Wednesday, June 10, 2009

Talking his Book

Tim Geithner is a real team player. Kind of like John Chambers at Cisco. He took some time out of his busy schedule yesterday to cheer the global economy ahead of the upcoming G8 meeting. Either that or he really believes that we're out of the woods.

"Tim Geithner on Tuesday identified “encouraging signs” in the US economy and a better outlook internationally, adding there would be a reduced role for a key US programme to stimulate the market for toxic assets and loans."

That was a quick full circle. We've gone from Fed and Treasury assuring us that everything was OK when it was falling apart, to now TG claiming that all is looking OK despite the fact that many people don't believe. The only time we had consensus was around the Lehman collapse, when everybody was sure that the financial world as we knew it was going to end.


According to the WSJ today, Obama's plans to limit Wall Street pay continue to get watered down. Good. Let's let the market take care of it. It wasn't going to work anyway.

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