Which one has held a private sector job?

[DirtMcGirt]

Take your pick...

After hearing about how a 31 year old is involved in the dismantling of GM, made me wonder. I'm sure he's talented but seriously...WTF


http://finance.yahoo.com/family-home...d=family-autos



The guys with our financial future in their hands have never worked for a company that needed to make a profit to pay their salary. Balance sheets and debt ratios are just academic theories to these guys.

[DirtMcGirt]

Larry Summers- Lawrence H. Summers has been appointed director of the National Economic Council by US president-elect Barack Obama. He is currently the Charles W. Eliot University Professor at Harvard University. He served as 27th president of Harvard from July 2001 until June 2006. Mr Summers has served in a series of senior public policy positions, including political economist for the President’s Council of Economic Advisers, chief economist of the World Bank, and secretary of the treasury of the United States. In 1993 he received the John Bates Clark Medal, given every two years to the outstanding American economist under the age of 40. Mr Summers received his BS from MIT and his PhD in economics from Harvard.

[heavenlyboy34]

Take your pick...

After hearing about how a 31 year old is involved in the dismantling of GM, made me wonder. I'm sure he's talented but seriously...WTF


http://finance.yahoo.com/family-home...d=family-autos



The guys with our financial future in their hands have never worked for a company that needed to make a profit to pay their salary. Balance sheets and debt ratios are just academic theories to these guys.

You're right, of course. Sadly, our Statist friends will defend these criminals "on principle".

[jclay2]

As a researcher, Summers has made important contributions in many areas of economics, primarily public finance, labor economics, financial economics, and macroeconomics. Some of Summers' early papers concluded that corporate and capital gains taxes are an inefficient form of taxation.[citation needed] Cutting the capital gains tax rate, Summers found, could help the economy grow.[citation needed] Later, while working in the Reagan and Clinton White Houses, Summers was able to lobby successfully for cuts in both corporate and capital gains taxes.[citation needed] One of Summers' prominent findings in labor economics is that unemployment insurance and welfare payments are a major contributor to unemployment, and therefore should be scaled back. [7]

WTF? Why is this guy working for Obama when all of his early research was against the presidents views? It probably shouldn't surprise me to much considering that Alan Greenspan used to write about the wonders of the Gold Standard.

[DirtMcGirt]

Timmy G-
After completing his studies, Geithner worked for Kissinger and Associates in Washington, D.C., for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988. He went on to serve as an attaché at the US Embassy in Tokyo. He was deputy assistant secretary for international monetary and financial policy (1995–1996), senior deputy assistant secretary for international affairs (1996-1997), assistant secretary for international affairs (1997–1998).[5]
In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department.[14] He was director of the Policy Development and Review Department (2001-2003) at the International Monetary Fund.[5]

In October 2003 at age 42,[15] he was named president of the Federal Reserve Bank of New York.[16] His salary in 2007 was $398,200.[17] Once at the New York Fed, he became Vice Chairman of the Federal Open Market Committee component. In 2006, he also became a member of the Washington-based financial advisory body, the Group of Thirty.[18] In May 2007 he worked to reduce the capital required to run a bank.[15] In November he rejected Sanford Weill's offer to take over as Citigroup's chief executive.[15]

In March 2008, he arranged the rescue and sale of Bear Stearns;[10][19] in the same year, he played a pivotal role in both the decision to bail out AIG as well as the government decision not to save Lehman Brothers from bankruptcy, though claims were made after Geithner's nomination that distanced him from both AIG and Lehman Brothers.[20] As a Treasury official, he helped manage multiple international crises of the 1990s[12] in Brazil, Mexico, Indonesia, South Korea and Thailand

He was Under Secretary of the Treasury for International Affairs (1998–2001) under Treasury Secretaries Robert Rubin and Lawrence Summers.[5] Summers was his mentor,[10][11] but other sources call him a Rubin protégé.[11][12][13]

[DirtMcGirt]

I wonder what kludge is doing right now?

[youngbuck]

I wonder what kludge is doing right now?

Figuring out a way to never have to hold a private sector job.