Secretary Loophole

When historians look at the dramatic shift in the government-business relationship occurring now, they may well place, at the center of it all, the ingenuity of Timothy Geithner, the Treasury secretary and recently the chairman of the New York Federal Reserve Bank.

I wrote the cover story for the current American Spectator, titled "Secretary Loophole":

From his time at the Federal Reserve Bank of New York to his turbulent four months so far at Treasury, Geithner has made a career out of seeking—and usually finding—ways to do what most people thought the rules wouldn’t allow.

....

It could be that Geithner’s value for Obama— in these unprecedented times and given Obama’s unprecedented ambition—is precisely his ability to find his way around the rules.

It's now online here.