Post-Geithner: It's hard to see who replaces Timothy Geithner as US Treasury Secretary if he departs once a debt ceiling deal is done. The former New York Fed boss was an obvious pick by President Barack Obama in 2008. But new skills are needed now. It's less about crisis, more about fostering growth amid a poisonous political atmosphere. Finding a taker for the job, which may also be short-lived, could be surprisingly tricky.
Geithner himself might fail to be confirmed by Republicans in Congress if he were nominated today. His tax flubs certainly would be a bigger hurdle now that fear of financial collapse has ebbed. Both parties would bash him for helping save Wall Street. Prevailing anti-finance sentiment probably precludes Obama from picking a prominent banker like JPMorgan's Jamie Dimon, or Goldman Sachs alum William Dudley, Geithner's successor at the Fed.
In any event, the big issue today is an economy that's growing too slowly to replace lost jobs. This makes more palatable a pick like General Electric CEO Jeff Immelt. If inking further deals with Republicans on cutting debt is a priority, current budget chief Jack Lew, who is popular with the GOP, stands out. Other familiar names doing the rounds include White House chief of staff - and former JPMorgan exec - Bill Daley; Fed vice chair Janet Yellen; and Gary Gensler, Commodity Futures Trading Commission chief.
Either way, Obama needs to start with a big list. He has struggled of late to fill economic posts. A Treasury offer might not get an automatic "yes" given the difficult economic environment and political headwinds of an election cycle, not to mention the possibility that the job might only be open for 18 months if Obama fails to secure a second term.
True, there are inspired choices to consider given the shift in Treasury priorities. Facebook's second-in-command, Sheryl Sandberg, who is also a former Treasury chief of staff, would be one. Of course, working at the world's hottest Internet firm sounds more intellectually challenging (and more fun and lucrative) than implementing financial reform and issuing debt. Come to think of it, no wonder Geithner is glancing toward the exits.
