I was lucky to sit in on the AIG hearings this morning. At first, my expectations about Geithner were low. However, I am pleased to say that he impressed me. Both he and Bernanke were thrown some tough questions, but that was to be expected. Geithner is very literate and clear-spoken, making it easier to listen to, than many super smart economists. I think that I judged Geithner too harshly earlier on this blog and in my discussions. As Katie mentioned on one of my blogs, Geithner has been given a huge plate of problems to resolve. I look forward to listening to Geithner again on Thursday when he plans to set out the plans for regulation and oversight of banks in the future as well as making the American people more trustworthy of banks and their management.
6 comments:
Ah! Very cool. As my internship is at a place that is shielded from worrying about the current economic situation, I'm not exposed to talks about Geithner's performance, AIG, etc.
I understand that Geithner has been given a huge plate of problems - what did he say during the meeting that changed your mind on his abilities? Do his plans make sense, or do you think he's taking a step in the wrong direction? It's true that it is too early to judge him, but I think we have little room for mistakes now. Paying close attention, scrutinizing and debating his every action is unfortunately productive and necessary.
I personally don't think being easy to listen to should be qualification enough for Treasury Secretary. However, I agree that he has given a crappy hand. BUT, I refuse to support all these financial rescue plans simply because nationalizing the banks makes SO MUCH MORE SENSE. It has been done in the past (1980s Savings & Loans fiasco, collapse of freight rail system, etc) and should be done now. Let's stop beating around the bush simply for ideology's sake.
Hitler nationalized banks.
First person to mention Hitler in a debate loses. Period.
First person to say nationalizing US banks loses. So you lost before I lost. boom!
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