March 14, 2009
Or so says the Economist. The bottom line? A recovery in the fall and Obama is golden. No recovery and watch out.That, in fact, is the conclusion too of DemFrom CT on the Daily Kos.
March 13, 2009
As the G-20 discussions begin this weekend, it's worth noting, as this note does, that things are much worse in Europe than they are here. As someone who lived there recently, I can attest to the fact that the property bubble was far worse in much of the UK and other parts of Europe than it was here. And, as the note points out, while our banks may be too big to fail, many of theirs are so huge that they can't really be bailed out. One of the tough things about this crisis for President Obama is that with the whole world experiencing the same thing, what the U.S. does on its own to counter things doesn't count for all that much.
March 12, 2009
George Stephanopoulos is reporting that the latest insider reportedly slated to be a Deputy Treasury Secretary has now withdrawn in the final stages.
There's a story that when Thomas Eagleton left the Democratic ticket in 1972 and George McGovern was having trouble finding a candidate to replace him, someone put up a sign in a bathroom on Capitol Hill reading, "If you're interested in running for vice president, please call this number." We're getting to that stage now at Treasury.
Meanwhile, the number of critics grows.
March 12, 2009
It seems like an arcane debate. But . . . .
March 12, 2009
Yesterday it was Alan Greenspan's turn to say it wasn't his fault. And today, there is a terrific piece in the NY Times on how the culture is never going to get through this crisis (at least psychologically), until some people -- a lot of people -- start taking responsibility for all their bad decisions.
March 11, 2009
The new "Brain Trust."
March 10, 2009
The Beginner's Guide from Baseline Scenario.
March 10, 2009
Or so he says now, when Americans are angry that he partially went back on his LA contract. We'll see where that promise is in a few years. It's hard to see wha's in it for him.
An English team, on the other hand . . . .
March 09, 2009
That's the KC Fed President, not some wild-eyed blogger, Mr. Treasury Secretary.
March 07, 2009
The esteemed Henry Blodgett joins the chorus: Geithner must go.
March 07, 2009
Talking Points memo agrees: The stimulus was way too small. And going back for more is going to be extremely tricky politically.
March 06, 2009
"Can "Government Sachs" fix the economy?" asks Newsweek's Michael Hirsh. Only if you think that the people who created the mess are the best ones to fix it. And only if you think that these guys have the guts to tell their friends that the game is up.
March 06, 2009
The answer is yes.
March 06, 2009
We've been chronicling the travails of Tim Geithner and the fact that the press has now got a story line -- Geithner isn't cutting it.
Here's today's latest, courtesy of the Washington Post: "Understaffed Geithner Can't Keep Up."
March 05, 2009
Now there's two more withdrawing from consideration for posts in the Obama administation -- Sanjay Gupta will not be becoming Surgeon General (he was never actually appointed though the post was said to be his) and perhaps more important, the beleaguered Tim Geithner has lost his top deputy choice, Annette Nazareth, who also withdrew.
Maybe it's all because of the administration's more rigorous vetting and determination to keep out those with lobbying ties -- good things both. But once the media has a story line it doesn't drop it easily and the Obama story line here is increasingly an administration having trouble getting off the ground. Particularly as that affects Geither -- who needs to engender confidence -- that's not a good thing.
