Thursday, May 20, 2010

Geithner to the Rescue?

The U.S. Department of the Treasury today announced that Treasury Secretary Tim Geithner will stop in the United Kingdom and Germany next week, after the conclusion of the U.S.-China Strategic and Economic Dialogue in Beijing, China. According to the Treasury, "Secretary Geithner will meet with European officials to discuss the economic situation in the region and the measures being taken to restore global confidence and financial stability and to promote continued recovery."
On Wednesday, May 26, 2010, Secretary Geithner will be in London, UK to meet with Chancellor of the Exchequer George Osborne. On Wednesday evening, Secretary Geithner will travel to Frankfurt, Germany to meet with President of the European Central Bank (ECB) Jean-Claude Trichet. On Thursday, May 27, 2010, Secretary Geithner will meet with German Finance Minister Wolfgang Schäuble in Berlin, Germany. That evening, he will return to Washington. 

Geithner to the rescue is an interesting thought, in a Dali kind of bizarre abstract way,  but aside from  pictures for his scrapbook, I don't see much happening. What's he going to do?  A lifetime government worker sure doesn't have the $$$ do buy  up the  EU bonds in trouble. 

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