Nov 22nd 2008 | WASHINGTON, DC From Economist.com STOCKMARKETS soared on Friday November 21st when investors learned that Barack Obama would nominate Timothy Geithner as his Treasury Secretary. That might seem odd. The Federal Reserve Bank of New York president was already a favourite for the post. And he brings no magical solution to the … More “Mr. Obama is assembling a formidable economic team.”
Nov 22nd 2008 | WASHINGTON, DC From Economist.com STOCKMARKETS soared on Friday November 21st when investors learned that Barack Obama would nominate Timothy Geithner as his Treasury Secretary. That might seem odd. The Federal Reserve Bank of New York president was already a favourite for the post. And he brings no magical solution to the … More "Mr. Obama is assembling a formidable economic team."
Back in 2006, while most of the financial establishment was pooh-poohing the possibility that the global economy was at any risk from a systemic shock, Geithner was actively warning that unregulated derivatives posed a threat to financial market stability. … Before the storm fully broke, Geithner made heroic efforts to get Wall Street’s biggest financial … More Why Geithner? Because he has foresight.
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