Timothy Franz Geithner, an American former central banker, was born on August 18, 1961, and held the esteemed position of the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. Prior to his tenure as Secretary of the Treasury, Geithner served as the President of the Federal Reserve Bank of New York from 2003 to 2009, following his service in the Clinton administration. Since March 2014, he has been the president and managing director of Warburg Pincus, a private equity firm headquartered in New York City.
During his tenure as President of the New York Fed and Secretary of the Treasury, Geithner played a pivotal role in government efforts to recover from the financial crisis of 2007-2008 and the subsequent Great Recession. At the New York Fed, Geithner was instrumental in managing crises involving Bear Stearns, Lehman Brothers, and the American International Group, ultimately helping to stabilize the financial system. As Treasury Secretary, Geithner oversaw the allocation of $350 billion under the Troubled Asset Relief Program, enacted during the previous administration in response to the subprime mortgage crisis.
Geithner also had a significant impact on the administration's efforts to restructure regulation of the nation's financial system, with a focus on spurring recovery of the mortgage market and the automobile industry. Additionally, he navigated the complex landscape of global finance issues, negotiating with foreign governments and advocating for protectionist measures, tax reform, and other key initiatives.
