Weekly Wrap: Geithner’s op-ed
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Weekly Wrap: Geithner’s op-ed
For our Weekly Wrap of Wall Street and beyond we’ve got Lizzie O’Leary from CNN in Washington and our New York bureau chief Heidi Moore.
On Treasury Secreatry Tim Geithner’s op-ed in the Wall Street Journal:
Lizzie O’Leary: I think he is speaking to the very specific audience of the Wall Street Journal editorial page and the folks who read the Journal as well for the news. What is going on right now, lest Americans forget, Congress passes a law. But then the most important part of that for the lobbying industry — and all the industries watching the law, in this case Dodd-Frank — is the implementation phase. So the big stuff isn’t in place and he’s trying to kind of bang the drum while people are fine tuning the regulatory parts of this act.
On the state of Wall Street:
Heidi Moore: The market is just going to do what the market’s going to do. It would be great to read into [the market gains] that the market is picking up on the very soft elements of a recovery we’ve been seeing. But what we know is that last year, when everything was falling apart in Europe, the market was still up. So we should roll with it while we can.
For more, click on the audio player above.
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