I think it is high time that Obama got rid of Geithner. He has lost all credibility and is rapidly becoming a liability. The markets are not reacting to things that happened under Bush. Obama is providing no clear view of what he plans to do about the financial crisis and that is panicking investors. Geithner is making it worse with his dithering. And the Obama budgets are offering eye-popping deficits and debt.
This needs to be addressed immediately.
3 comments:
Is that the general feeling you're getting from invenstors you talk to daily?
Yes. A few weeks ago, there was more of a mix of people who felt that this was still hangover from 2008, but Geithner's horrid debut, the continuing lack of direction from Treasury or Obama and the frightening budget have converted almost everybody I talk to regularly. There is a sense that Obama sees the financial crisis as a distraction to his agenda and the lack of coordinated response is being caused by that.
And I certainly can't find anybody who doesn't think that the growth projections Obama uses to reduce the deficits in his projected budget are total fantasy, especially when he is proposing a raft of new taxes in the middle of recession.
Time for an Obama-financial crisis update! Markets are down, Coachella is over, and the country needs a new post!
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