The New York Times
January 21, 2009

Timothy F. Geithner, President Obama’s nominee to be Treasury secretary, is testifying before the Senate Finance Committee at his confirmation hearing on Wednesday.

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As president of the New York Federal Reserve since 2003, Mr. Geithner has been a central player in building the vast bailout plans that the government has extended to Wall Street firms and other troubled financial institutions, such as the giant insurer American International Group. After his nomination, it was disclosed that Mr. Geithner failed to pay more than $34,000 in taxes for Social Security and Medicare when he was a senior official at the International Monetary Fund from 2001 to 2003, including a small payment in 2004 after he left.

The Senate Finance Committee hearing began at 10 a.m. in Washington, with opening statements from Senator Max Baucus, the committee chairman, and Senator Chuck Grassley, the ranking Republican.

DealBook is live-blogging the hearing, with the most recent posts on top.

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