Wilbur Ross on Geithner
By Barry Ritholtz - November 24th, 2008, 2:30PM
Fox News:
November 21, 2008
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 24th, 2008 at 3:50 pm
I think Wilbur may be right: it sounded as if he was saying it will be blessing in disguise to have Obama and Tim helping out the union auto workers with social welfare type handouts in order to ease the pain of the union givebacks that Gettlefinger will need to agree to get the automakers in a position that they can survive in the coming years.
Or maybe I misinterpreted his words. It might have been a little clearer if Cavuto hadn’t interupted him every 10 seconds.
November 24th, 2008 at 4:53 pm
This is the calmest, least anti-liberal interview I have seen on Fox News for a while. But then again this http://www.youtube.com/watch?v=yrfPMa3lONU was the last interview I saw, followed by http://www.funnyordie.com/videos/8d867fd8ef/lil-oreilly-vs-barney-frank-from-paulbryant6