Soon enough, Paul Krugman will bid adieu to one of his favorite punching bags.
Not that he's all that upset. In fact, after reports emerged yesterday that Treasury Secretary Timothy Geithner would be stepping down at the end of January, the New York Times columnist wrote in his blog that he found the news "reassuring."
“I’ve had the sense that Geithner has consistently been a voice urging the president to cave in for fear of upsetting the markets, with no real concern for the dangers of giving in to blackmail," Krugman added.
Thus marks the end of an epic war of wits between a Nobel Prize-winning economist and one of Washington's most powerful men. Throughout the Obama administration, Geithner has been one of Krugman’s favorite targets on topics spanning from Geithner's original recovery plan to his stance on Wall Street reform.
It doesn't stop there. Krugman has had plenty of issues with Geithner over the years, calling the Secretary's stimulus plan “an awful mess” and lambasting the Treasury Secretary’s so-called “recovery” little over two years later. The feud between Geithner and Krugman was so ferocious it actually inspired a music video on YouTube.
Geithner hasn't been silent either, going so far as to directly address Krugman's critiques of his plan to shore up the economy during a 2009 appearance on ABC.