Within days after GM’s CEO Rick Wagoner was forced out by the Obama administration, Treasury Secretary Timothy Geithner left open the possibility that such moves could happen again.
Couric: “So you leave the option open to actually pressure a bank CEO to resign?”
Geithner: “Of course. Of course.”
“You’re gonna see the strongest consensus on coordinated global stimulus you’ve seen in generations,” he said. “A very powerful consensus on the kind of 21st century rules of the road for our financial systems.”
Geithner acknowledged the enormity of the crisis but said a unified effort would help reverse the financial downturn.
“We’re gonna have setbacks ahead,” Geithner said. “And that’s why it’s so important that we’re moving together with the world to try to make sure we bring recovery back. And the world is with the president on this.”