New York Federal Reserve Bank President Timothy Geithner won confirmation Monday as President Barack Obama's treasury secretary despite personal tax lapses that turned more than a third of the Senate against him.
"Tim's work and the work of the entire Treasury Department must begin at once. We cannot lose a day, because every day the economic picture is darkening, here and across the globe," Obama told the audience before Geithner was sworn into office by Vice President Joe Biden.
The Senate voted 60-34 to put Geithner in charge of the administration's economic team as it races to halt the worst financial slide in generations. The swearing-in followed less than an hour later, the administration seeking to emphasize that it was wasting no time in trying to address the financial crisis.