Timothy Franz Geithner

Picture of Timothy Franz Geithner

Date of Birth: 08/18/1961

Age: 55

Place of birth: Brooklyn, NY

Citizenship: United States


Timothy "Tim" Franz Geithner born August 18, 1961 in Brooklyn, NY. His father, Peter Geithner, worked in the United States and the International Development Agency of the government, who regularly travel to Zimbabwe and Zambia and was the head of programs of assistance to developing countries by the Ford Foundation. His mother, Deborah was a musician, a teacher - taught to play the piano. The old Geithner had a lot of well-known figures of American politics and business: his maternal grandfather was the vice-president of carmaker Ford and advisor to President Dwight D. Eisenhower. Brother Deborah Geithner, Jonathan Moore, was Deputy US Representative on political cooperation in the United Nations under President George HW Bush.

Geithner`s father took the family on business trips, and much of his childhood, Timothy spent in East Africa, as well as in India, Thailand, China and Japan. He is interested in photography, and one day, during his studies at the school, traveled to Cambodia, where they filmed scenes from the life of refugees. Geithner graduated from the International School in Bangkok (International School of Bangkok) and returned to the United States, entered the Dartmouth College (Dartmouth College). There he studied Chinese and Japanese and senior years was an instructor in the Chinese language. In 1983 Geithner received a Bachelor of Arts degree in Public Administration and Asia. Then he entered the school of Advanced International Studies at Johns Hopkins University (The Johns Hopkins University School of Advanced International Studies), where in 1985 he received a master`s degree in International Economics and Asian countries.

After finishing his studies, Geithner took a job at a consulting firm Kissinger Associates, where he was assistant to Henry Kissinger (Henry Kissinger), Nobel Peace Prize winner and former US Secretary of State. In 1988 Geithner came to work in the Department of International Affairs of the Ministry of Finance (Treasury) USA. From 1994 to 1996 he was Deputy Assistant Secretary of the Treasury for international monetary and financial policy. From 1996 to 1997 - Assistant Deputy Minister of Finance for International Affairs. From 1997 to 1998, Geithner served as Senior Assistant Deputy Minister of Finance for International Affairs. At work in the Ministry of Finance Geithner led the activities to help the economies of Brazil, Mexico, Indonesia, South Korea, Mexico and Thailand affected by the global crises of the late 1990s. In addition, during this period Geithner briefly worked as an assistant attache for Financial Affairs at the US Embassy in Japan.

From 1998 to 2001, Geithner served as Deputy Minister of Finance for International Affairs. At this time, the Ministry led initially by Robert Rubin (Robert Rubin), and then Lawrence Summers (Lawrence Summers) and both that, and another called patrons Geithner and both later supported Barack Obama in the US presidential election in 2008.

In 2001, Geithner left the ministry and entered the non-governmental Council on Foreign Relations, where from February to August worked in the department of international economic relations. In late 2001, he became director of the department for the development and analysis of policy and an independent department of the International Monetary Fund estimates. These posts he held until November 17, 2003 when he was appointed president of the Federal Reserve Bank of New York - the most important bank in the Federal Reserve System (FRS) the USA.

As head of the Federal Reserve Bank of New York, Geithner was the vice-chairman of the Federal Committee on open market the US Federal Reserve operations and was a member of the International Society "Group of Thirty" - combining the most influential financiers and economists from around the world. Back in 2005, Geithner warned managers of investment funds and banks about a possible crisis and tried to limit speculation in the markets.

Geithner has played an important role in activities related to countering the international financial crisis, which began in 2008. Geithner made the decision to rescue from bankruptcy and subsequent sale of investment bank Bear Stearns and insurer American International Group, affected by the crisis. At the same time it influenced the decision of the bankruptcy once the largest investment bank Lehman Brothers and the implementation of other anti-crisis measures of the Fed.

Press noted that Geithner supported equally good relations with Democrats and Republicans. It is sometimes called a moderate Republican, but in 1992 he did not make donations to the election campaign. After winning the US presidential election in November 2008, Barack Obama announced his intention to appoint Geithner US Treasury. The current Treasury Secretary Henry Paulson (Henry Paulson) supported this appointment; it also welcomed, and other experts and the news of him reflected a jump up the US stock market indices. Geithner should be confirmed as Minister of Finance of the US Senate after 20 January 2008.

In his new position Geithner will receive a salary of 191 thousand dollars a year. For comparison, in 2007 as president of the Federal Reserve Bank of New York, Geithner salary was 398,000 dollars.

Geithner is part of the Center for Global Development`s board of directors - Research Institute (think tank) in Washington, DC and is an attorney in New York Economic Club.

Geithner married to Marie Carole Sonnenfeld (Carole Marie Sonnenfeld). They studied together at Dartmouth College, married in 1985 and are parishioners of the Protestant United Church of Christ. Carol`s father was a university professor, and his mother - the conductor of the orchestra at Princeton. Carol worked as an assistant in the lobbying firm Common Cause. Timothy and Carol have two children: a son, Benjamin (Benjamin) and daughter Alice (Elise). Geithner is interested in fishing, tennis and surfing.