Geithner says he is applying lessons from his five years at the most important of the Fed's reserve banks. This week, he assumed an even more prominent platform, joining President Obama in London at a meeting with the Group of 20 industrialized nations to discuss global financial regulatory reform.
Looking back at his time at the New York Fed, Geithner said: "I wish I had worked to change the framework, rather than to work within that framework."
That should make us feel at least a little better. Geithner realizes that the entire structure of the financial system was rotten. And, from the fairly radical regulatory reforms he has called for, I think we can see proof of that.
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