Senate Confirms Tim Geithner As Treasury Secretary
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/524324624/Posted on Tuesday, January 27th, 2009 | In Stocks to Watch
Tuesday January 27, 2009
Navivest
President Barack Obama’s pick for the U.S. Treasury Secretary post, Tim Geithner, was approved by the senate Monday evening. The vote was 60-34. He was sworn into office soon after, by Vice President Joseph Biden.
His nomination hit a bump last week, after it was revealed that while he worked at the International Monetary Fund, he did not pay Medicare and social security taxes on his income, a situation he later rectified with the IRS.
When his nomination was first announced, stocks soared on the news and it remains to be seen today, whether his confirmation will have the same effect. The stock market does have a tendency to rise on rumors and sell off on the actual news, plus we have a slew of earnings and economic news due today that could temper any stock market enthusiasm.
He has already hit the ground running, working on plans this morning to issue rules that will limit lobbying by special interests, for TARP money.
Tags: Treasury Secretary Tim Geithner
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