Obama hits the ground running!

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Obama hits the ground running!

By | 2008-11-24T21:09:28+00:00 November 24th, 2008|Economy, Obama administration|Comments Off on Obama hits the ground running!

Barack Obama announces his economic team. This is a progressive solution to our crisis…exactly what the doctor ordered.

From NYT:  With the financial crisis looming as a priority of his term, President-elect Barack Obama sought to put his imprint on efforts to stem the turmoil as he introduced his economic team on Monday, nominating Timothy F. Geithner as Treasury secretary and Lawrence H. Summers to head the White House Economic Council.

By naming a team deeply experienced in dealing with financial crises — Mr. Geithner was heavily involved over the weekend in the efforts to stabilize Citigroup — Mr. Obama underscored his determination to assure Americans and foreign investors that he would aggressively step into a leadership vacuum in Washington during the transition.

Moreover, by pledging that his economic team would begin work “today” on recommendations to help middle-class families as well as the financial markets, the president-elect sought to convey an impression of continuity and coordination, so that his administration can “hit the ground running.”  (more… )

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  1. Steve November 25, 2008 at 6:55 am

    Obama is a freakin’ loser!!! Spends… taxes… spends some more… taxes some more…. and he hasn’t even taken the oath yet!!! I’m seeing Jimmy Carter Jr. here. This clown won’t even make it through his first term. People will see what an empty suit he has always been very quickly and impeach him for his incompetent socialist policies.

  2. Jason November 25, 2008 at 2:12 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.


  3. margaret November 25, 2008 at 6:04 pm

    Why would Paulson care he is leaving whatever money is left if there is any for someone else to deal with. I never thought it was going to go for where they where suppose to go. The taxpayers are pretty much just having to sit and watch the politics play out. There isn’t anything any one of us can do.

  4. ecthompson November 25, 2008 at 9:43 pm

    Steve –

    You’re so wrong. I’m sorry. I try not to finger point or call names but there is no evidence to support your comment. Since no president has ever been impeached for spending, you comment is laughable. When you add to that that Obama has a Democratic Congress it is hard to figure how he will be impeached. Maybe Obama should be a budget hawk like Bush – Oh that’s right he is the one that added $4 trillion to our deficit.

    thanks for your comments – no matter how goofy their were.

  5. ecthompson November 25, 2008 at 9:47 pm

    Jason –

    Thanks for your thoughtful comments and the link. We are going to have to build our way out of this economic crisis. I wish Obama luck since there are people like Steve around who don’t understand and never studied the Great Depression.