s Geithner’s deodorant.

  38. #659836
    On March 26th, 2009 at 9:48 am, GraniteMan said:

    Maybe it’s Geithner’s deodorant.

  39. #659840
    On March 26th, 2009 at 9:49 am, GraniteMan said:

    Sorry for the three comments–Don’t know what happened.

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