Why 'Tim' Geithner did not say more . . .

Appearing behind a podium that proclaimed, “Financial Stability and Recovery,” Treasury Secretary Timothy Geithner on Tuesday carefully read from a teleprompter and provided what his flack said was a “comprehensive” plan. It was not comprehensive in any way. It was so shallow that the market dropped and commentators and senators had to note the lack of detail.

But those who expected the details of the plan were operating under the false assumption that the Treasury Secretary, and by extension, the U.S. Government, is in practical control and charge of the U.S. economy. After monitoring the frequent pilgrimages to Beijing by Geithner's predecessor, Henry Paulson, one wonders if members of the financial press corps are even asking the right questions.

Geithner’s performance followed President Obama having advertised Geithner’s appearance in advance by saying, “He’s going to be terrific. I’m going to make sure that Tim gets his moment in the sun.” The sun? One analyst said Geithner looked like a deer caught in the headlights.
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