I have just finished listening to Fox pundits extoll the virtues of Timothy F. Geithner…President of The Fed in New York, where Wall Street is situated…applauding ostensible Man Of Change PEBO’s appointment of another familiar face, this time to the coveted post of Secretary of the Treasury.
I heard, “He KNOWS crises…he was THERE for the Asian crisis.”
I heard, “He’s been at the heart of this whole thing from the start.”
I heard, “He is Henry Paulson’s protege.”
I would ask the obvious question…how does any of that inspire confidence?
I refer to my post of October 10th at PeaceandCarats.com:
A Confidence Crisis, Not A Credit Crisis.