Treasury Secretary Is Cool With Firing Bank CEOs

Hey, bank CEOs! Need “exceptional” help from the U.S. Government? Get ready to be fired. Treasury Secretary Tim Geithner told “Face the Nation” that he was open to firing bank CEOs in much the same way that GM chief Rick Wagoner was recently shown the door.

Geithner told CBS:

“If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes. Where that requires a change in management and the board, then we will do that.”

Treasury Chief Says He’s Open to Ousting Heads of Frail Banks [NYT]
[Face the Nation]