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Man in the Middle
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He has relied extensively on persuasion and personal interaction and has not sought new regulatory powers, which could come in for second-guessing if market conditions worsen.
Unlike most of his predecessors, Geithner came to the job with little experience in the private sector. Nor does he have the economics background of Bernanke, who had spent his entire career in academia before succeeding Alan Greenspan in 2006.
Instead, what Geithner brings to the table is his experience as a crisis manager. During the market turmoil, Bernanke and Treasury Secretary Henry M. Paulson Jr. have been in touch with Geithner regularly for updates on Wall Street sentiment and other matters.
Geithner, who joined the Treasury in 1988 as a civil servant, rose rapidly through the ranks, becoming assistant secretary for international affairs in 1997 and undersecretary a year later, a highly unusual move for a career staffer.
His selection for a position at the International Monetary Fund, which plucked him to head the policy development and review department in 2001, was also a surprise. The fund has been known for its well-defined seniority system, with economists rising through the ranks to positions of power.
Throughout his career, Geithner has often been the youngest person in the room. It's a fact that has not fazed him, say former colleagues and senior bankers who have met with him.
Robert E. Rubin recalled that when he became Treasury secretary, he went to a meeting presided over by his deputy, Lawrence Summers. "And at some point, a young-looking fellow at the table made some comments disagreeing with Larry. . . . And that was Tim."
Among Geithner's strengths, say those who know him, are his ability to map out several plans and his willingness to act on them despite the uncertainty of the outcome. Tellingly, a recent favorite book is "Complications: A Surgeon's Notes on an Imperfect Science," a candid look at the medical profession by a surgeon, Atul Gawande. Its three main sections are titled "Fallibility,'' "Mystery'' and "Uncertainty."
Geithner "would lay out steps that you could take, rather than a set of considerations that you could think of," Summers said.
Staff writer Neil Irwin in Washington contributed to this report.
