Interesting Exchange with a friend who lives Near Tim Geithner in Westchester:

M: Saw him twice today here in Larchmont. His family must have moved back already. Probably a while ago.

Barry: Never sold the house, did he?

M: Doesn’t look like it. I’d bet the family has been living here for a year. They’ll sell and move when he gets his next job, though.

B: Does he go to Goldie or do they have no use for him now/it looks too quid pro quo?

M: I’d say the options are: BoA in a role like Rubin’s at Citi; Pimco to do something just judging by recent hiring trends; or  PE firm like Carlyle that’s looking to do banking deals

B: Let the crowd decide: “Where will Timmy Go?

M: Sounds good. Hard to imagine he could go to a big bank. The optics would be terrible.

Optics aside, this does raise a fascinating question: Where will the former NY Fed chair/current Treasury Secretary end up?

Let’s turn this to and open thread: Where does Timmy end up and why?

Some ideas:

Goldman Sachs
Big Bank (BAC/Merrill, Morgan Stanley)
Bond shop (PIMCO)
Big Hedge Fund
Private Equity/Venture Capital

So there are a few of my ideas,m but I want to hear yours about where the Treasury Secretary goes to collect his Lucre after his “public service.”

What say ye?

Category: Politics, Really, really bad calls, UnGuru

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

67 Responses to “Reader Poll: Where Does Geithner Go After Treasury?”

  1. Jo says:

    To hell in a handcart…

  2. VennData says:

    Academia.

  3. GYSC says:

    Easy. “Dancing with the Stars”

  4. DrSandman says:

    Blogger oversight… Jail is not listed as an option.

  5. b_thunder says:

    He’ll play the leading role in the new movie “Geithner and Butt-head do America”

  6. Sechel says:

    Geithner has the rolodex. It’s really his option. But I see him avoiding the big four Goldman, Wells, JP Morgan & Citi who have no business model and are too in the spot-light. There’s lots of places he can go to where he can get the deal done, and tap into the big four should the need arise.

  7. Aaron says:

    Disneyland with the kids, then to Vegas to play roulette with the missus?

  8. nofoulsontheplayground says:

    He’ll be the new spokesperson for Turbo Tax!

    Seriously, I don’t think it’s as easy for him to work for a TBTF company today as it would have been pre-2008.

    He used to work for Kissinger Associates, and I could see him setting up a shop similar to that. He’s an academic, and that’s the perfect situation for him.

  9. RW says:

    Geithner doesn’t have Rubin’s wealth so a sinecure may be insufficient. OTOH he has so much inside information to work with that his strongest money move would probably be PE/Venture …or, yes, damn the optics and Goldie but not one of the other big banks I think.

    If the scuttlebutt is true that the big banks have been whining about the service even though Obama/Geithner moved heaven and earth to save their bacon it shouldn’t particularly surprise if a couple of them got tossed under the bus when all is said and done. I have no basis for that opinion, it just pleases me somehow.

  10. rd says:

    I think he will end up in a think tank for a few years doing lobbying (consulting) and speaking on the side to pay the bills. He will probably be able to command 6 figures from his banker buddies every time he talks at one of their Rotary luncheons.

    In theory, I don’t think they care that much about optics (Corzine & Co. appear to have just embezzled over $1B of “Client segregated assets” and nobody has even blinked), but I don’t know how much clout Geithner would have with Congress and regulators in too open a position..

  11. jaymaster says:

    Blackrock.

  12. ssc says:

    As another reader pointed out, academia is a possibility, plenty of precedents, Larry Summers, Laura Tyson..

    May be a post to China (trade csar, ambassador), as I understand it, he’s fluent in Chinese, and in these day and times, that’s worth something.

  13. obsvr-1 says:

    Fortress needs a FIG-ur-head now that Mudd is under the DOJ micro-scope for FNM malfeasance.

    Fortress Chief Daniel Mudd Resigns
    http://online.wsj.com/article/SB10001424052970203718504577181500086460654.html

  14. bear_in_mind says:

    Simple: since he’s done his pilgrimage in “public service” he’ll now go the highest bidder. Aside from being on the West Coast (and having to uproot his family), PIMCO sounds like an ideal landing place.

  15. Northeaster says:

    “Where will the former NY Fed chair/current Treasury Secretary end up?” -

    At the end of a fucking rope hanging from a lamppost, right with every other politician and crony that fucked over this country and it People ten times over.

  16. If Billary heads to the World Bank I think he’d ideally like to be Secretary of State. Given his success at keeping the foreign money flowing into the U.S. he might be able to contribute something in this position.

  17. MayorQuimby says:

    Problem número UNO:

    Public “service” = path to enrichment in the private sector.

    It is really quite astounding that hundreds of millions of people are perfectly fine with this whole 3rd world debacle….

    If he is making more then min. wage working at Starbucks it is too much.

  18. Aside from being on the West Coast (and having to uproot his family), PIMCO sounds like an ideal landing place.

    I’m betting someplace like Carlye. It’s a perfect fit since he used to work for Kissinger’s outfit.

  19. T_S says:

    I have actually talked myself out of this. My original idea was ‘nowhere; regulatory nightmare’, but we don’t have regulators. He’ll go to Goldman. Or he’ll go create his own firm and exploit his cache of connections and inside information, both inside the government, and among the biggest and most corrupt financial institutions in history.

  20. Non Sequor says:

    Shouldn’t there be some sort of half way house sort of thing to help people like this find honest work as they come out of the system?

  21. Transor Z says:

    George Shultz – Ex VP of Bechtel Group
    Blumenthal – Burroughs/Unisys (Chairman)
    James Baker – Sec of State
    Nicholas Brady – Darby (Chairman)
    Rubin – Citigroup
    Summers – Harvard

    Paul O’Neill – check out this hatchet job on O’Neill in the December 2002 Economist: http://www.economist.com/node/1487861

    From NYT Magazine interview 3/30/2008:
    Q: Have you seen Dick Cheney since he fired you?
    A: I have been to a few events where the vice president was there, but we both did our best to ignore each other. You know, I was a pallbearer, and he was a pallbearer, too.
    Q:You mean at President Ford’s funeral?
    A: Yes.
    Q: And you didn’t say hello?
    A: Nope. It was a good time to be alone together.

    Q: Do you feel bitter about your service for the Bush administration?
    A: No. I’m thankful I got fired when I did, so that I didn’t have to be associated with what they subsequently did.

    John Snow – Cerberus (Chairman)
    Henry Paulson – Academia (Johns Hopkins, U Chicago)

  22. steveg62 says:

    I guess prison is just wishful thinking.

  23. Livermore Shimervore says:

    He can work where if he chooses. He knows the secret handshake.

    Imagine if this guy decided to spill ALL the beans on the real purpose of the bank bailouts?

    He should get together with Michael Lewis.

  24. dsawy says:

    Former NY Fed pres and SecTreas?

    Goldman.

  25. morning_star says:

    A lot of (well-earned) anger is being expressed here.

    I think he may be a “vice-chairman” at a foreign bank, in the same manner that former US Senator Phil Gramm now works at UBS after he and his wife have done so much damage to our country. It would have been unseemly for him to have taken a job paying hundreds of millions of dollars from a US bank after all he did.

    And as you yourself said about Gramm “Gramm’s position at UBS is “vice chairman” — dubbed “the greatest job in business” for its combination of high status and low work rate. It is a do nothing patronage role that is reward for all the Wall Street friendly legislation Gramm has sponsored. At least, they used to be considered Wall Street friendly, prior to their leading to the Street imploding.” http://www.ritholtz.com/blog/2009/06/ubs-phil-gramm/

  26. gman says:

    I have heard that “Obama has waged such a war on wallstreet” that he may need to go into protective custody. Given the “outrageously high tax rates in this country he has no incentive to find a job, and may just GO GALT”

  27. Bill Wilson says:

    This was a quote by Dylan Ratigan:
    “There needs to be a seven year cooling off period for all Politicians, staffers and regulators from working in any related industry or lobbying their former colleagues.”

    This is an opportunity for President Obama to propose this type of rule. I’m not holding my breath.

  28. wcvarones says:

    Prison, I hope.

  29. lalaland says:

    I’m going with Venndata for Academia. If you’ve watched that man testify before congress it’s pretty clear he can barely stand politicians, and I don’t think he’s a profiteer at heart so I’m nixing lobbying or working for a bank. I don’t think he likes the limelight; I’d say whatever allows him to earn a living away from all the (other) know-it-alls that dominate NY and DC.

  30. Chief Tomahawk says:

    A: Lead writer for “South Park”.

  31. JimRino says:

    I thought BoA was near death, so that’s out.
    I’d say these guys don’t give a **** about public opinion, so it’s GS, for his proper reward.

  32. maddog2020 says:

    @ Mornin_star:
    Orszag (former Obama OMB dir.) is a vice chair @ Citi. Timmy gets a better title than that.

  33. louis says:

    I bet he goes to Denver or Arizona, Or Maybe Miami.

    Did he get his loan refi, or is he still underwater?

  34. Crabbybill says:

    @steveg62:
    I’m with you — my money is on TARP misuse (autos and banks) and aiding/abetting the fiduciary breach at the PBGC (auto pensions)

  35. blueoysterjoe says:

    I’ll tell you one thing … He doesn’t give two shits about “optics”.

  36. SOP says:

    Tim and Jon Corzine open a bed&breakfast/bait shop in some small village in the Southern Hemisphere – just before “the Trials” start.

  37. Joe_in_Indiana says:

    Geithner’s father and Obama’s mother worked in Indonesia together. Maybe he should go there and do some community service-if he has the heart (sic).

  38. MikeW says:

    RW, nice use of ‘sinecure’. Always loved that word, and someday I’ll look up exactly what it means.

    As for our Wee Timmy, he’d make for a commanding presence in just about any infomercial, slap chop, sham wow, you name it, perhaps with Vince Offer for a side-kick.

    While we’re at it, let’s have the pasty little bookworms over at The Weekly Standard lay down their asthma inhalers and pick up M-4 carbines on route to the Natanz nuke sight over there in Muslimised Persia, seeing how “Real men want to go to Tehran.

  39. Bridget says:

    Depends on who wins the election. Without his connections to Obama to peddle, what’s he got? (Besides Congressional Hearings and the Fifth Amendment)

  40. Market Panic says:

    World Bank

  41. crunched says:

    To Hell.

  42. Julia Chestnut says:

    Lobbying. He might go to academia — I think he fancies himself the type. But possibly somewhere like SAIS or the Kennedy School – one of the foreign service schools with some focus on economics. But they don’t pay well, and he’s got kids.

  43. mathman says:

    i envision him as a future hot dog cart purveyor or shoe shine guy (with the “right information”- for tips), since i’m not sure he can cut hair with any style. Dog catcher/pooper picker upper might also work for him.

    http://www.youtube.com/watch?v=7udsYPVhl6Y

  44. Raleighwood says:

    As an entrenched East coast elite he will surround himself with like–minded white color criminals, the family will hang with the families of same via prep schools and clubs and they will float around in the global, trans-national, community, sustained on the rarified air of natural born immunity, loyal to anything that pays well and never once encountering either the propriety, optics or appearances of the 99.9%, much less the actual riff-raff itself.

  45. Moss says:

    Maybe he writes a book. What a fairy tale that would be. Would make Paulson look like a historian.

  46. Mark Down says:

    Timmy, will go to whoever offers the most cash…. Timmy is all about the Benji’s!

  47. sditulli says:

    Being completely honest I hope he gets paid. It may be corruption, but he’s been entirely underpaid for the past 6 years. Love or hate his policies I do believe he and Bernanke have engineered a viable reflation strategy and vastly affected the lives of the entire world in a positive way even if it involved hand out to those who do not deserve them.

    We severely underpay high-end talent in the public sector. The way they get paid is selling out to the private sector later. That is the system we created and they deserve to get paid. Perhaps we should pay public servants more so they do not feel the need to later sell out to the private sector to catch up with their peers financially.

    Market wages for the work Geithner’s done the past few years would run int he 10′s of millions and I bet he’s been making 500k/year. I made more my second year out of undergraduate

  48. ToNYC says:

    Best option is as private retainer knowing where the bones are buried and the pictures to prove it. As a result of his visit to Europe just after the liquidity/lehman moment in France that most didn’t notice in November , theECB found the Fed narcotic, tune carried the day with infinite swap theory and 3 trillion magic euros from space with a 3-yr LTRO…pure magic as he inflates the collapsing balloons.
    Watch your assets. Balances in the Account are smaller than they appear.

  49. Bokolis says:

    I gather the “Optics aside” was- in part- to head off anyone asking WTF is your homeboy doing dropping corporate-speak ater hours.

    Oh, Geithner – somebody’s crosshairs. When they are used up, these guys get to work for the private sector- and take nibbles out of the government in the process. Avoiding that was a fringe benefit that Stalin enjoyed by killing most of his people when he tired of them.

  50. TomOfTheNorth says:

    Not sure where he goes but, nuch like the Cheshire Cat, I suspect his smirk will linger for quite some time….

  51. Robert M says:

    My preference would be locked in aroom in the FED, where he is screaming America is so unworthy while playing Russian roulette w/ a Taurus .22 w/7 rounds in the cylinder.
    Reality any place in he wants that has a banking operation

  52. thenoz says:

    Timmy can’t go to PIMCO as they didn’t get the word and were wrong way on Treasuries

  53. cognitive dissonance says:

    Grey’s Papaya — I have seen the application. It’s a done deal.

  54. louis says:

    Just hope your daughter is not in his finance class.

  55. AHodge says:

    i ve been sayin for 2 years–not completely kidding
    he will either be CEO of CITI / B of A
    or in jail. or both in time
    i still dont know,
    but i doubt GS– they know they have an image prob.
    while you and i and maybe most here
    think CEO or to bank job would stink beyond belief
    he hasnt been convicted of anything, he’s more articulate than most treas secs
    and those two boards seem not to have a prob w the incumbents or any other ethics issues
    CEO too high? maybe
    but many treas secs have made it, esp the business connected

  56. AHodge says:

    but he does have a hkind of boyish undignified demeanor
    they might not go for CEO unless they totally aiming at frontman for the unwashed public?
    im told Japanese women think he’s totally hot? go figure

  57. AHodge says:

    GS also has mostly home grown CEOS
    reflecting that they know what the F they are doin..
    Timmy i believe does not have any actual private bank/finance experience

  58. AHodge says:

    Ds even highly articulate accomplished industry stooges like Rubin
    tend not to get CEO jobs?
    But timmy actually came in as an R and has the Kissinger connection?

  59. dcsos says:

    “To Hell in a Handcart” what about Timmy serving his true master Henry K.
    That handcart will be pulling Henry Kissinger as it arrives in Hades

  60. cthwaites says:

    PIMCO sounds good but he wd have to share air-time w Mohammed…do they need another spokesperson? He might run for PTOUS…he has the charisma of Romney and the eloquence of Bush. Jus’ freebasing

  61. SCTTD says:

    Lord Lloyd is not in the catbird seat from what I’ve read. Timmie as Non-Executive Chariman of Goldie?

  62. dedalus says:

    Blackrock, KKR or Getco.

  63. paloo says:

    FusionIQ?

  64. Jack says:

    I started reading the comments and thought I had stumbled into the People Magazine site.

  65. bear_in_mind says:

    Well, well, well. The plot thickens….

    Goldman hires ex-Geithner aide as top spokesman
    Reuters
    By Lauren Tara LaCapra
    Tue Mar 13, 2012
    http://www.reuters.com/article/2012/03/13/goldman-spokesman-idUSL2E8EDFRC20120313?feedType=RSS&feedName=everything&virtualBrandChannel=11563

  66. Where should he go if behind-the-scenes details were public? – Jail. Where will he go? – Not sure.