Obama Picks New York Fed Chief to
Lead Treasury Stumble It! |
Geithner was born in Brooklyn, New York City, to Mr. and Mrs.
Peter F. Geithner of Larchmont, New York. He completed high
school at International School Bangkok, Thailand,[2] and then
attended Dartmouth College, graduating with a B.A. in government
and Asian studies in 1983. After, he obtained an M.A. in
International Economics and East Asian Studies from Johns
Hopkins University's School of Advanced International Studies in
1985.[3] He has studied Japanese and Chinese and has lived in
present-day Zimbabwe, India, Thailand, and China.[4] He married Dartmouth classmate Carole M. Sonnenfeld; they have two children, Elise and Benjamin.[5] In spare time he fly-fishes, plays tennis and surfs.[6] After completing his studies, Geithner worked for Kissinger and Associates in Washington, D.C., for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988. He was deputy assistant secretary for international monetary and financial policy (1995-1996), senior deputy assistant secretary for international affairs (1996-1997), assistant secretary for international affairs (1997-1998).[3] He was Under Secretary of the Treasury for International Affairs (1998-2001) under Treasury Secretaries Robert Rubin and Lawrence Summers.[3] In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department.[citation needed] At the International Monetary Fund he was director of the Policy Development and Review Department (2001-2003).[3] In October 2003, he was named president of the Federal Reserve Bank of New York.[7] Once there, he became Vice Chairman of the Federal Open Market Committee component of the Fed. In 2006, he also became a member of the influential Washington-based financial advisory body, the Group of Thirty.[citation needed] In March 2008, he arranged the rescue and sale of Bear Stearns.[8] On November 21, 2008, it was reported President-elect Barack Obama will nominate Geithner to be Treasury Secretary.[9 |