Friday, March 06, 2009

More Signs of the Apocalypse

Once again, Krugman and I are of the same mind.

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.

Thursday, March 05, 2009

Amateur Hour at 1600 Pennsylvania Avenue

The nation is facing a severe economic crisis and the Treasury Department is still not staffed properly.  The markets are delivering a massive vote of no confidence in Geithner and he continues to function with a skeleton crew.  Today, Geithner's choice for his top deputy withdrew from consideration for the job.  The Obama Administration is far, far behind previous administrations in getting Cabinet members appointed and confirmed and getting key departments staffed and operated and it is preventing the proper functioning of those departments.  It is unclear why Obama is proving so inept at getting people into place, but Geithner is never going to regain the trust of the markets if he doesn't have access to a staff adequate to the task at hand.