After two months, it seems safe to say that the Obama presidency is off to a rocky start. And while lots of his nominees–or prospective nominees—turned to be duds, Obama’s biggest headache is Treasury Secretary Tim Geithner.
While Geithner survived Senate confirmation despite tax problems, the current AIG bonus controversy will do serious damage to the Treasury Secretary and his boss. Now, as he unveils the latest incarnation of a bank rescue plan, it’s going to be a rough few days playing defence.
The treasury secretary does seem to have one big supporter in Obama, who insisted he would not even think of accepting his Treasury Secretary’s resignation during his interview on 60 Minutes. But there is a precedent if Obama decides to ditch Geithner. Abraham Lincoln had no problems dismissing his Secretary of War early on in his presidency and went through generals every few months before finding the team of Grant, Sherman, Thomas and Sheridan. The next few weeks will show how much Obama is like Illinois’ other favorite son in the White House.