Portfolio’s profile of Timothy Geither reminds us that he is a lifelong bureaucrat, lacking the background in leadership that his position demands. Reading it brought to mind an exchange from yesterday’s TARP oversight hearing. Panel member Damon Silvers mistakenly thought that Geithner had once worked as an investment banker. “Never, actually,” Geithner said. “Spent my entire life in public service.”

A few minutes later, former Sen. John Sununu said, “Mr. Secretary, just for the record, I would never mistake you for an investment banker.”