ThinkFast: March 23, 2009
Posted in Main Blog (All Posts) on March 24th, 2009 4:33 am by HL
ThinkFast: March 23, 2009
Treasury Secretary Tim Geithner will unveil a three-pronged program today for fixing the financial crisis, which “envisions the creation of a series of public-private investments to soak up $500 billion, and maybe as much as $1 trillion, in troubled loans and securities at the heart of the financial crisis.” In a WSJ op-ed, Geithner writes […]
Treasury Secretary Tim Geithner will unveil a three-pronged program today for fixing the financial crisis, which “envisions the creation of a series of public-private investments to soak up $500 billion, and maybe as much as $1 trillion, in troubled loans and securities at the heart of the financial crisis.” In a WSJ op-ed, Geithner writes that he is confident that “these policies will work.”
Paul Krugman writes today that, if reports leaked about Geithner’s bank rescue plan are correct, then he “has persuaded President Obama to recycle Bush administration policy — specifically, the ‘cash for trash’ plan proposed, then abandoned, six months ago by then-Treasury Secretary Henry Paulson.” “This is more than disappointing. In fact, it fills me with a sense of despair,” he said.
Foreign firms and governments are increasing their lobbying efforts in Washington and state capitals, hoping to sell “their expertise in clean energy, high-speed transit and other technologies that under gird key aspects of President Obama’s stimulus efforts.” These firms, however, are “proceeding cautiously for fear of stoking nationalistic objections from U.S. lawmakers and their constituents.”
Former DNC Chairman Howard Dean has been named a regular CNBC commentator. He co-hosted CNBC’s “Sqawk Box” this morning.
In an interview with 60 Minutes’ Steve Kroft, President Obama said, “There’s got to be an exit strategy” out of Afghanistan. Saying what was needed “is a comprehensive strategy,” Obama said, “There’s go to be a sense that this is not perpetual drift.”
