Tim Geithner the non-Democrat
I've been reading with great interest talk that the New York Fed chief, Timothy Geithner, might become Treasury secretary under Barack Obama. Here's a Time article on the speculation, saying that "...Geithner, a Democrat, has experience at the Treasury."
That he does. However, the part about him being a Democrat is not correct. He is actually a registered independent, as I pointed out in my Portfolio article.
Not sure that really matters, but it needs to be pointed out, I think.
Obama gave what I thought was a cogent performance at his press conference today (at which Geithner was not present, which also may or may not matter). The media is picking apart his "mutt" and "seance" comments, ignoring that he is still showing tremendous powers of inspiration--which should, one hopes, calm the fears of the markets.
The stock market, nevertheless, went down during the press conference, which also may or may not have any significance. It did rally nicely afterwards.
© 2008 Gary Weiss. All rights reserved.