My son Jeff has a very interesting post today regarding the Obama Administration plan to handle the “toxic assets” in the portfolios of most financial/banking companies.
It implies that in the rush to put together a plan, Mr. Geithner has failed to see a major flaw in the plan. One wonders if Mr. Geithner is being kept on just as a lightning rod to protect Mr. Obama. From the hue and cry that I hear, he does not hold the position because he is qualified or experienced enough to do the job.
There is no doubt that Mr. Geithner is deflecting negatives about handling the economy from his boss. Is this a short term gain for Mr. Obama but a long term disaster in the making for all of us? Could this sort of incompetence doom our financial ship?