Senator Hagan On Geithner Confirmation

Press Release

U.S. Senator Kay R. Hagan (D-N.C.) issued the following statement after the U.S. Senate confirmed Timothy Geithner to lead the U.S. Treasury Department with a 60-34 vote:

"I have said that it is too important in these tenuous economic times to hold up this critical appointment for a serious, but honest, mistake. I am disappointed that Mr. Geithner made this mistake, but he has taken responsibility for it, paid his back taxes, and with overwhelming support from the Finance Committee, and the U.S. Senate, I am pleased that this evening, he became our country's new Treasury Secretary.

"Particularly with regards to North Carolina manufacturers, I was pleased with Mr. Geithner's hard line on Chinese currency, saying he believes, as does President Obama, that China is manipulating its currency, adding to the massive trade deficit we already have with them. We need someone directing the Treasury Department who comes to the position with a good deal of on-the-job experience and expertise. He has the benefit of seeing, first-hand, what worked and what did not, during the past year. Mr. Geithner, in his testimony to the Senate Finance Committee, pledged this: "Our test is to act with the strength, speed and care necessary to get our economy back on track and to restore America's faith in our economic future." That's exactly what I believe is necessary, as well, and I look forward to working with him in the future."

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