Obama taps Tim Geithner As Treasury Secretary

Obama is about two weeks late on this one, and probably could have saved us from the last three legs of this plunge had he had enough sense to make the appointment earlier.

I think Obama made the right choice, albeit about 2 weeks late.

Tim Geithner has the credentials for this job.  He is the solid and pragmatic choice here.  Geithner was a U.S. Treasury Department official under both Bob Rubin and Larry Summers and has been with Treasury since 1988.  Geithner has helped current Treasury Secretary Hank Paulson and his team manage the ongoing Wall Street bailout so this isn't throwing an outsider into the most important role in government at the most important time.  We already see that his appointment is bringing some relief to the markets.

By contrast, Bill Richardson is a terrible choice for Secretary of Commerce, and Hillary will be a disaster as Secretary of State.

 

Jason Rodgers
Jason Rodgers: Jason Rodgers was an experienced research analyst for a major bank prior to retiring to run his own investment consultancy in beautiful Lihue, Hawaii. Jason contributed articles to BestCashCow from 2008 to 2014.

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