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Wan LixinOpinion deputy editor of Shanghai Daily
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Geithner defends record during financial crisis
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TIMOTHY Geithner says in a new memoir that he considered stepping down as US Treasury secretary in 2010 after the financial crisis and suggested Hillary Rodham Clinton as a possible successor.
US President Barack Obama rebuffed Geithner’s suggestion, and he remained at Treasury until 2013.
Geithner’s memoir will be published next week.
Geithner writes of the incident in “Stress Test,” which explores his turbulent four years at Treasury. During his tenure, the Obama administration faced the worst recession and most severe financial crisis since the Great Depression.
Geithner pushes back against his critics, writing it would have been impossible to fix the economy without first shoring up the banking system and restoring confidence.
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