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Backroom Geithner chatter. (Off The News).

One of the favorite pastimes among International Monetary Fund officials recently is a discussion of the various explanations offered by former Treasury Undersecretary Timothy Geithner for his decision to accept the post of Director of the Policy Development and Review Department at the Fund, after failing to secure the No. 2 position of First Deputy Managing Director, formerly held by economist Stanley Fischer.

Some IMF officials cite Geithner's explanation that he would "never, ever" accept a private sector position in the financial markets. Yet others, when comparing notes, say that Geithner had actually expressed a desire for private sector employment. Some of the more mean-spirited long-time IMF hands suggest the former Clinton official was aggressively interviewing on Wall Street before disappointingly coming to the IMF (though some add that he would find any private sector opportunity rather mundane after the dazzling Rubin-Summers Treasury years.)

Ever the diplomat, TIE believes Mr. Geithner no doubt was offered a host of enticing private sector opportunities, but clearly remains committed to the goal of maintaining a historic continuity of expertise in the public sector at this time of global financial fragility.
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Title Annotation:Timothy Geithner's new position at International Monetary Fund
Publication:The International Economy
Article Type:Brief Article
Date:Nov 1, 2001
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