I kid, I kid…But seriously, I’m not exactly sure if this is how we’re supposed to be judging Treasury Secretaries, lol…
This is an actual Bloomberg article opener:
Feb. 21 (Bloomberg) — Timothy F. Geithner, who took over the Treasury Department in the midst of the worst financial crisis since the Great Depression and oversaw the almost doubling of U.S. public debt, has done better for investors than Robert Rubin while falling short of Henry Paulson.
Since Geithner assumed office in January 2009, returns on Treasuries have exceeded bonds of other countries by 0.3 percentage point on an annualized rate, according to Bank of America Merrill Lynch index data. That’s less than Paulson’s 7.5 percentage points. Under Rubin, returns on Treasuries lagged behind foreign issues by 1.6 points.
So the low yields and high prices of US bonds are to the credit of Tim Geithner? And because of the specter of a full-scale Euro bank run coupled with Bernanke’s 3-year “pushin’ on a string” liquidity heli-drop?
Got it. Okay, sure. Everyone gets to be a PM now – can we find a way to pay a performance fee to T-Geith on these wonderful numbers?