Posts

Showing posts with the label Jr.

A People's Guide to the Economic Recovery Advisory Board

We note the Obama Administration named it's Economic Recovery Advisory Board today. While we are hopeful, we are not happy. This board will probably need to be modified before living up to it's potential. Here are it's members:

Chairman - Paul Volcker. Upside - Solid. The best there is. Should have remained Fed Chair. Downside - a little long in the tooth. (This is not age discrimination. Technology has much to do with this recession.)

Staff Director and Chief Economist. Austan Goolsbee - Probably not helpful. Chicago Economist...and they basically sank us into this mess. At least he is at the staff level.

Members - William H. Donaldson, Chairman, SEC (2003-2005). Solid. Called for market reform a long, long time ago. Ran a great firm, DLJ.

Roger W. Ferguson, Jr., President & CEO, TIAA-CREF. Solid. Next to Volcker, the best there is. The guy who saved the economy on September 11, 2001. (See "Bernanke's Fumbles Suggest Deeper Problems," originally posted on th…