As Treasury secretary, Timothy Geithner oversaw the bailouts of the country’s biggest banks, brought down by hundreds of billions of mortgage securities the lenders had bought to boost profit.
As he starts his own career on Wall Street next year, Geithner chose a buyout firm, New York-based Warburg Pincus LLC. He joins former government officials such as David Petraeus and John Snow in entering a career in private equity, where top-ranked executives typically receive higher pay than in government and companies seek to draw on their relationships and experience to find new business.
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