Quote Originally Posted by pywong
US Senate confirms Geithner as treasury secretary

WASHINGTON, Jan 27 New York Federal Reserve Bank President Timothy Geithner won confirmation Monday as President Barack Obama's treasury secretary despite personal tax lapses that turned more than a third of the Senate against him. Obama immediately put him to work fixing an economy in "dangerous jeopardy."

During the confirmation hearings, Geithner charged China with manipulating the Yuan. Looks like he is displaying an early talent for putting his foot in his mouth.

Here is the fallout from Davos:

Geithner’s Yuan Call Rejected as ‘Horrible Advice’

By Simon Kennedy

Jan. 29 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner’s call for China to loosen restrictions on its currency was criticized by economists and policy makers at the World Economic Forum.

Allowing the yuan to strengthen would be “economic suicide” amid an economic slump, Stephen Roach, Morgan Stanley’s Asia Chairman, told a panel in Davos, Switzerland, yesterday. “I’ve never seen an economy in recession voluntarily raise their currency. It’s horrible advice.”