Geithner's tough job

As the Obama administration's efforts to stabilize and then revive the economy and the financial system continue, it has become clear that the toughest job in D.C. belongs to Secretary of the Treasury Geithner. He is the nuts and bolts guy. The President sets the tone, gives the overviews, and expresses frustration, confidence, outrage, or encouragement as the day's events dictate. Larry Summers does occasional sessions on the Sunday talk shows, going into the rationale for various programs in the manner of an insightful economist. Senior statesman Volcker occasionally weighs in with big picture comments that are sobering or worse, Christina Romer and Sheila Bair play supporting roles, but the person who has become primarily responsible for explaining how everything works is Geithner. Since the comments of other members of the team are not always perfectly stated or more likely are taken out of context by the media or members of Congress, Geithner's seemingly daily challenge is to put it all together for a generally negatively disposed audience, that and of course to run the Treasury Department. Since the success of the multiple programs is dependent on the vagaries of the financial markets around the world Geithner's ability to precisely define outcomes is limited, an obvious comment but not one that many want to hear. He can be earnest, calm, and inoffensive, and hopefully have the skill to get through it all. Even with that, he needs the programs to work, or we do.