I ran across two posts on Treasury Secretary Tim Geithner that I thought were worth passing along. The first is a diatribe against the secretary at naked capitalism:
Geithner … and the boys made a conscious decision to side with the oligarchy at the expense of the people.
Geithner was, of course, largely responsible for much of the failure of the government to restrain risk-taking in the first place.
and another, friendlier post from (of all people) Keith Hennessey, praising some aspects of Secretary Geithner’s recent speech on the budget. Mr. Hennessey comments on three points made in Geithner’s speech:
- There are demographic factors underlying the country’s fiscal problems.
- Dealing with those problems can no longer be postponed.
- Higher interest payments are a cost of inaction that will squeeze out other policy priorities.
There is a lot within Secretary Geithner’s speech with which I disagree, but I wanted to start on a constructive note. These are three important policy points where I think the Secretary deserves credit.