Treasury Secretary Tim Geithner, who's last appearance before congress to try and explain his prescription for the ailing economy was generally panned by journalists and economists alike, sent the markets into a freefall, and caused a slight embarrassment to the Obama administration, will get another chance to try and soothe rising fears about Obama's future and current fiscal plans today.
His busy schedule includes first meeting with the Senate Budget Committee to outline (defend) the principle programs in the administration's FY2010 budget. Then he’s on to the quarterly meeting of the Business Roundtable, where he will walk through the details of the administration’s comprehensive plan to stabilize the financial system and get lending flowing again – by ensuring banks have the confidence to lend, jumpstarting securitization markets, stemming the foreclosure crisis and providing financing to help the private sector purchase the distressed assets weighing down balance sheets.
Who'd like to have a beer with the guy after a day like that?
Geithner seems to be given a second chance in a city that is merciless with second chances, he appeared with the president yesterday in the oval office, and his boss expressed nothing but confidence in him. Also yesterday, he appeared on Charlie Rose where many reporters are saying he "shined," showing confidence and intelligence and exuding the overall air of a man who was on top of it.
We'll see what the reviews say tomorrow. The market seems to be having fragile gains this week, but it seems a single word from Geithner sends them into a tailspin.
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