Geithner Won’t Rule Out Firing More CEOs
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.
In an interview with CBS Evening News anchor Katie Couric, Geithner acknowledged the government has had to do “exceptional things” – citing AIG as well as Fannie Mae and Freddie Mac.
“We have changed management aboard,” he said. “And where we’ve done that, we’ve done it because we thought that was necessary to make sure these institutions emerge stronger in the future.”
When asked if he would leave open the option to pressure a bank CEO to resign, Geithner replied: “Of course.”