Capital Commerce

Treasury Secretary Volcker and Geithner?

Comment

Posted: November 6, 2008

I hear that Barack Obama may pick former Federal Reserve Chairman Paul Volcker, 81, to temporarily run the Treasury Department. Tim Geithner, who as NY Fed president has been playing a key role in the government's response to the credit crisis, would take over later in 2009. More and more it looks like Larry Summers should have kept to himself his opinions about the math and science abilities of women.

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Perfect Team

This would be the perfect team for the current crisis. Volcker is a man Democrats, Republicans, and the world respects and has a record of doing painful things for the good of the long term result. I recall reading that Tim Geithner's original expertise was in international economics and more speficially Asian markets. This would be a pheonomical foil to Bernake, and what I feel is an ever approaching liquidity trap similar to Japan's experience.

Dan of PA @ Nov 06, 2008 11:04:10 AM