What Geithner Got Right

[midcan5]

OP from a conservative thinker.

By David Brooks

"It’s amazing to go back and read what people were saying about Timothy Geithner in the spring. Many people said he looked terrified as the Treasury secretary, like Bambi in the headlights. The New Republic ran an essay called “The Geithner Disaster.” Portfolio magazine ran a brutal, zeitgeist-capturing profile that concluded by comparing Geithner to Robert Redford’s hollow man character in “The Candidate.”"

http://www.nytimes.com/2009/11/20/opinion/20brooks.html

 

[Neubarth]

This I know, Geitner did the correct things to stop the financial panic.


Unfortunately he has not assisted this administration in formulating an economic policy that would put people back to work. Since 70 percent of our economy is a service sector economy, that putting people back to work is key to recovery.

No Back To Work = No Recovery.

We are presently collapsing into a Depression the likes of which the World has never seen.

The United States has been sadly remiss in the past year in not putting people back to work. We need a CCC type program that we may have to fund for all eternity. Thank God money is free.

 

[midcan5]

Neubarth, I sometimes think the market is driven by psychology and hasn't a thing to do with economics. A friend, who has since retired, and I watched the internet bubble closely and marveled at stock sales on going public, then the obvious occurred. Same with real estate. What to make of this. Good news makes crazy people, bad news makes crazy people. We are in the bad now.

I found this piece fascinating, "Devdutt Pattanaik looks at business and modern life through the lens of mythology." Devdutt Pattanaik: East vs. West -- the myths that mystify | Video on TED.com

 

[Paulie]

Geithner hasn't gotten anything "right" yet. We've yet to see how all this excess liquidity is handled.

When I see the Fed exit from these facilities with little to no inflation, we'll talk.