Capital Commerce

Timothy Geithner: Obama Treasury Secretary

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Posted: November 21, 2008

It looks like New York Federal Reserve Bank President Timothy Geithner is our next Treasury secretary. A few quick thoughts:

1) He has the edge of being from Wall Street and understanding that world without being of Wall Street and having his hands "dirty" from the subprime crisis.

2) CNBC's Jim Cramer won't be happy, having called for a Senate investigation of Geithner because he supposedly was the prime factor behind the decision to let Lehman die. ("I think Geithner is one of the key architects of what went wrong here," Cramer said.) I am sure the Senate Republicans will be happy to make that dream come true with some very tough questioning.

3) Assuming Geithner is confirmed, his main job would presumably credit be as Credit Crisis Czar, leaving other key aspects of economic policy up to the White House.

4) He is not an economist.

More to come ...

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Let die?

Lehman died because it committed suicide, don't blame Geithner for burying the turkey.

William Gnoss of CA @ Nov 22, 2008 14:36:55 PM

Timothy Geithner

Remember the lyrics from The Who: "Meet the new boss, same as the old boss"?? Well here he comes.

Eric of NY @ Nov 21, 2008 18:42:25 PM

Another NAFTA shafta Free-Trader

We've seen this horror movie before, and this is where we are economically because of these type of financial neocons from Wall Street.
We need oversight, not another Paulson hack to raid the Treasury on behalf of criminal CEOs for bailouts.
Sen. Baucus, Chairman of the Senate Finance Committee would restore confidence that they'll be honest oversight at Treasury and no nonsense.

JC of CA @ Nov 21, 2008 18:33:33 PM

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