Sunday, November 23, 2008
Geithner and Bean
Posted by David Smith at 03:00 PM
Category: Thoughts and responses

Timothy Geithner has been confirmed as the next US Treasury secretary, anticipation of which helped Wall Street to a huge gain on Friday. The appointment of somebody with close knowledge of the markets and the banking system is regraded as a significant plus. This is a brief biography.

Meanwhile, Charlie Bean, deputy governor of the Bank of England, said the causes of the current crisis reflected past monetary looseness in the world's big deficit country, America, but also policies in one of the world's biggest surplus countries, China. He maintained that there was very little the Bank could have done through monetary policy to constrain the UK housing boom. His speech is here.