Who ever would have guessed or could have seen this one coming? Well, besides me and Atrios, that is. It's not like Geithner hasn't been chummy with Wall Street for a while, ignoring the disaster around him during his years at the Fed. This isn't change we can believe in. It isn't even change.
In the end, Mr. Geithner largely prevailed in opposing tougher conditions on financial institutions that were sought by presidential aides, including David Axelrod, a senior adviser to the president, according to administration and Congressional officials.Call the White House.
Mr. Geithner, who will announce the broad outlines of the plan on Tuesday, successfully fought against more severe limits on executive pay for companies receiving government aid.
He resisted those who wanted to dictate how banks would spend their rescue money. And he prevailed over top administration aides who wanted to replace bank executives and wipe out shareholders at institutions receiving aid.
Because of the internal debate, some of the most contentious issues remain unresolved.
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