Treasury Secretary Geithner is set to speak to a Wall Street audience later this afternoon. He is expected to try and accomplish two difficult goals.
First, he will try and get Wall Street to stop hatin’ on his boss. That’s a tough goal, as his boss has tossed the Street under the bus and backed over them time and time again.
His second goal is to get banks ahead of the regulatory curve by self-regulating passed excesses (fees, executive comp, risk) while the government bureaucracy fills in the blanks from the just-passed FinReg bill.
The speech is set for 21:00 GMT, about 90 minutes from now. Geithner rarely moves markets; I doubt he will today.
