Business | General
Geithner carries fat burden but thin wallet
Not a single US dollar in sight as US Treasury secretary reveals contents of his pocket.
- Reuters
- Published: 23:49 May 23, 2009
Washington: What's in the wallet of Timothy Geithner, whose hands as US Treasury secretary are on some of the fattest government purse strings in the world?
Not much, it appears, beyond a few bank cards, some euros and a worthless Zimbabwean bill.
Geithner, testifying to a congressional panel on Thursday about efforts to tackle the financial crisis, was shown a $50 billion (Dh183 billion) bank note from Zimbabwe that has nearly no value due to hyperinflation in that African country.
Representative John Culberson asked Geithner if he had ever seen such a bill himself, prompting the Treasury secretary to reach into his pocket and produce a Zimbabwean note.
"I often have some foreign currency in my wallet," Geithner said during a break. "Want to see?"
Many of the slots in the thin, weathered leather wallet were empty.
There were three cards with Visa and MasterCard logos - all inserted upside down so the issuers could not be seen - and a yellowed identification card of some sort.
From inside, Geithner pulled a small pile of receipts and papers, including a New York City transit card, pointing out there were some euros tucked in there too.
Anything else? Not a single US dollar was in sight.
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