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Thread: Geithner for Treasury - Well done, well timed.

  1. #1
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    Geithner for Treasury - Well done, well timed.

    Obama to announce it Monday. NY Federal Reserve President to be named new Treasury Secretary. On first blush I think Obama got this one right....and he needed to. Good timing as well. This market was suffering from silence and a leadership vacuum. Bush is on his way out and can't do anything, Obama isn't in yet. The announcement takes away some uncertainty in the markets. Smooth transition to a young, smart, experienced guy. He's not perfect and I'm not sure of the role he played in the decision on letting Lehman fail but again, on first look it seems like a very good pick to me.
    Last edited by jetstream23; 11-21-2008 at 04:11 PM.

  2. #2
    [QUOTE=jetstream23;2873599]Obama to announce it Monday. NY Federal Reserve President to be named new Treasury Secretary. On first blush I think Obama got this one right....and he needed to. Good timing as well. This market was suffering from silence and a leadership vacuum. Bush is on his way out and can't do anything, Obama isn't in yet. The announcement takes away some uncertainty in the markets. Smooth transition to a young, smart, experienced guy. He's not perfect and I'm not sure of the role he played in the decision on letting Lehman fail but again, on first look it seems like a very good pick to me.[/QUOTE]

    Didn't the NY Fed recently hire one of the losers from a failed bank to be in charge of making sure their assets were safe?

  3. #3
    I'm no wizard when it comes to monetary policy, but I like this pick better than Larry Summers, who was said to be the other candidate. Young, fresh faced guy who has been in the mix during these last few months.

    Summers would be a bit of a retread pick, and he has some well known personality issues that could have been an obstacle in a position that is increasingly about coordinating with other governments and many industries.

    I like it.

    A few other names today:

    -) Bill Richardson is said to be the pick for commerce.

    -) Ret. Adm. James Jones is apparently going to be national security adviser.

  4. #4
    it's nice to have leadership that makes good decisions. Maybe that was the change everyone was talking about.

  5. #5
    [QUOTE=bitonti;2873701]it's nice to have leadership that makes good decisions. Maybe that was the change everyone was talking about.[/QUOTE]

    :yes:

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