Streetwise Professor

June 9, 2011

More on Timmy!’s Smart Financial Diplomacy

Filed under: Derivatives,Economics,Financial crisis,Politics,Regulation — The Professor @ 1:20 am

I cannot recall a situation where a US Secretary of the Treasury, or any cabinet member, for that matter, has been the subject of such scathing rebuttals as Timothy Geithner.  The disdain that his lectures on derivatives regulation unleashed is pretty amazing.  It was not respectful disagreement.  It was disrespectful disagreement.  And not from anonymous sources, but from named representatives of government and industry bodies.  Nor is this a new thing.  The Chinese and German Finance Minister Wolfgang Schaeuble, to name but two, have been brutal in their criticisms of Geithner.

This makes it all the more curious to read in the WaPo piece that I linked to yesterday that Geithner has a very close relationship with Obama, arguably the closest relationship of all the cabinet members.  But perhaps that’s not so curious after all: for all his rhetoric about rebuilding relationships with other nations, Obama apparently has a very poor relationship with the leaders of most other countries–worse relationships than Bush.  This suggests that Obama, a notoriously aloof individual, doesn’t really care about what them furriners think.  And as the foreign criticism of Geithner demonstrates, I think those feelings are reciprocated.

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  1. His seeming aloofness from leaders of foreign countries just results from his complete absorption in destroying this country. It’s a big job and a heavy burden that takes a terribly unfair amount of time away from court and course.

    Timmy could always count on Lassie to save the day. Hopefully she will show up soon and bring adults to help Timmy out of the deep dark mine.

    Comment by pahoben — June 9, 2011 @ 6:53 am


    Guess what SWP? We’re auditioning for the role of Papa Brezhnev’s military industrial complex, not the other way around.

    Comment by Mr. X — June 9, 2011 @ 5:35 pm

  3. His wife is a bit of an issue too. She looks like Shaquille O’Neal in a skirt. And she’s very angry at us all.

    Comment by Green as Grass — June 10, 2011 @ 3:31 am

  4. Plus the top rating agency in China essentially calling BS and saying the U.S. is already in default, through the electronic printing press, is another sign of how greatly respected this bunch in D.C. is by their peers in Moscow, Beijing and elsewhere outside the Anglo-American media echo chamber.

    Comment by Mr. X — June 10, 2011 @ 5:57 pm

  5. Gee Mr. X are you saying that Bernanke may boot up the money generator some time in the near future and only the Microsoft blue screen of death comes up on the monitor?

    You are right Green. You know the old saying-the general’s wife is the geberal’s general. She would have scared Patton into submission.

    Comment by pahoben — June 13, 2011 @ 6:15 am

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