S/SW blog philosophy -

I credit favorite writers and public opinion makers.

A lifelong Democrat, my comments on Congress, the judiciary and the presidency are regular features.

My observations and commentary are on people and events in politics that affect the USA or the rest of the world, and stand for the interests of peace, security and justice.

Wednesday, January 13, 2010

Who Will Succeed Tim Geithner as Next Treasury Secretary? - The Washington Note

Who Will Succeed Tim Geithner as Next Treasury Secretary?

geithner obama.jpgOpinions are mixed on whether will hold his position as Secretary of the Treasury much longer. While I have always liked Geithner personally (he's an old Asia hand), his leadership in the eyes of many is uncompelling.

The recent revelations that staff members of his at the New York Fed advised AIG to hide material matters from regulators may be the final trigger leading to his departure. . .

We now have a high stock market but disturbingly job openings today are 50% lower than in 2007. . . Obama is late to the cause, and future results are in doubt.

To convince American voters and working families he is serious about job creation and more sensible economic policies than he has thus far pursued, he can't keep Lawrence Summers, Romer, Geithner, and the overwhelmingly neoliberal members of his White House econ team. . .

Jared Bernstein, chief economist to Vice President Joe Biden, is practically the only one with any serious background in infrastructure and jobs-focused economic policy.

So Obama needs to change the team. . .

I have some good and interesting names -- but I'd like to hear from all of you.

Who should be America's next Treasury Secretary?

-- Steve Clemons

Steve Clemons is one of the first bloggers I started reading -- way back in 2005, I think.
I believe he is feeling the pulse of the country with this one. The current economic team, no matter how hard they try, will continue to look at the economy through the prism of Wall Street. They cannot help themselves.

That bias leaves too many millions jobless and too many small business owners "loan-less." President Obama must maintain his jobs-jobs-jobs focus or we face the distinct possibility of a second recession hard on the heels of this nascent recovery.

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