Senate Delays Hearing on Geithner

The incoming administration's attempt to fast-track Tim Geithner's confirmation hearing has failed in the wake of trouble with his personal finances, and the session will now take place on Jan. 21, the New York Times reports. The delay of the Senate hearing until after the Inauguration, motivated by Republican lawmakers' concerns about the nominee, means the Treasury Department will be without a secretary as Barack Obama takes office.

"It's serious, and whether or not it's disqualifying is to be determined," Iowa Republican Chuck Grassley told the Wall Street Journal after a closed-door meeting yesterday between Geithner and members of the Senate Finance Committee.
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