|
|
Posted November 25, 2008
by
|
Saline, Michigan
![]() |
This iReport is part of an assignment:
Obama's cabinet |
Obama appointments
I got a little flippant yesterday about a recent Cabinet appointee, but I believe the ability to work in unison without infighting is key to the ability to administer change quickly. I am not convinced that Larry Summers is part of the change we need, but will pray that he plays like a grown up. I did find some good stuff about other appointees though, especially this speech by the next Treasury Secretary:
"Change and Challenges Facing the U.S. Financial System"
Remarks by Timothy F. Geithner, President and Chief Executive Officer, Federal Reserve Bank of New York, before the New York Bankers Association's Annual Financial Services Forum, March 26, 2004
You can google it, or read it at the following site:You can find more at: http://search.newyorkfed.org/search/frbny.jsp?querybox=TimothyF.Geithner&search_submit.x=28&search_submit.y=12
Reading through his speeches at this site, I am vastly reassured that Geithner knows exactly what is wrong with our current financial systems and has some ideas to remedy the current crisis. They may be like swallowing Castor Oil though.
The Obama staff also announced Peter Orszag as Office of Management and Budget Director. He's a little green but has a hefty intellect - without as much real world experience as the others. I'll take a wait and see approach to him. The following is an exerpt from the blog he ran as Director of Congressional Budget Office. It speaks to his belief (read in other posts) that we need reform of the Health Care system.
"Although it may not seem immediately relevant given our current difficulties, it will be crucial to address the nation’s looming fiscal gap — which is driven primarily by rising health care costs — as the economy eventually recovers from this current downturn. Indeed, our ability to address our current economic difficulties (through both financial market interventions and potential additional fiscal stimulus) would be severely impaired if investors were not so willing to invest substantial sums in Treasury securities without charging much higher interest rates. That willingness reflects the (currently accurate) view among investors that Treasury securities are extremely safe investments."
- TAGS:
- obama_administration
- GROUPS:
What do you think of this story?
iReport welcomes a lively discussion, so comments on iReports are not pre-screened before they post. See the iReport community guidelines for details about content that is not welcome on iReport.




Comments