Tim Out – Sheila and Debt Relief In?
In my piece “What’s in Store for 2010” my number one prediction was: -Tim Geithner will resign as Treasury Secretary. Sheila Bair will replace him. The odds of getting any of these types of predictions correct are probably 20 to 1. Given what has happened in the past few days I would now say that the ‘swap’ of Sheila for Tim is an even money bet. Mr. Geithner has outlived his usefulness. He is too connected to the bailouts of 08. Bear, Lehman, AIG, TARP and even QE are all part of his legacy. That makes Tim a lightening rod. Too many Americans hate that part of our history.