Friday, December 06, 2002

HEADS ROLL: Paul O'Neill resigns from Treasury. No big surprise there, since it's been rumored for weeks, he was never considered an insider and was always a bit of an odd choice, distinguishing himself primarily for highlighting the inane complexity of the tax code. The resignation of Larry Lindsey, however, is more of a head-scratcher, since he has been a confidant of Bush for awhile and is a sound guy. Maybe he's embarrassed for having to defend the steel tariffs and the farm bill -- which, IMHO, might be contributing to the lack of confidence by consumers and investors in the economy. Both of these moves -- and the rejection of the EchoStar/DirecTV satellite merger -- make zero economic sense but have scored political points for the White House. I'm guessing we'll know about the back story of the Lindsey decision soon.

1 comment:

dhd said...

EVEN by wow gold the standards gold in wowd of the worst financial buy wow gold crisis for at least wow gold cheap a generation, the events of Sunday September 14th and the day before were extraordinary. The weekend began with hopes that a deal could be struck,maplestory mesos with or without government backing, to save Lehman Brothers, America''s fourth-largest investment bank.sell wow gold Early Monday buy maplestory mesos morning Lehman maplestory money filed for Chapter 11 bankruptcy protection. It has more than maplestory power leveling $613 billion of debt.Other vulnerable financial giants scrambled maple money to sell themselves or raise enough capital to stave off a similar fate. billig wow gold Merrill Lynch, the third-biggest investment bank, sold itself to Bank of America (BofA), an erstwhile Lehman suitor,wow power leveling in a $50 billion all-stock deal.wow power leveling American International Group (AIG) brought forward a potentially life-saving overhaul and went maple story powerleveling cap-in-hand to the Federal Reserve. But its shares also slumped on Monday.