Calling Geithner

October 8, 2009

Good work by the AP in getting a copy of Treasury Secretary’s Tim Geithner’s phone log, which shows that he was quite busy during the first-half of the year speaking to Wall Street bankers. These stories are fun reads and I recently did one based on FDIC Chairwoman Sheila Bair’s datebook.

To me, the most interesting thing to come out of the Geithner call list is the revelation that he spoke several times with both Citigroup Chairman Dick Parsons and Citi CEO Vikram Pandit. Now, given the dicey situation Citi is in, that’s not surprising. But compare this to Bair’s dealings with Citi–in which she all but kept Pandit at arms length this summer.

Bair’s datebook reveals that she dealt exclusively this summer with Parsons or other Citi board members. There’s no indication that Bair had any private talks with Pandit.  

This notably different treatment of Pandit is further proof of the icy relationship that exists between Bair and Pandit. And this is why it may be too early for Pandit to believe his job is secure–even if an outside consultant hired by Citi reportedly gave him high-marks as a manager.

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