Tim Geithner turns out to be the most toxic asset of all.
And another down, and another one gone, another one bites the dust…
H. Rodgin Cohen, chairman of the New York law firm Sullivan & Cromwell, has withdrawn his name from consideration for deputy Treasury secretary, becoming the fourth pick for a prominent Treasury Department post to pull out in recent weeks.
A prominent attorney who has advised many of the top Wall Street firms, Cohen dropped out after the White House found an issue during his vetting process, two sources familiar with the matter said. The sources declined to identify the reason. Cohen did not respond to messages seeking comment.
Though the Treasury is filling its lower-level positions, the thin ranks on the senior levels are taking a toll on the department’s ability to deal with a financial crisis that continues to deepen in scope and complexity, government and industry officials say.
Gus O’Donnell, Cabinet Secretary for the British government, was quoted this week in British news reports saying it has been “unbelievably difficult” to talk to people at the U.S. Treasury: “There is nobody there.”
Treasury Secretary Timothy F. Geithner said Wednesday during a briefing with reporters that he was “a little surprised” when told of the comments. He added that he has been working closely with British officials and had not heard of any communication problems.
What I most definitely do not want to hear is whining from the Bend Over Republicans who stupidly embraced Tim Geithner despite all the warning signs.