Meet the Barack Obama Economic Team
As you well know, 2008 has served as a very dark year for the United States Economy. The Barack Obama Economic Team hopes to be the driving force responsible for turning around the markets and economy in 2009. The Obama appointments include a few individuals who I knew, and another one who was a bit more obscure. So, I looked into the cabinet picks that have been released, and have listed some of the highlights about the Obama Economic "All-Star" Team that we all hope will lead to better times.Dr. Lawrence Summers
Dr. Lawrence Summers served as a financial advisor to President-elect Obama’s presidential campaign.Past Government Experience:
Dr. Lawrence Summers was the Secretary of the Treasury from 1999 to 2001. He had previously served as undersecretary for international affairs and deputy secretary of the Treasury. From 1991 to 1993, Dr. Summers was the chief economist of the World Bank where he played a role in designing strategies to assist developing countries. Prior to coming to Washington, Dr. Summers was a distinguished Professor of Political Economy at Harvard University.Current Position:
Dr. Summers is the Charles W. Eliot Professor at the John F. Kennedy School of Government at Harvard University and a part-time managing director of the investment and technology development firm, D.E. Shaw & Co.Full Biography
Foreign Policy Related Activities: As Secretary, Dr. Summers helped modernize and reform the domestic financial system while internationally he addressed the challenges of modern capital markets. He worked with the IMF to improve surveillance of financial vulnerabilities, greater transparency in the international financial system and the introduction of new lending facilities. He helped secure significant debt relief for the world’s poorest countries, freeing up funds for primary health care and education in many countries. Dr. Summers unveiled the National Anti-Money Laundering Strategy and helped negotiate the U.S. agreement to allow China to join the WTO. As undersecretary for international affairs at the Treasury, Dr. Summers helped formulate domestic and international economic policies. He influenced the design of the U.S. support program for Mexico in the aftermath of the financial crisis, and crafted the international response to the Asian financial crisis of 1997. Dr. Summers is a member of the Group of Thirty, a Washington-based financial advisory body that aims to deepen understanding of international economic and financial issues, including exploring international repercussions to decisions taken in the public and private sector. ________________________________________Timothy F. Geithner
Past Government Experience:
Before joining the International Monetary Fund in 2001, Geithner worked in the Treasury Department under three administrations in various positions, including under secretary for international affairs from 1999 to 2001. Mr. Geithner played a crucial role in calming several global financial crises during the Clinton administration, including the turmoil in emerging markets in the 1990s that led to the meltdown of Long-Term Capital Management.Current Position:
Timothy F. Geithner has been president and chief executive of the Federal Reserve Bank of New York since November 2003.Full Biography
Foreign Policy Related Activities: Mr. Geithner was previously a senior official at the International Monetary Fund from 2001 until 2003. Mr. Geithner graduated from Dartmouth College with a B.A. in government and Asian studies in 1983, and from the Johns Hopkins School for Advanced International Studies with an M.A. in International Economics and East Asian Studies in 1985. He has studied Japanese and Chinese and has lived in East Africa, India, Thailand, China, and Japan. Mr. Geithner is a member of the Group of Thirty, a Washington-based financial advisory body that aims to deepen understanding of international economic and financial issues, including exploring international repercussions to decisions taken in the public and private sector. ________________________________________Paul Volcker
Paul Volker served as an economic advisor to President-elect Obama’s presidential campaign.Past Government Experience:
Paul Volcker is an American economist and former Chairman of the Federal Reserve, from August 1979 to 1987. From 1969 to 1974, Mr. Volcker served as under-secretary of the Treasury for international monetary affairs. He acted as a moderating influence on policy, advocating the pursuit of an international solution to monetary problems. After he left the Treasury, he became president of the Federal Reserve Bank of New York until becoming the Chairman of the Federal Reserve.Current Position:
Since 2006, Volcker has been the Chairman of the Board of Trustees of the Group of Thirty, a Washington-based financial advisory body that aims to deepen understanding of international economic and financial issues, including exploring international repercussions to decisions taken in the public and private sector. He is also a member of the Trilateral Commission and the Chairman of the Board of Trustees of the International House in Manhattan.Please visit our site for more Retirement, 401k, and Insurance information: www.erollover.com Subscribe to erollover.com Blog by Email
