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POPSObama Fiddle's As Rome Burns These problems are simply the hazard of staffing a treasury department, which often involves people who have made enough money to have tax and nanny issues. And without those people, we cannot fix the banking system. The gigantic stimulus package that Obama passed will fall flat on its face, as contracting credit markets absorb the multiplier. That the Obama administration has been conserving political capital for its stimulus package and its budget, rather than its treasury nominees, is a radical misallocation of priorities. In these circumstances, I find it hard to come down too hard on Geithner for failing to come up with a newer, better plan; he could hardly be expected to do so without any deputies or staff to help.
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