01/28/2013 02:35 am ET

Tim Geithner: A Good Hire -- Who Stayed About Three And A Half Years Too Long

What are we to make of Tim Geithner on his last day as Treasury Secretary? For my money, the story that best gets at his essential Geithner-ness took place in the second half of 2009, when the recently-bailed out banks were back to making staggering profits even though unemployment was 10 percent. The public was furious over this disparity, which naturally caught the attention of Rahm Emanuel, the White House chief of staff. And so Emanuel gathered the president’s top political and economic advisers to figure out what to do about it.

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