School of Management finance Professor Mark Williams, a risk-management and former Federal Reserve Bank examiner, commends President-elect Obama’s introduction of the next administration’s new economic team.
“President-elect Obama did a nice job of conveying crisply that while he cannot step on the field as a quarterback until January 20th, he is still quickly assembling a top economic team that is experienced and able to lead us out of financial turmoil.
“In assembling these economic superheros — including Tim Geithner, Larry Summers, Christina Romer, and Melody Barnes — he wanted a group that had sound judgment, were fresh thinkers and had new ideas. These are not characteristics most Americans would choose in describing Bush-appointed economic teammembers, or how they have managed this financial crisis. This was a clear message that a new team, with a lot of experience and new ideas, was suiting up for game day.
“The most important message was the phrase: ‘We can’t have a thriving Wall Street without a thriving Main Street.’ This was important as it sent a clear message that these new economic superheros will no longer allow the interests of Wall Street to take priority over the interests of the American people.”