Obama backs Treasury Secretary
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Barack Obama has come to the defence of his Treasury Secretary saying he would not accept his resignation even if it was tendered.
Geithner is expected to unveil his much-anticipated bank bailout plan and flesh out the Obama administration's proposals for financial regulatory reform when he appears before the House of Representatives Financial Services Committee next week.
He has been under fire over his failure to block at least £115 million, and possibly as much as £160 million, in bonuses paid out to employees of insurer American International Group, which has received billions in government aid.
And with public outrage over the AIG bonus scandal mounting, Obama was forced this week to repeatedly defend his treasury secretary.
Despite Obama's support, the odds on whether Geithner will leave by the end of June continue to increase.
He said this week he took full responsibility for the controversy surrounding the AIG bonuses and dismissed calls for his resignation, saying it 'just comes with the job.'
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