Geithner on the Outs?

The White House may have stuck Treasury Secretary Tim Geithner on the end of the bench as President Obama orders Paul Volcker into the game. With Volcker at his side Thursday, Obama introduced major restrictions on banks, branding the measures the "Volcker Rule." Volcker, a former chairman of the Federal Reserve, is also expected to take a more-important role in Congress, where he'll round up support for Obama's financial-reform agenda. Some observers see Volcker as key to rehabilitating Obama's image after Geithner became negatively associated with bailouts and CEO bonuses. The banking industry was less enthusiastic. "[Geithner's] influence may have slipped," a senior banking-industry official told the Washington Post. "But you could also argue that it wasn't Geithner who lost power. It's just that the president needed Volcker politically" to appear more populist on finance.