umero uno? is it possible?

I think Treasury should install Outlook and do away with secretary completely.

ok.

Still not liking that Geithner has been in the thick of all this crap for the past 20 years. Casino Capitalism must die.

BRIEF-CORRECTED-U.S. regulators grant conditional OK for Ford Group bank

• U.S. regulators grant conditional preliminary approval for Ford Group Bank, N.A. (not Ford Motor Co) national bank shelf charter application.
• Said the Ford Group Bank N.A. (not Ford Motor Co) will apply for Federal Reserve membership, obtain FDIC insurance.

http://www.tradingmarkets.com/.site/news/Stock%20News/2042542/

I'm sure everyone has noticed that CR has been really staying on top of things lately. Not that he hasn't in the past - but it's been coming fast and furious lately.

Thanks CR - from all of us!

why do these major financial roles all goto the same religion, one that represents less than 4% of our country?

You mean Christian Scientists?

But Paulson and Summers are easy to spell.

The market seems to like the choice.

Only a half hour left to kill this rally.

1worldcurrencyyogi(Unrated) writes:
I think a non-banker would make a much better choice.
1worldcurrencyyogi | 11.21.08 - 3:36 pm | #

Treasury is a 'banker & bean counter' job. Labor & Commerce is where the non-bankers live & then it comes down to who BO listens to & where his priorities are. I can't answer that...

Out til 2010(Unrated) writes:
Wall St likey Timmy. +269 to +344 in about 60 seconds.
Out til 2010 | 11.21.08 - 3:39 pm | #

The devil they know...

Hitlary as Secretary of State

Oh Boy!!!

FRED(Unrated) writes:
dude Geithner is the PPT. You mean he likes himself?
FRED | 11.21.08 - 3:41 pm | #

Not that there is anything wrong with that...

And I was expecting Chuck Prince

LOL!!!

"In spare time he fly-fishes, plays tennis and surfs.[7] He is Jewish."

Wikipedia

why do these major financial roles all goto the same religion, one that represents less than 4% of our country?

Hes not Jewish. But the Jews get these positions cause they work hard, unlike me and based on your statement unlike you too!

........

ades --

Wikipedia says he's Jewish.

I like "Tiny Tim", "Timmy", and "TIMMAY!" as nicknames.

"Geithner? I barely know her!"

He completed high school at International School Bangkok, Thailand, and then attended Dartmouth College, graduating with a B.A. in government and Asian studies in 1983.

Manchurian Candidate?

This vol is INSAAAAAAANE

I can't find anything online regarding Geithner being Jewish.

Going down...from +269 to +344 to now +255 in about 10 minutes...

Shaking off the stops. You'd have to be nuts to be short into this weekend. Citigroup situation will get resolved.

We close +600 or so.

Is Tim an Enchanter?

Timmay geng maak!

clinton sec of state

I don't know most of these players, but I do know that Dimon, or Corzine or any who actually ran the IB's or largest commercial banks would have been a mistake.

Who would you have recommended for the post?

Smart to announce on options expiration.

Friday: Timmay!!!

Monday: Timmay?!?!?

This thread as exploded my 'irritating' list... just sayin'

REVENGE OF THE MUPPET!!!!

Back to the eights.

Yeah, Geithner is reassuringly competent.

Gary(Unrated) writes:
Inverted hammered muppet!

It's true. Grover's latched onto the bear's nose and he won't let go. Not even with one of his little bobble eyes hanging by a thread.

This sucker's goin down.

~~~~~~~~~

Yeah but Obama will have s big effect on how far down ...

He'd better think large ... very large ...

666 Visitors Online

Still on margin(Unrated) writes:
I think today was the bottom.

The referendum on knife catchers clearly passed, to my true surprise.

Who the hell writes the headlines for Yahoo?

"Stocks rallied late on Friday after multiple news reports that New York Federal Reserve President Timothy Geithner will be nominated as President-elect Barack Obama's Treasury secretary. The news erased uncertainty that has been hanging over the market and helped offset fresh worries about the future of embattled No. 2 U.S. bank Citigroup, which had earlier put a cap on a broad advance during a choppy session."

Uhh, Citi didn't rally...

Now, THAT'S what I was looking for. It does not look like anyone wants to stay short over the weekend.

"And I was expecting Chuck Prince"

I think he and Fuld have gone off to join the Somali pirates.

As of today Rush Limbaugh and Sean Hannity can start calling it the "Obama/Geitner recession" which sounds more official, and more plausible somehow.

Santa Claus Rally?

One more head fake before Dow 5000

M-F(Unrated) writes:
As of today Rush Limbaugh and Sean Hannity can start calling it the "Obama/Geitner recession" which sounds more official, and more plausible somehow.
M-F | Homepage | 11.21.08 - 4:09 pm | #

And the eight retards who still listen to them will all concur.

Where did everyone's sense of humor go?

It's almost as if some folks were heavily geared short today.

I don't like Maria reffering to this as the "Geithner Rally".

~~~~~~~~~~

Ya got ta build em up before you tear them down.

Cranky writes:
I didn't know Geithner was a Democrat.

i think thats the idea

ShitiBank sure didn't enjoy the news of the geithner appointment.

Ned Flanders (ex G.s.)(Unrated) writes:
Boy, I must admit I'm more afraid of this rally than of yesterday's crash.
More of The Same can led to this?
Do we need more bailout, more credit, more debt, more mortgages, more HELOCS?

How can you be an American and even ask that question?

Looking for a week long rally beginning today...

It's time to Re-Leverage

red writes:
If this continues to rally from here over the next few days, today could very well mark the bottom.

i bet not. this level will be tested before you can call it the bottom.

me we are putting together more duct tape of the top end financial markets

Duct tape isn't scalable.

But we're sending most of the complex, profitable work overseas now so I suppose it may not matter.

Any speculation on how Black Friday will turn out?

Pavel Chichikov(Unrated) writes:
For God's sake (and I mean God, not some poster here), who does anyone think Obama should appoint, some glib crank with a theory?

Yes - that's what a lot of folks on this forum THINK they want. They just can't agree on which 'cranks'.

There will be only one test that matters - will the new administration 'execute effectively'. Both effectiveness (do the right thing) and efficiency (do things right) will matter. Team Bush was VERY efficient - got almost everything they wanted (tax cuts, Patriot I & II, two wars, Gitmo - etc.)... just wasn't the right things to have asked for.

Will BO do better? Who knows but he has to have efficient insiders to have a chance in hell of being 'effective'. None of these picks will have a completely free hand to do what they want...

If things aren't looking better by midterms - folks will let them know.

morocco bama

you claim obama is a creation of corporate advertising

would you care to back that up with an intelligent argument based on history and facts

im open to being convinced, but not thru guilt by association

ps to all those who think they know geithner...

i have seen many times, a competent and faithful public servant who argues with the policy makers who are his superiors, behind closed doors, and then does his duty once the command decision has been made

lets withhold judgment on this man... he is very competent and now is in a lead policy making position...

im optimistic and wish him well for all our sake

"....Why is it no bankers are ever hired for jobs like this? Yes, a lot of academicians but no "old-fashioned-yes-I-know-how-to-count-change" bankers".....
Black Star Ranch | Homepage | 11.21.08 - 4:45 pm | # "

Is this satire?

From Laughing Millionaire Renter in Marin on Socketsite:
In related news, for anyone who actually thought that Obama was going to represent something different, it was just announced that his pick for the Treasury Secretary is Tim Geithner, head of the New York Fed. That's the same NY Fed that is arguing that it doesn't have to comply with a Freedom of Information Act (FOIA) request because it is private and not a government agency. The same one that is headed (as chairman) by Jamie Dimon, who also by happenstance heads one of th last banks standing, JP Morgan.

Geithner used to work for Summers at Treasury. And Summers used to work for Rubin at Treasury in the 1990s. Rubin is the one who was behind the repeal of Glass Steagall (with help from the Repubs), which Clinton signed of course. Rubin went from Goldman Sachs to Treasury and then to Citibank (once Citi could lever up - in fact, one of the main reasons that Glass Steagall was repealled was because Citi had already agreed to acquire Travelers, which wouldn't have worked unless the law was changed, which required Rubin to go to Treasury in the mid-1990s - then Rubin moved right in to collect his $$).

I predict Geithner will be the 2nd worst Treasury Secretary ever - right behind Paulson.

Angry Saver(Unrated) writes:
I predict Geithner will be the 2nd worst Treasury Secretary ever - right behind Paulson.
Angry Saver | 11.21.08 - 5:07 pm | #

I'm sure he aspires to be No 1.

absolutely HORRIBLE choice...

I'd rather have Jeffery Skilling. At least he was shrewd.

Geithner is another in a long list of idiots that couldn't recognize the largest financial bubble in history.

A wall street puppet.

would you care to back that up with an intelligent argument based on history and facts

Mock, the problem is the LACK of facts. It's quite easy to find glaring holes in his story if you seek, but I will post links to cast doubt into your mind -

http://www.debbieschlussel.com/archives/2008/11/exclusive_did_n.html

Although there's also the argument that the Selective Service act wasn't in law so why did Obama even claim to have registered. I'm fifty, I'm in the "missed window", too, so I kinda of wondered about that.

And of course, the now dozens of lawsuits about his citizenship, two of them now in the Supreme Court.

America Must Know 

And there's the fact that his own website has a photoshopped fake. I find that mildly disturbing, having downloaded it and examined it for my own self.

I think they want it pretty bad. Conservative fiscal policy mixed with liberal social policy is on the line.
Blackhalo | 11.21.08 - 5:10 pm | #

Then make them spill some bodily fluids at the podium - no more gentleman filibusters. Seriously - I'd let them go nonstop for DAYS on end. Cloture vote after cloture vote - no showers, no breaks - rotate them in and out. See how bad they want it.

Meanwhile running dueling press conferences around the clock.

But then I used to do plant start ups working through the night in smelly ag products plants for months on end - co-workers & I taking turns to rotate out to eat shower grab a little sleep and return. It will destroy a young body... let's see how bad these geasers & gaspers want it.

A little sacrifice makes compromise easier to swallow.

This country was a lot better off when industry was in charge and finance was the supporting cast.

A country can't financialize its way to prosperity. Why can't people see this? Sadly, too many want to believe in a free lunch.

I have known a couple of geniuses.

A couple of them were the hub's profs at Hopkins years ago (not the med school) and one of them was Janet Reno.

Not saying that they were perfect and some of them were not genius like in their personal lives, but yeah, geniuses.

That being said, the gov't employees that the hub worked with at Noaa and Nasa, were and are extremely intelligent, generally loved what they were doing and worked very hard.

You don't have to be a genius to succeed and geniuses fail too.

somewhere inside a brilliant mind on wallstreet at 3pm today....

"Geithner! Woot. Buy buy buy! Certainty! Decisions! Known quantities! I like it! No more uncertainty. Woot! We're certain to go up now, because, damn, I was SO uncertain yesterday, and who was leading the show? Yeh, Paulson, and yeh, he's no Geithner. So, Im more confident today, and yeh, all this bad stuff is happening now because we arent confident. Certainty = confidence. Good. Guess we know with certainty now that we aren't doomed, and that's a more volatile ride than being uncertain - uhm, wait, is that how it works?? If we were uncertain, then we'd just go even faster to zero, and then we could just start over, ya know, no place to go but up, but, but now that we are certain we can't go to zero, so we can only go up. Im certainly a believer - this rally has legs. Well, im not certain about that, but Im not uncertain anymore. I know this guy, he's been doing good so far(wait, do you use well there? whatever). Hasnt he? Yeh, I mean, look, we're only down 50% on the S&P? Right? That's good...yeh!!! Buy buy!! Wait, is that good, or bad? Should we be down 70% already? Call Barry...I need some TA, er, wait, no T&A. Yeh. Hehe. Woops, I mean, Sell, sell, wait, nooooo...buy!!! Geithner? Buy buy buy!!! Yay. Burp. OH crap, sell!!! What's happening with Citibank....can Geithner bring out the tarp? Buy buy!!!! Wait...times up. See you Monday.

So, now we are more certain there is no change in the current policy which is helping us head steadily down the tubes. I dub this the stupid rally. based on something silly and convoluted, just like the stream of consciousness above going through some of the traders minds today.

You don't have to be a genius to succeed and geniuses fail too.

Geithner is a dingbat. Dinbats always fail.