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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (117588)	1/22/2009 7:09:33 PM
From: GuinnessGuy	1 Recommendation Read Replies (1) \| Respond to of 132070

Hi Mike, Thanks for the reply - "So, clean up and clean out this cess pool of worthless debt instruments and let the chips fall where they may. A couple of the national giants will probably survive. The CEOs may be riding around in Boston Whalers instead of yachts, but a Whaler is a lot of fun." I think the nomination of Geithner is the kiss of death for Washington doing anything like what the author and you suggest. Geithner is a political guy, totally. He's not even a trained economist, although I guess that isn't necessarily bad. What I think the powers-that-be are going to do is make sure that the big boys survive. Too many campaign contributions, too much schmoozing on the hill for the politicians to do the equivalent of biting the hand that has been feeding them, IMO. Of course, by having that opinion I'm strongly implying that - unlike what Obama has promised - it will be business as usual in Washington. Had he been willing to stand up to the big boys on the street, he would have nominated someone like Sheila Bair. In fact, I'm surprised he didn't. Maybe he hasn't had time to get his head around the whole mess. I've heard he's been kinda busy the last year or so. <G> craig