Sunday, September 21, 2014
Inquirer Daily News

Obama still looking for his Treasury chief

Obama still searching for Treasury chief

Obama still looking for his Treasury chief

Specialist Arthur Andrews, foreground, works at his post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)
Specialist Arthur Andrews, foreground, works at his post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

Last week PhillyDeals reported Democrats expected Main Line native Lawrence Summers to reprise his old Clinton Administration role as Secretary of the U.S. Treasury for President Obama, with New York Fed chief Timothy Geithner as a runner-up.

There's been no decision to date, so speculation continues, as complaints about Summers and other front-runners accumulated. As previously noted, feminists forced Summers out as President of Harvard when he suggested girls aren't so good at math; Geither upset New York bankers by not curbing subprime operators until it was too late; etc. Also, there's chatter about picking a succesful financier -- Warren Buffett! JPMorgan's Jamie Dimon! -- as if they didn't have enough to keep them stimulated, Boston BJ story here.

This report smears Summers as an anti-regulatory buddy of disgraced former Fed chief Alan Greenspan, as they laughed off California's all-too-real complaints about disgraced former energy giant Enron Corp.'s criminal manipulation of the California energy markets in 2000.

That's courtesy of www.thedailybeast.com, magazine impresario Tina Brown's new Web site, which lifted its red-box logo from the Philadelphia Daily News. Being in remote Philadelphia, we have no evidence Brown is in league with pro-Geithner forces. We have noticed that her site,  like www.nymag.com/daily/intel/, like www.gawker.com  and other New York inside-the-fishbowl online media, has been desperately filing a wild mix of financial stories as Manhattan's economy crashes and advertisers head south.  

 
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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