Geithner needs to step up or step aside

I have grown restless lately, waiting for Treasury to step up to the plate and act like a leader. This morning I read a NY Times article that points out a main reason why - Treasury Secretary Tim Geithner still has not staffed up the Department. The Times points out that Geithner has only filled about half of the top spots.

I think we can all agree that the economy is the most pressing issue we face right now, and the Obama administration is dropping the ball big time. As the Times article pointed out, "Of the four major federal departments — State, Justice, Defense and the Treasury — the Treasury has had the fewest nominees even though it is dealing with probably the most significant problems facing the government." That shortfall is on Geithner.

So far Geithner has been a dud. When we need bold action and reassurances, we get a Treasury Secretary that hardly ever appears in public, and when he does his pronouncements are so vague, so uninspiring, that he actually makes the problems worse. Those open Treasury posts are an example of how unqualified Geithner is. To be effective at that job, you need to be not just savvy about economics and the market, but you need to also be a leader, a recruiter, a manager, a coach and a delegater. It appears that the reason Treasury is moving so slow is because Geithner is doing everything himself.

These are extraordinary times, and we need extraordinary effort. We are not getting it. Obama needs to take Geithner to the wood shed. Step up or step aside. We need to know that the best and brightest are working on the economy and our foundering banking system. If Geithner can't do the job, President Obama should cut his losses and replace him.