Ex T-man Geithner cashing in on Wall Street

By:  Darrell Delamaide

WASHINGTON – Timothy Geithner is finally cashing in.

After an appropriate stint at a think tank to write his memoir and a quiet transition to Wall Street, President Obama’s first Treasury secretary, who left office in 2013, is now ready to make millions thanks to help from a big bank he used to regulate.

Bloomberg News this week disclosed that Geithner has gotten a line of credit from JPMorgan Chase, the nation’s biggest bank, to invest in a new $12 billion fund at the private equity firm where he works, Warburg Pincus.

The filing with the New York Department of State does not give the amount of the line of credit or the terms, but according to Bloomberg, Warburg Pincus executives are signing up for a total $800 million and Geithner, as a top officer, is probably getting a sizable chunk of that.

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