Timothy Geithner '83, president of the Federal Reserve Bank of New York, has been propelled into the public spotlight with his involvement in the current financial crisis.
Geithner is working closely with fellow Dartmouth alumnus Treasury Secretary Henry Paulson '68 and Federal Reserve Chairman Ben Bernanke to minimize the damage of the recent meltdown in the American financial markets.
The three are the primary architects of government bailout plans, and the key proponents of the Troubled Assets Relief Program, a $700 billion buyout plan designed by Paulson which was voted down by the House of Representatives Monday. Geithner was also a principal figure in the April 2008 Bear Stearns buyout deal, which allowed J.P. Morgan to acquire the failed bank with the help of a $29 million loan from the Federal Reserve.
A Larchmont, N.Y., native who spent his childhood summers in East Orleans, Mass., Geithner followed his father, Peter Geinther '54, to Dartmouth in 1979. He double-majored in government and Asian studies at the College. Classmates described Geithner, who worked on campus as an event photographer, as a dedicated student.
"He was extremely committed to his job as a photographer," Carole Sonnenfeld Geithner '83, Timothy Geithner's wife, said. "He spent a great deal of his time on that."
The couple met during their senior year at Dartmouth.
Geithner went on to earn a master's degree in international economics and East Asian studies from Johns Hopkins University and, after a three-year stint at Kissinger and Associates, a Washington, D.C., consulting firm, Geithner joined the International Affairs division of the Treasury Department. There, he rose to assistant secretary for international affairs in 1997 and was named undersecretary the following year.
Geithner was often the youngest among his colleagues, according to The Washington Post. Geithner appeared confident despite his age, Robert E. Rubin, former Treasury Secretary, told The Post, recalling his first encounter with Geithner at a meeting lead by then-deputy Treasury Secretary Lawrence Summers.
"And at some point, a young-looking fellow at the table made some comments disagreeing with Larry ... And that was Tim," Rubin told The Post.
In the past, Geithner has cautioned against relying on political stereotypes in the economic world. In a previous interview with The Dartmouth, he likened the Federal Reserve to the Supreme Court, referring to their non-partisan makeup. He cited the Federal Reserve's nearly complete separation of politics and policy as a major strength of the organization.
Geithner also chairs the G-10's Committee on Payment and Settlement Systems of the Bank for International Settlements and serves on the Board of trustees of both the RAND Corporation and the Economic Club of New York. He received a Nelson Rockefeller Public Service Award from the College's Rockefeller Center in 2006.
He currently resides in Larchmont, N.Y., with his wife and their two children. Geithner is an avid tennis player.
Geithner could not be reached for comment by press time.
