walkitout (walkitout) wrote,

Woohoo! Larry Summers will almost certainly _not_ be Treasury Secretary!

I cannot tell you how happy this makes me.

I recognize that Treasury is not a great spot to be in terms of career security -- just like Lincoln went through Generals in the course of the Civil War, we'll probably be going through financial advisors including Secretary of the Treasury. It's _possible_ Geithner will find a solution both so effective and sufficiently popular that he survives.

But I kinda doubt it. And if I'm right, and Geithner is just a fuse, the next guy will be a lot less popular with Wall Street and a lot more dramatic in terms of what he's willing to propose in terms of solutions. We Shall See. I was sure wrong about what was going to happen to the price of oil. It's below $50 these days.

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