January 26, 2012
Treasury Secretary Timothy Geithner has announced that if President Obama is re-elected, Geithner will not stay on as Treasury Secretary in a second term. Geithner, who never met a plutocrat for whom he felt anything but sympathy, has been a complete and total drag on the kind of economic populism that formed the historical core of FDR's Democratic Coalition. The first thing a Democratic Treasury Secretary should ask is not how a decision will affect the markets, important as markets are. The first question should be, how does this affect the average American? I am not sure Geithner has given any evidence of having ever met an average American, let alone grasping their sense of anger and astonishment at the ways of Wall Street.
