Muckety mover - Timothy Geithner

The last time Treasury Secretary Timothy Geithner announced a bailout plan, the Dow Jones Industrial Average dropped like a rock.

The earlier plan was ripped for its vagueness, and Geithner, for being ill at ease. On Monday, though, after he unveiled a $1 trillion plan to buy up so-called toxic assets, the market rocketed up almost 500 points.

The White House has warned against reading too much into the market’s daily gyrations; still, the surge must have been comforting to Geithner, who has come under heavy criticism for missteps.

The plan, while not uniformly praised, got an early endorsement from The Financial Services Roundtable, a trade group for the nation’s largest financial institutions. Just as significantly, Geithner handled reporters’ questions with the confidence of a battle-hardened veteran.

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