Position: U.S. Treasury Secretary
Win: Got the job despite tax problems and housekeeper work status issues that should have tanked his prospects.
As president of the New York Federal Reserve when the meltdown occurred, Geithner was there at the beginning of the bailout. He was among the officials who knew on Day 1 that the rescue of AIG would cost more than $100 billion even as his crew announced it would be $80 billion.
When President Obama nominated him to be Treasury secretary, Geithner’s failure to do his taxes properly or account for his domestic help would have tanked his chances during normal times, But the economic situation a year ago was so dire that he got a pass for his shortcomings, as the newly-elected president needed someone who knew the collapse from the inside.
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