Yesterday's press conference heralded the end of Tim Geithner's influence in Washington, DC. He's been rendered inert when it comes to policy-making. Unless something changes, he will find himself in the frustrating position of holding high office but being unable to influence bureaucrats or lawmakers.

At least until November. When he'll be fired.

This afternoon, we stopped by CNBC's "The Call" to explain all of this to Melissa Francis, Larry Kudlow, and the gang.