Bush is incompetent to use him now, but when Obama uses him it'll be competence?
On Mon, Nov 24, 2008 at 3:03 PM, Gruss Gott <[EMAIL PROTECTED]> wrote: > SPEAKING of The Economist, our official assessment of Barack Obama's > Treasury secretary nominee, New York Fed president Timothy Geithner, > is up: > > Assuming he is nominated Mr Geithner brings two crucial qualities. > First, he represents continuity. From the first days of the crisis > last year, he has worked hand in glove with Ben Bernanke, the Fed > chairman, and Mr Paulson. He can continue to do so while awaiting > confirmation. If Citigroup, for example, needs federal help, Mr > Geithner will be involved. An unknown when he joined the New York Fed > in 2003, he is now a familiar face to the most senior executives on > Wall Street and to central bankers and finance ministers overseas. > > Second, he represents competence. He has spent more time on > financial crises, from Mexico and Thailand to Brazil and Argentina, > than probably any other policymaker in office today. Mr Geithner > understands better than almost anyone that in crises you throw out the > forecast and focus on avoiding low probability events with > catastrophic consequences. Such judgments are excruciating: do too > little, and you undermine confidence and generate a bigger crisis that > needs even bigger policy action. Do too much, and you look panicked > and invite blowback from Wall Street, Congress and the press. At times > during the crisis Mr Geithner would counsel Mr Bernanke on the > importance of the right "ratio of drama to effectiveness". > > Ah, glorious, glorious competence. How we've missed you. > > http://www.economist.com/blogs/freeexchange/2008/11/meet_mr_geithner.cfm ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:281400 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
