Best of Chicago voting is live now. Vote for your favorites »
Aside from squabbles over specific picks, it’s good that Obama is moving quickly with the econ section of his cabinet; the market is something that can be tweaked by news of something that will happen in the future, so it’s one step the president-elect can make to actually improve the economy without having any actual powers as of yet. It’s been suggested that the selection of Timothy Geithner as Treasury Secretary caused Friday’s market rally, although the news that the FDIC has pretty much eliminated its insurance caps (about a month after raising them from $100K to $250K) seems just as likely a culprit.
At the very least, Obama’s press conferences are more interesting and less depressing than reading that my arguably solvent bank is getting a not-bailout (it would be socialism if the U.S. bought Citibank, I guess, but loaning them twice the value of the company is fine). The consensus: this sucks hard.
“Now is when we need a president who has the skill, the vision and the courage to cut through this cacophony, pull us together as one nation and inspire and enable us to do the one thing we can and must do right now:
