Yesterday, Obama announced his economic team. Timothy Geithner (President of the New York Reserve Bank) has been nominated as Treasury Secretary, Lawrence Summers (former Secretary of Treasury for the Clinton administration) as Director of the National Economic Council, Christina Romer (a Berkeley economics professor) as Chair of the Council of Economic Advisors, and former aide to Senator Edward Kennedy and Executive Vice President for Policy for the Centre for American Progress, Melody Barnes as Director of the Domestic Policy Council (more info on Barnes here).
The Huffington Post have assembled some initial reactions, from the Economist, American Prospect, Open Left and others. Their 'Big News' page on the economic team is here, I imagine there will be more comment later. The Nation's national affairs correspondent, William Greider, has a response to the announcement here.
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1 comment:
With the Treasury Secretary on his spending spree he surely isn’t trying to get a good return on the tax payers’ investment. The bailout was to buy up bad mortgage debt but it never did. What is the purpose of the fund? Paulson’s has warrants on many banks and they average 1 – 3 percent when enacted. Yet the cash investment is about 20 percent of the market cap. Maybe the next Treasury Secretary will be less erratic.
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