Obama Announces Economic Team
EmailIn a press conference today, President-elect Barack Obama announced his economic team. As anticipated, he named Timothy Geithner — president and chief executive of the Federal Reserve Bank of New York — Secretary of the Treasury and Harvard professor Lawrence Summers as Director of the National Economic Council.
As we reported earlier, he picked Christina Romer as Chair of the Council of Economic Advisors, and Melody Barnes and Heather Higginbottom as Director and Deputy Director of the Domestic Policy Council.
"Vice President-elect Biden and I have assembled an economic team with the vision and expertise to stabilize our economy, create jobs, and get America back on track. Even as we face great economic challenges, we know that great opportunity is at hand — if we act swiftly and boldly. That’s the mission our economic team will take on," Obama said in a press release.
Speaking at the press conference, Obama stated: "Beyond any immediate actions we may take, we need a recovery plan for both Wall Street and Main Street… I have asked my economic team to develop recommendations for this plan, and to consult with Congress, the current administration and the Federal Reserve on immediate economic developments over the next two months. I have requested that they brief me on these matters on a daily basis, and in the coming weeks, I will provide the American people and the incoming Congress with an overview of their initial recommendations."
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I just pray Bush will let Obama’s team in NOW, today. Our situation is very different than ever before, I know we only have one president at a time but when the one we have is being a lame duck and we are all suffering it just needs to be done.
Posted by: becky (the real one) | November 24, 2008, 12:40 pm 12:40 pm
In his comments following Obama’s economic press announcements, Charles Gibson mentioned Obama’s “fairly long introduction” of his nominees. They weren’t long, Mr. Gibson, at least if you have the attention span of a gnat. It’s very typical of you and the other major network “news” organizations to call anything longer than a 5 second sentence to be long and complicated. I for one am starved for as much in-depth information as I can get from our government. Stop dumbing down America.
Posted by: s west | November 24, 2008, 12:43 pm 12:43 pm
becky the real one
i am with you on this one,
in this situation we need to dispense with the pomp-and cut to the chase,
bush and crew can slink on to where ever they want to go. we will call them back when the hearing start and put then on trial for war crimes, and crimes against a country mainly the usa.
but for now, their damage has been done.
go away bush, let the smart people take care of things now.
Posted by: sugar | November 24, 2008, 12:51 pm 12:51 pm
More Bailouts for Billionaires! More handouts for those who don’t pay taxes, (Banksters and Multinational Corporations) and rising taxes for those who do! Yeay Obama!!! Take whatever is left and give it to the “common good.” The middle class must be DESTROYED!!! Let the Feudalism begin! Let those poor sods police and inform on each other if the want another handout from “Big Brother government!!!”
Posted by: please! | November 24, 2008, 12:51 pm 12:51 pm
Our new president realizes this country is in economic peril.Yes! He is carefully considering his choices as well as hastily bringing them to the country’s attention for stability appearances.Have confidence that his team and advisors will get the job done for ths great U.S. of A.!
Posted by: TV | November 24, 2008, 12:59 pm 12:59 pm
At least Obama knowS the problems we have and what were facing and is getting to work, our lame A$$ President Bush got us into this mess did nothing to stop this economic Disaster and still wont do nothing. what an awful worst president in History well dont Blame me I wasnt stupid enough to vote for him not the first time or the second 1/20/09 END OF ERROR!
Posted by: ANGIE | November 24, 2008, 1:13 pm 1:13 pm
yse, it is time for a “change”. But to those that keep blaming the current administration for all the economic problems, remember that the Clinton administration put pressure on the mortgage industry to provide loans to people who really couldn’t afford them. The collapse of the housing market is where this began. And ALL the nincompoops in Congress were so busy fighting amongst themselves they didn’t have time to take care of the country’s business.
Posted by: mj | November 24, 2008, 1:22 pm 1:22 pm
Obama has proposed the privatization of public works, which some of us don’t see as too wise of a new deal. I wonder of there’s going to be a collaboration amongst his advisors and cabinet in that direction fairly soon. Just a speculation.
Posted by: kat | November 24, 2008, 1:48 pm 1:48 pm
Wow
A PRESIDENT WHO CAN SPEAK REAL ENGLISH
THANK YOU THANK THANK YOU AMERICA
Posted by: Omentum | November 24, 2008, 2:29 pm 2:29 pm
sdince all our money is ending up in china and mexico——why the hell dont they bail out the financial institutions.
Posted by: rodney | November 24, 2008, 3:11 pm 3:11 pm
what most dont understand –it is the top 5% cleaning up before obama takes over—-wait and see how great the debt is.
Posted by: rodney | November 24, 2008, 3:15 pm 3:15 pm
Jail for Paulson and jail for Cox and just watch our markets ROAR. Your retirement account will turn green if those to Bush cronies were held accountable punitively! Paulson and Cox equal red minus signs in your accounts all the way.
Posted by: Common Sense | November 24, 2008, 9:43 pm 9:43 pm