Obama Treasury Pick Probably Not a Good Sign

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By Ben Cohen

http://www.bloomberg.com/apps/data?pid=avimage&iid=i7qETnmqAtwg

This is a preliminary analysis based on some quick research, but Obama's pick for Treasury Secretary does not bode well for his mantra of change. The stock market rebounded dramatically upon hearing the news that Timothy Geithner would become Treasury Secretary, a sure sign that he won't be working in the interest of the public. According to Robert Scheer, Geithner is basically a deregulator, and a student of the brilliant minds who got us into the mess in the first place (Robert Rubin and Lawrence Summers).

According to the New York Times, Geithner has a mixed track record on regulation, so may not be terrible if he proves willing to change his mind. However, it isn't a bold pick, and certainly isn't a shift towards the serious Left.

The Daily Banter will continue to do research and keep our readers informed on Geithner and the other people appointed to work on the economy