Geithner planning to leave?

June 30, 2011, 11:48 PM UTC

Well, maybe we now know why Tim Geithner has been so insistent on getting a debt deal done by August 2 (outside of default and ensuing financial calamity, that is).

The following tweet just came from @BloombergNews

There obviously is a lot of wiggle room in those 61 characters, but let the guessing game begin on his successor. Wouldn’t be surprised to see Obama’s nominee come from the private sector. Altman? Dimon? Hutchins? Sandberg, Schmidt? Gallogly? On the other hand, it’s hard to imagine anyone Obama nominates get through the process very smoothly. Or at all before the 2012 elections…

More from Bloomberg:

Geithner, 49, has told associates that he needs a break from government service after dealing with the turmoil that followed the collapse of Wall Street firms including Bear Stearns Cos. and Lehman Brothers Holdings Inc., first as president of the Federal Reserve Bank of New York and then as Obama’s treasury secretary.

Family considerations also are playing a role in Geithner’s deliberations, according to the people. His son has decided to finish his final year of high school in New York.

Update: Geithner has just said that he plans to remain in the job “for the foreseeable future.”