Reading this article (And Washington Post, this is a critical article about the administration that unlike the earlier monstrosity is backed up by this thing called actual reporting) about the Federal Reserve not telling the Treasury Secretary about the AIG bonuses who then seems to have at best dragged his feet in telling the President about the scheme reminds me of something: 9/11. A lot of the blame on the side of the government then was federal agencies – in particular the CIA and FBI – not working together and building up their fiefdoms. TALK, dammit. It’s a wild guess on my part but I think it’s an in-network call for the Fed, Treasury and White House to conference call with each other. It won’t cost much, if anything!
Also, Tim Geithner may be a financial wizard but he seems to have the same sort of communication skills that Hank Paulson had. In other times people don’t much need to hear from their Treasury secretary. In times like this, he or she needs to be front and center. I doubt he’s going anywhere, even though a few Republican congressmen took their grandstanding pills today (Wonder if these guys said a peep when Donald Rumsfeld was leading American and Iraqis off to their deaths? Doubtful.) On the off-chance that does happen, just send a car for Professor Krugman.