Gretchen Morgenson’s New York Times article on the New York Fed’s ongoing bailout of Bank of America is a much needed reminder of the tar baby embraced by the government in 2008 when it decided to save the banks in their current form rather than changing the system fundamentally. When A...
President Obama has belatedly grasped that holding firm on tax increases for the top 2 percent, and defending Social Security, Medicare and Medicaid against needless cuts, is good politics and good policy. As his Treasury Secretary, Tim Geithner put it on Fox News Sunday, "Why does it make sense...
Timothy Geithner has said that he'll step down as Treasury Secretary at the end of Obama's first term. Assuming that Mitt Romney keeps self-destructing and Obama wins a second term, who should succeed him? Just as Obama's choice in 2008 of an economic team led by Larry Summers and Tim Geithner told...
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