> -----Original Message----- > From: Sam [mailto:[email protected]] > Sent: Thursday, January 22, 2009 6:18 PM > To: cf-community > Subject: Re: Geithner > > Hasn't he been leading all the bailouts already? > Wasn't he watching the banks in NY when the shit hit the fan? > > I don't get why people think he's the only one that can fix this. I > think they should try someone else. >
He was head of NY Fed during the crisis. The biggest criticism leveled against him is he (and others) let Lehman collapse. My guess is that the criticism the NY Fed and Volker received for bailing out LTCM was still fresh on their minds. Experts think he and Bernanke are ppl best equipped to handle the credit crunch. This is because Bernanke is considered the single greatest expert on the Great Depression. Supposedly, he knows all the nuances of why the Great Depression happened. This will allow him not only avoid another Great Depression but also soften the landing. I personally know less about Geithner. I think he cut his teeth abroad. I also read that he not given enough credit for being a top notch economist because his social skills, supposedly, are off the charts. He is supposed to be one of the few men that can get all the bulge brackets into a room and get consensus. And for better or worse, we all know the bulge brackets are the spokes in this wheel of trouble. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| 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:286337 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
