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Here’s your daily recap of the best feedback we got from YOU on the blog, Facebook, Twitter, Email. Continue the conversation below. And remember, keep it brief, and keep it clean. Thanks!
American Morning’s Monday viewers were dissecting Tim Geithner and his plan for banks. Some felt Geitner’s personality was too “nice” for the job of Treasury Secretary. Others simply wanted more detail on Geitner’s plan before the media “condemn” it to failure.
- Jim -Tim Geitner, to me, appears to be very nice, very smart, brilliant even, and very soft on Wallstreet fatcats. You know... the kind of rich, financial expertise that we need to get rid of if we're going to end this financial crisis. Maybe it's time for Tim to go and be replaced with someone, Democrat or Republican, who knows how to be tough. Tim just has too many buddies to be the effective Treasury Secretary that the President needs to have his vision for the new economy realized.
- MP – Watching your news show this morning, I was disturbed by your comments re the Geithner plan. Reporters all appeared to condemn the plan to failure before it had even been disclosed and vetted. This is not the unbiased reporting I count on from CNN!
Tell us how you feel. Is Tim Geithner the right man for the job? Are you willing to wait for more details on Mr. Geithner’s plan? Let us know your thoughts.
Kiran: Monday Roundup
Good Monday morning to you! Hope you had a good weekend.
Here on AM we started the week talking about the new plan by the Treasury Department and Secretary Tim Geithner to establish a public/private partnership to help get toxic assets off the banks' books and help them lend again. Here's a look at the actual plan.
And just as soon as it was released, the criticisms started as well. Not just from political foes but from leading economists who say it's a waste of money and a rehash of a similar plan the Bush administration's Treasury secretary floated and then backed away from. Read Paul Krugman's NY Times op-ed here.
Christine Romans told us today in one of the breaks just how much hope there is on Wall Street and in the banking industry that this plan will work. Other questions too, after getting eviscerated by Congress last week during the AIG bonus scandal, how willing a partner will some of these private investment firms be? Will they be scared away by the potential for caps on compensation if things do turn around and these assets start making money again? And what about the taxpayers? Many of our viewers asked... why does it seem we as the taxpayer put the money up front and assume the risks while Wall Street benefits if the plan works?
Well, we put a lot of these questions to Christina Romer, President Obama's Chief Economic Adviser. Check it out here.
Another big issue today, the more than one hundred billion dollars set for infrastructure projects around the nation. We talked to Pennsylvania Governor Ed Rendell who co-founded Building America's Future Coalition along with California Governor Arnold Schwarzenegger and New York City Mayor Michael Bloomberg.
I asked Governor Rendell how soon we'll see jobs come out of it and if now is the time to be spending billions more tax dollars.
Finally, the story of a former banker who found a new job and passion as a NY cabbie. He is a real character and shows us that success comes in all forms.
As always check us out on twitter.com/amfix and twitter.com/kiranchetrycnn.
Cheers,
Kiran
"I can't begin to tell you how terrible the situation is."
CNN International Correspondent Michael Ware has been tracking the deadly gun battles between drug cartels and Mexican authorities.
He joined us live to discuss President Obama's plan and Secretary Clinton's visit south of the border.
The president's cautious optimism
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/03/16/minding_your_busi_art.jpg caption=" CNN Business Correspondent Christine Romans is Minding Your Business everyday here on amFIX"]
President Barack Obama was poised, confident, even laughing at times during his 60 Minutes interview Sunday night. He expressed confidence in his Treasury Secretary, and even had cautious optimism for the economy. Mortgage rates are historically low, credit-worthy Americans are rushing to refinance their home loans to lower their monthly payments, (if you have not yet, check it out) and finally, look how the President responded to this question by CBS' Steve Kroft:
“Were you surprised at the depth of this recession when you got here? Did you know it was this bad?”
President Obama: “Now–there's a potential silver– silver lining, which may be that things are so accelerated now, the modern economy is so intertwined and– and wired, that things happen really fast– for ill, but things may recover faster than they have in the past”.
Buying toxic bank assets
Today, the Obama administration will roll out its latest plan to tackle the banking crisis and get loans flowing to families and businesses again.
President Obama's Chief Economic Adviser, Christina Romer, joined us live from the White House.
Obama's grassroots troops
President Obama won the election with the help of a vast network of grassroots supporters who organized online and then took their message to the streets.
Now the President is calling on his volunteers once again... to sell more than a campaign.
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