Tim Geithner was confirmed by the Senate yesterday as Treasury Secretary. I, for one, am still disconcerted by the “Geithner Bounce” that we saw back in late November last year. Geithner was announced as President-elect Obama’s pick for Treasurer at on November 21, 2008. See if you can pinpoint the moment he was annouced:
One thing is clear to me – somebody out there really, really likes Tim. From a fresh 52-week low shortly after 11 a.m. (which is still holding for the moment), the Dow shot up over 1400 points in a week. Wow.