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Author Topic: Treasury chief is Obama’s first test  (Read 2002 times)

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Offline Chris

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Treasury chief is Obama’s first test
« on: November 06, 2008, 07:29:50 PM »
Treasury chief is Obama’s first test
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Barack Obama will face his first brutal test of how well he is managing his 10-week White House transition period when the stock market reacts to his announcement of the next Treasury secretary – possibly as soon as Thursday.

Obama insiders say they know the appointment – which appears to have narrowed down to a choice between Larry Summers, the former Clinton Treasury secretary, and Timothy Geithner, the chairman of the New York Fed – will be disproportionately critical in setting the tone for how well the remainder of the transition plays out.

The choice, which could yet fall on a “dark horse”, such as Paul Volcker, the 81-year-old former Fed chairman, or even Jon Corzine, the former Goldman Sachs chief who is now governor of New Jersey, will also be minutely analysed for signs of the types of people Mr Obama will put into other posts.

Yep.  Lotsa change coming. 
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Offline SSG Snuggle Bunny

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Re: Treasury chief is Obama’s first test
« Reply #1 on: November 06, 2008, 08:02:53 PM »
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Offline Jim

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Re: Treasury chief is Obama’s first test
« Reply #2 on: November 06, 2008, 08:04:47 PM »
most critical choice he's got.  and it won't take long to see how the markets feel about it.
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What's the difference between Sarah Palin and Barack Obama?

One is a well turned-out, good-looking, and let's be honest, pretty sexy piece of eye-candy.

The other kills her own food.

Offline Chris_

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Re: Treasury chief is Obama’s first test
« Reply #3 on: November 06, 2008, 08:06:00 PM »
Quote from: Jim on November 06, 2008, 08:04:47 PM
most critical choice he's got.  and it won't take long to see how the markets feel about it.

Their thrill with the fuhrer has been shown over the last 2 days.

I predict the DJIA at 5K before January.
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Offline RightCoast

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Re: Treasury chief is Obama’s first test
« Reply #4 on: November 06, 2008, 08:13:23 PM »
He might as well bring back Greenspan and finish us off early, seriously why drag this out any more than it needs to???
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Offline Chris

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Re: Treasury chief is Obama’s first test
« Reply #5 on: November 06, 2008, 11:12:21 PM »
Larry Summers: "Africa is under-polluted"  (HuffPo warning).  By the way, that is the same Larry Summers that got chased out of Harvard for his comments about women and science (fwiw). 

You'll also see an idiotic link on the main HuffPo page about Sarah Palin referring to Africa as a "country".  But it's not like she asked some paralyzed man in a wheelchair to stand up and take a bow or anyting.  Or said that it's patriotic to pay more than a third of your income to the government (your income, not his.  you peon).
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Offline Chris

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Re: Treasury chief is Obama’s first test
« Reply #6 on: November 09, 2008, 08:14:19 PM »
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Offline Black Swan

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Re: Treasury chief is Obama’s first test
« Reply #7 on: November 10, 2008, 02:27:09 PM »
Wasn't it the Obama people that after McCain named Phil Gramm as his chief financial advisor, that claimed that Gramm Was 'Principal Author' Of The 1999 Gramm-Leach-Bliley Act?  Well, lookie here:

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FROM THE OFFICE OF PUBLIC AFFAIRS

November 12, 1999
LS-241


STATEMENT BY PRESIDENT BILL CLINTON AT THE SIGNING OF THE FINANCIAL MODERNIZATION BILL


SEC. SUMMERS: Let me welcome you all here today for the signing of this historic legislation. With this bill, the American financial system takes a major step forward towards the 21st century, one that will benefit American consumers, business, and the national economy for many years to come. This is the culmination of years of effort by many, many people, reflects the work of presidents, Treasury officials, members of Congress, those in the private sector, from both parties, and dedicated professionals, both inside and outside the government. With their help, I believe we have all found the right framework for America's future financial system.

 

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PRESIDENT CLINTON: (Applause.) Thank you very much. Thank you. Thank you. Thank you, and good afternoon. I thank you all for coming to the formal ratification of a truly historic event. Senator Gramm and Senator Sarbanes have actually agreed on an important issue. (Laughter.) I -- MR. PODESTA (?): But I'm sitting in between them. (Laughter.)

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PRESIDENT CLINTON: . . . Like all those before me, I want to express my gratitude to those principally responsible for the success of this legislation. I thank Secretary Summers and the entire team at Treasury, . . .

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But I do want to thank all the members here and all those who aren't here and I'd like to thank two New Yorkers who aren't here who have been mentioned -- former Secretary of the Treasury Bob Rubin, who worked very hard on this, and former chairman, Senator Al D'Amato, who talked to me about this often.

U.S. Treasury Press Releases

Change we can believe in.   :rotf:
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