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Timothy Geithner’s New Job Isn’t on Wall Street

He's returning to the Council on Foreign Relations

By Christopher Freeburn, InvestorPlace Writer


Former Treasury Secretary Timothy Geithner has joined the Council on Foreign Relations (CFR) as a senior fellow.

Geithner served as a senior fellow at the CFR more than a decade ago prior to joining the International Monetary Fund (IMF). He was later president of the Federal Reserve Bank of New York before being tapped to head Treasury by President Obama in 2009, the Los Angeles Times notes.

Treasury Department: No Plans to Mint Trillion-Dollar Coin
Treasury Department: No Plans to Mint Trillion-Dollar Coin

During his time at Treasury, Geithner oversaw hundreds of billions of dollars in federal bailouts to Wall Street banks.

While some in the media had speculated that Geithner would take a high-profile job in the financial industry, he dismissed such talk. He has also denied suggestions that he could succeed Ben Bernanke as Federal Reserve chairman next year.

Geithner had indicated early last year that he would leave Treasury at the end of Obama’s first term. Jacob J. Lew, the White House Chief of Staff, has been named to replace Geithner as Treasury Secretary.

The opinions contained in this column are solely those of the writer.

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