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Senate backs Geithner as Treasury secretary

Timothy Geithner, President Barack Obama's nominee for Treasury Secretary, makes a point during testimony in his confirmation hearing before the Senate Finance Committee on Capitol Hill in Washington, January 21, 2009. REUTERS/Brian Snyder

WASHINGTON (Reuters) - The Senate on Monday backed Timothy Geithner to be Treasury secretary, setting aside misgivings about his failure to pay some taxes in light of his experience battling the financial crisis.

Geithner, 47, was expected to be sworn in quickly to help lead President Barack Obama’s efforts to stabilize a worsening economy. In coming weeks, he is expected to unveil reforms to the United States’ $700 billion financial bailout program to provide more support for housing and credit markets, and possibly a new effort to absorb troubled assets from banks.

Reporting by David Lawder and Donna Smith; Editing by Neil Stempleman