President-Elect Barack Obama's just annouced his new economic team this morning : New York Federal Reserve head Tim Geithner as Treasury Secretary, UC Berkeley Professor Christine Rohmer as chair of his Council of Economic Advisers, and former Harvard President Lawrence Summers as head of National Economic Council.
Geithner and Summers have been much-talked about. Summers, even with his mistatements on women, is considered a bright and effective economic policy-maker. Geithner is so well respected on Wall Street that the Dow jumped 200 points after Friday's news leak of his selection as Treasury Secretary.
The surprise is Christine Rohmer, who's well-known in the San Francisco Bay Area as a professor of Economics at Cal-Berkeley. I personally met Professor Rohmer during my second year as a graduate student at UC Berkeley. I found her to be a delightful mix of the personable and the intellectual. A great mix to advance policy points and ideas. On that, Dr. Rohmer was well-regarded and popular with students, and I think if memory serves, won an award for teaching. The point is she can take complex economic matters and explain them in such a way that people can learn them.
Monday, November 24, 2008
MyBO Grassroots Inauguration Ball WDC 1/19/2009
Official website of the Grassroots Inauguration Ball set for January 19, 2009 - for celebration of our Victory - and the Inauguration of Our President Barack Obama as President of Our United States of America. We Did It!
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Obama Eyes $500 Billion in Stimulus
Obama and Bush are rushing to craft measures to bolster financial markets and prevent a policy vacuum during the transition. Meanwhile, Paulson is considering tapping the second half of the government's rescue fund.
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Citigroup Saw No Red Flags Even as It Made Bolder Bets
“Our job is to set a tone at the top to incent people to do the right thing and to set up safety nets to catch people who make mistakes or do the wrong thing and correct those as quickly as possible. And it is working. It is working.”
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Bloomberg: US could lend as much as $7.4 trillion
Financial institutions have purportedly already tapped $2.8 trillion in credit lines from the Treasury. The loans are the largest provided in an economic emergency since the New Deal of the 1930s, in the wake of the Great Depression.
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Swedish CEO says he will work for free
Lars G. Nordstrom isn't the only CEO being criticized these days for earning too much money during the world financial crisis. But he may be one of the few who has reacted by deciding to work for free.
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