Geithner says he won't serve second term
Treasury Secretary Timothy Geithner.
/ Manuel Balce CenetaUpdated: 5:37 p.m. ET
Treasury Secretary Timothy Geithner will not plan a second term, CBS News confirmed on Wednesday.
Geithner, speaking in an interview with Bloomberg Television on Wednesday, said he thought President Obama will get elected to a second term, but that he would move on to "something else."
"He's not going to ask me to stay on, I'm pretty confident," Geithner told Bloomberg TV in an interview. "I'm confident he'll be president. But I'm also confident he's going to have the privilege of having another secretary of the Treasury."
Geithner did not specify his plans for the future, other than to say they would involve "something else for me."
The secretary reportedly considered leaving his post last summer, following Congress's deal to raise the debt limit, but was convinced to stay through 2012 amid continued economic turmoil.
A Treasury source calls the announcement "old news."
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He's the Secretary of the Treasury of the United States and he's totally hamstrung by a Congress that is dumping everything back in his lap.
He looks at the numbers and tells Congress: "We are screwed. We need to get our act together now, I'm not kidding". What does Congress do? Totally blow him off and play politics as usual with our nations finances as if it were some big game. Head in the sand, not listening to you.
He's there to do a job and Congress is screwing him up one side and down the other. Because Congress can't do it's job he has to resort to all sorts of financial juggling and trickery to keep the Govt. functioning while these buffoon's in Congress keep playing the same old tired games they have done for decades then go on vacation.
I can't imagine the level of frustration this man has. Off the chart. It's a miracle he hasn't jumped out a window by now.
Geithner helped make some tough decisions for extremely unusual circumstances even though he was from Goldman Sachs.