By Brad on Jan 31, 2009 in America, Economy, Federal Government, Obama Administration, The President, Worth Considering | comments(0)
In his weekly address, President Barack Obama announced that Treasury Secretary Timothy Geithner is preparing a new strategy for reviving our financial system, and urged the swift passage of an American Recovery and Reinvestment Plan.
By Brad on Jan 15, 2009 in Bush Administration, Obama Administration, Satire, Sights and Sounds, The President | comments(0)
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By Brad on Jan 15, 2009 in Congress, Economy, Federal Government, Obama Administration | comments(0)
An interesting story from the New York Times about the controversy over Obama’s nominee for Treasury secretary:
If Timothy F. Geithner were a bank, he might well be considered “too big to fail.”
In better economic times, Mr. Geithner’s confirmation to be President-elect Barack Obama’s Treasury secretary might be in danger after the disclosure this week that he had paid more than $48,000 in delinquent taxes and interest. But with the economy so fragile, many senators are loath to rattle financial markets by rejecting someone with Mr. Geithner’s qualifications and international respect. By late Wednesday, Republicans as well as Democrats were predicting he would survive the controversy and be confirmed next week.
Mr. Geithner has broad experience in global economics, financial regulation, currency and monetary policy. And lately, as president of the Federal Reserve Bank of New York, he has been at the center of the government’s efforts to manage the financial chaos, sharing some criticism for its mixed record but not blame.
“These are not the times to think in small political terms,” said Senator Lindsey Graham, Republican of South Carolina, who just returned from Afghanistan and Pakistan with Vice President-elect Joseph R. Biden Jr., and briefly met with reporters on Wednesday alongside Mr. Obama. “I think he is the right guy.” [continue reading]
