The Financial Industry Gives Timothy Geithner Some Credit

Earlier this week, Bloomberg reported that former Treasury Secretary Timothy Geithner secured a line of credit from JPMorgan Chase, one of the too-big-to-fail recipients of bailout cash. Geithner is looking to buy in to a new $12 billion fund at Warburg Pincus, the private equity firm where he now works. He reportedly stands to make a 20-30% return on the investment. Although he is not required to disclose the size or purpose of the credit line, a source told Bloomberg that Geithner was among several staff members to borrow money to invest in the fund. So JPMorgan Chase, one of…