Geithner On Ousting CEOs, State Of The Economy
Treasury Secretary Timothy Geithner sat down with CBS News' Katie Couric to discuss ousting CEOs and reviving the economy.
Days after GM's CEO Rick Wagoner was forced out by the Obama administration, Treasury Secretary Timothy Geithner left open the possibility that such moves could happen again.
In an interview with CBS News, Geithner acknowledged the government has had to do "exceptional things" – citing AIG as well as Fannie Mae and Freddie Mac.
"We have changed management aboard," he said. "And where we've done that, we've done it because we thought that was necessary to make sure these institutions emerge stronger in the future."
CBS News: Geithner On Ousting CEOs, Reviving Economy
Geithner tells ABC's Charlie Gibson that there is no double standard for the auto industry:
Geithner was also interviewed by NBC News' Brian Williams. Here is the video:
