Geithner’s Own Words on Financial Regulation
By Barry Ritholtz - November 21st, 2008, 5:56PM
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via BLoomberg
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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November 21st, 2008 at 7:28 pm
Seems like a smart guy and he doesn’t st-st-stutter. That’s a freakin start.
November 22nd, 2008 at 10:52 am
Geithner made those remarks after presiding over the most incompetent financial regulatory structure in the history of the world. Even if he is not responsible, and he is on some level, he is too close to the problem to represent a political break from the problem. This is a faux pas IMO