Geithner Defends Bailout to Dems, Doesn’t Ask For New Money

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Treasury Secretary Tim Geithner paid a visit to House Democrats last night for a wide-ranging talk that didn’t include any requests for more financial bailout money, but did come with a plea for patience as the Obama administration attempts to stabilize the economy.

“We’re doing more in weeks than other countries do in years,” Geithner told Democrats, according to Rep. Elijah Cummings (D-MD). In a post-meeting interview with ABC, Cummings was addressed the critics that have been decidedly unenthused* with Geithner’s performance thus far:

Cummings said Geithner’s ill-fated unveiling of the administration’s financial stability plan on Feb. 10 created doubts in the minds of critics.

“One of the worst things he did was that initial speech, because it set a pattern that maybe something’s missing here in the minds of some people,” said the Maryland lawmaker. “It’s about trust.”

“One of the biggest mistakes he made was coming out initially with that speech. He was seen as the golden boy … and then for him to come out, with everyone on the edge of their seats waiting for a specific plan and all we got were some ‘rah rahs’ and ‘go team’ — that didn’t sit too well.”

Despite the criticism directed at the treasury secretary, Cummings expressed confidence that Geithner is the right man for the job.

“I think he can do the job,” Cummings said. “I think the guy is very competent.”

“If Geithner were to go, it would hurt,” Cummings cautioned. “A lot of this is [about] confidence.”

Are more Democrats struggling with buyers’ remorse over Geithner, who had to battle to win confirmation amid a tax payment scandal? We’ll be following this story closely over the coming days.

Late Update: Cummings’ candid remarks were a reference to outside skepticism of Geithner, not any doubts the congressman may hold about the Treasury chief. Cummings is “one million percent behind Tim Geithner,” his spokeswoman tells TPMDC. “He is as confident in [Geithner’s] ability to do the job as he was on day one.”

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