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Geithner’s Got Blankfein on Speed Dial
So who does Timothy Geithner, the secretary of the Treasury, talk to? A select few Wall Street executives, it turns out.
The Associated Press, through a Freedom of Information Act request, reviewed Geithner’s personal appointments since he took over as the secretary and found that the secretary has a few Wall Street CEOs on his speed dial.
In the first seven months of Geithner’s tenure, his calendars reflect at least 80 contacts with Blankfein, Dimon, Citigroup Chairman Richard Parsons or Citigroup CEO Vikram Pandit. Geithner had more contacts with Citigroup than he did with Rep. Barney Frank, the lawmaker leading the effort to approve Geithner’s overhaul of the financial system. Geithner’s contacts with Blankfein alone outnumber his contacts with Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking Committee. …
But size does not tell the whole story. Treasury has a huge financial stake in North Carolina-based Bank of America Corp., but CEO Ken Lewis appears on Geithner’s calendars only three times. Morgan Stanley CEO John Mack also appears three times.
What is interesting is not just who Geithner was talking to, but when.
On March 24, just after Geithner announced plans to help banks sell off toxic debts left over from the housing market meltdown — which stood to be a boon for big banks — his calendars reflect a busy morning. He had a briefing on terrorism financing, a meeting on tightening financial regulations and a prep session for congressional testimony. Geithner emerged to take just three phone calls, from Vice President Joe Biden, New York Attorney General Andrew Cuomo and shortly before heading to Capitol Hill, from Dimon.
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