8/7/11
WBBM Newsradio 78 (our local CBS affiliate) reported on its 3:30 news this afternoon that Tim Geithner has pledged to stay on as Treasury Secretary. According to the report, President Obama “put the arm” on Mr. Geithner and said “Hey, buddy, I need you” during these turbulent financial times.
In yesterday’s post (MR. MARKET, THE RATING AGENCIES, AND MORE, 8/6/11) I argued that one of the problems with which the markets must deal is “a dearth of grown-ups in positions of power.” Nothing could reinforce that point more effectively than Barack Obama's considering Tim Geithner to be the Indispensable Man.
O tempora, o mores!
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