Comments on: Obama’s All-Star Cabinet

By: markm

markm — Wed, 26 Nov 2008 17:23:04 +0000

Treasury: O'Neil v. Geitner, advantage Obama

Just read a NYT article (probably one of their last pre-bailout), anyhow, it didn't give me the warm fuzzies about Geitner. My understanding is he is god of economic gods but the article kind of tainted him (and yes...i said taint).

OUCH: JAMES PETHOKOUKIS: Timothy Geithner: Obama’s Teflon Treasury Secretary. Pethokoukis has a question: “Mr. Geithner, the job of the New York Fed is to — now I am quoting its own web site — ’supervise and regulate financial institutions in the Second District [Wall Street]. Its primary objective is to maintain safe and competitive U.S. and global banking systems.’ You have been in your current post since 2003 and during that time the U.S. financial system has come close to complete disintegration. Why do you deserve a promotion?”

By: anjin-san

anjin-san — Wed, 26 Nov 2008 14:53:14 +0000

Gates has done a damn good job at Defense, glad to see he is staying on.

By: Dantheman

Dantheman — Wed, 26 Nov 2008 13:53:41 +0000

"I would call them the biggest assemblage of yellow-bellied liberals since the Axis of Evil. Im with Triumph!" The Insult Comic Dog is trying to be funny. What's your excuse?

By: G.A.phillips

G.A.phillips — Wed, 26 Nov 2008 13:06:44 +0000

I would call them the biggest assemblage of yellow-bellied liberals since the Axis of Evil.

Im with Triumph!

By: Bob W

Bob W — Wed, 26 Nov 2008 06:08:25 +0000

Typo, I meant good!

By: Bob W

Bob W — Wed, 26 Nov 2008 06:08:04 +0000

Gates for one is a goofd, contrarian pick. I think it makes perfect sense to keep Secretary Gates in place; Obama is just being pragmatic. Gates has not been an ideologue the past two years. He has demonstrated competence, held subordinates accountable, and proven adept at operating in DC. Most importantly of all, keeping a steady hand at DOD gives the new administration cover to focus on an ambitious domestic agenda. If Obama is going to spend political capital, he will do so by expanding entitlement programs, especially Health Care, not by appeasing the idealists who see his election as the repudiation of every last second of the past 8 years.

By: Scott Swank

Scott Swank — Wed, 26 Nov 2008 01:53:57 +0000

Tom -- I was trying to go with how Rumsfeld was seen in 2000 when he was named. I was in fact agreeing with your point when I said that his tenure in Defense was miserable, in particular based on the Iraq war. In fact I would say that Rumsfeld, Powell & Glen Hubbard are all worse for their time in the Bush administration, none more deservedly than Rumsfeld.

By: tom p

tom p — Wed, 26 Nov 2008 01:16:50 +0000

Defense: Rumsfeld v. Gates(?), advantage Bush

Scott: Say WHAT??? Donald "they will welcome us with open arms and pay for our invasion too" Rumsfeld????

Our military will be, what, decades recovering from the debacle that is Iraq?

(I agree with most of your other choices)

By: tom p

tom p — Wed, 26 Nov 2008 01:09:31 +0000

Ashcroft was a two-term governor and a United States Senator. That's an impressive background for DOJ.

Ashcroft was also (State) AG of MO for at least one term (I think 2) Mind you, I have no love lost on the guy, but he knew the law, and he respected it.

ps: I voted for the dead guy.

By: D S Lamont

D S Lamont — Tue, 25 Nov 2008 22:55:36 +0000

Christina Romer’s appointment means that we will have at the Council of Economic Advisers an economist with a background in highly relevant economic history and with moderate Keynesian sympathies - just what we need. It is to be hoped that she understands that one of the key lessons of Keynes is the importance of constructive US leadership in international economic cooperation - including in the international coordination of key economic policies, in building up effective international economic institutions, and in safeguarding free trade. She will be familiar with literature like Donald Moggridge’s biography of Keynes and Donald Markwell’s “John Maynard Keynes and International Relations”, which I think are very helpful in thinking and working our way - nationally and globally - through the present muddle.

By: Scott Swank

Scott Swank — Tue, 25 Nov 2008 21:51:35 +0000

Greg -- The bubble goes back to Greenspan. Here's the first hit I get for "housing bubble graph" from google:

http://mysite.verizon.net/vzeqrguz/housingbubble/

Since Bernanke took office on Feb 1, 2006 I'm not sure why you're blaming the bubble on him.

By: Greg Ransom

Greg Ransom — Tue, 25 Nov 2008 21:32:34 +0000

Bernanke offed the "rocket scientists" mathematics justifying the Fed's unsustainable artificial boom -- he's also widely considered "the smartest man in the room". I call men like Bernanke "idiot savants". "Brilliant" men good at 3rd rate mathematics, with little understanding of economics (say, from the point of view of Hayek's economics). The "rocket scientists" have destroyed the financial markets and they've seriously distorted the relative prices in production and consumption across time. Our free economy can't take much more incompetence from these "well credentialed" rocket scientists. If truth be told, these people are "bright" and "capable" the way an idiot savant is bright and capable -- to be considered the "smartest man in the room" only if you are making a grave mistake about what sort of understanding is relevant to successful functioning.

By: Scott Swank

Scott Swank — Tue, 25 Nov 2008 20:12:52 +0000

Charles -- Krugman speaks highly of Glen Hubbard, Greg Mankiw and Andrew Samwick, to name a few with whom he typically disagrees. More content, less snark please.

By: charles austin

charles austin — Tue, 25 Nov 2008 20:01:50 +0000

Paul Krugman's requirement for being "impressive" and "knowing what you're doing" largely means that you agree with him. And he's not alone. B.F.D.

By: markm

markm — Tue, 25 Nov 2008 19:25:01 +0000

Treasury: O'Neil v. Geitner, advantage Obama

Just read a NYT article (probably one of their last pre-bailout), anyhow, it didn't give me the warm fuzzies about Geitner. My understanding is he is god of economic gods but the article kind of tainted him (and yes...i said taint).