Obama names his economic team, led by Geithner
Tags: Barack ObamaObama officially named his economic team Monday (from left: Geithner, Romer and Summers).NEW YORK (CNNMoney.com) – President-elect Barack Obama named key members of his administration’s economic team Monday, including New York Federal Reserve President Timothy Geithner as his Treasury Secretary nominee and former Harvard President Lawrence Summers as the director of the National Economic Council.Obama’s [...]
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November 25th, 2008 at 3:22 pm
With the Treasury Secretary on his spending spree he surely isn’t trying to get a good return on the tax payers’ investment. The bailout was to buy up bad mortgage debt but it never did. What is the purpose of the fund? Paulson’s has warrants on many banks and they average 1 – 3 percent when enacted. Yet the cash investment is about 20 percent of the market cap. Maybe the next Treasury Secretary will be less erratic.
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