Corzine Debut?
Is NJ Gov. Jon Corzine auditioning to be Barack Obama's Treasury Sec this a.m. on MTP?
Corzine is a former chairman and chief executive of Goldman Sachs. From his gube bio:
Corzine assumed the helm of Goldman Sachs during a troubling time, as the firm had suffered massive losses resulting from a downturn in the bond market. Through strategic initiatives that included realistic expectations, risk diversification, and a methodical approach to the future, Corzine reversed the fortunes of the firm and restored its longtime status as the leader of the investment banking industry.
(JENNIFER SKALKA)
When the current economic "Total Worldwide Meltdown" finally winds down close to an ending, the US will be on, or near, the bottom of the pile of broken economies. The most critical need will be to invest in and support INCOME-PRODUCING businesses, with manufacturing at or near the top of the priority list.
Actually putting direct infusions of money and other forms of investment, such as education and infrastructure building or re-building, will be vital to economic recovery. Having already invested the crown jewels in income-sapping areas such as the (eventual multi-) trillion dollar "bailout" of dead assets (those salable for less than purchase value or unsalable-no value) will be seen to have crippled the US's ability to recover.
It's going to take the counsel of wise businessmen to eventually really bail out the US. Corzine or Bloomberg may be good candidates to assemble such a crew. The US will desperately need "turnaround artists", like those appointed after a bankruptcy, to try to revive the country from the national bankruptcy ominously looming over the country.
He's already run NJ into a ditch. Why not? Here's an article by a guy on CNBC reinforcing what I said last week, that the market is fearing an Obama Administration.
http://www.nypost.com/seven/10132008/postopinion/opedcolumnists/an_obama_panic__133374.htm