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Senate confirms Geithner as Treasury chief
The US Senate has confirmed Timothy Geithner as Treasury Secretary in Obama's administration despite misgivings over his past income tax issues. The Senate approved his nomination on a 60-34 vote on Monday. Geithner was expected to be sworn in quickly to help lead President Barack Obama's efforts to stabilize a worsening economy. The new Treasury chief is expected to soon unveil reforms to the United States' $700 billion financial bailout program to provide more support for housing and credit markets, and possibly a new effort to absorb troubled assets from banks. "I would rather have a battle hardened veteran at the helm who knows the shoals and whirlpools than a neophyte who has to wade into these churning waters for the first time," Republican Sen. Orrin Hatch of Utah said during debate on the nomination against Geithner. Some lawmakers were also disturbed enough by the tax lapse to vote against Geithner even though they thought him well suited for the job otherwise. Posted by: Fred 2009-01-27 |
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