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Timothy Geithner: After the financial crisis


Following up on my check-in on the economy series for the summer for Monterey students, I have reviewed the Wall Street Journal’s Money magazine with an interview with Timothy Geithner, who played the part of “Tiny Tim” in the worst financial crisis in America’s history since the 1929 Great Depression in 2008. As Secretary of the Treasury under Barak Obama; he, Hank Paulson and Ben Bernanke tried to stave off the inevitable -- the collapse of the economy with stimulus packages for the unemployed and bank bailouts with the Congressional push back. Those actions lead Mr. Geithner to say shockingly that we rewarded the arsonist, meaning the banks, to keep the economy from total collapse.

As President Barack Obama's first secretary of the Treasury, Geithner helped pilot the country through the worst financial crisis since the Great Depression.
Photo by Chip Somodevilla/Getty Images

Other articles in the Money magazine such as golf courses in Russia and potential horse racing clubs in China, show that the global appetites for free market trading and living the good life in a capitalist society have not waned in retrospect.

Another up and coming money making scheme is “Fantasy Sports”, where people can bet on any and all kinds of sports from football, baseball and soccer to NASCAR racing.

So what is the take away from Timothy Geithner for youth in school and looking for a career in the number 1 country in the free world?

Asked about advise he would give to someone inventing the color of their parachute; he says that before you decide which sector, private or public you want to be in, first decide if you want to champion a cause or develop a craft. Once you decided which of those you want, the next important things to consider beside working with the kinds of people that you want to work with, are to consider taking on more responsibility than you are used to, learning a lot in a position, and last but not least, tone down your ambition expectations and focus on what would be interesting to you.

But before you become too optimistic about your bright economic future, check out Shahid Buttar’s video, the NSA vs USA, because you may find that the people’s right to life, liberty and the pursuit of happiness are at risk with all the government agencies spying on you and your bright innovative ideas for making money in your bright new career.

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