Getting back to competence

Tim Giethner has been nominated to be secretary treasury. He is one of the few people who could step into this role and be effective.

Here is what I wrote over at Naked Capitalism:

1. He has given recent speeches on the need for a comprehensive regulatory structure and understands the issues. Until very recently, Greenspan was in charge of the fed, which had an idealogical hatred of more regulations and essentially refused to regulate no matter what the views of employees.

2. Right now, he can act as the treasury secretary/ny fed chief during this time between now and the inauguration. This is an enormous help in current negotiations and in navigating the crisis as it unfolds.

3. He is and will be a competent executor. Remember, we are comparing him with John Snow. John freakin' Snow.

4. Up to speed time: zero.
Not only that, he will not be acting in a vacuum. He is going to have the attention of a competent president.