Geithner's New Advisor Said to Be Citigroup Chief Economist

Citi's (C) chief economist Lewis Alexander is said to be leaving for a post with the U.S. Treasury Department. Alexander will be a direct counselor to Tim Geithner. This makes some sense keeping in mind who Geithner's predecessor was.

Mr. Alexander's role as Citigroup's chief economist didn't entail significant management responsibilities. But his optimistic economic forecasts colored executives' views that the U.S. was unlikely to face a prolonged slump.

"I think that's not going to spill over more broadly into the economy, and so I think we're going to have a normal kind of housing cycle that's going to last through the middle of this year," Mr. Alexander said in a Feb. 28, 2007, interview on PBS.

All we need is another overly optimistic figurehead to provide the 3D rose-colored glasses to the masses. Additionally, now companies that have Citi as a counterparty are likely to immediately become elevated to too big to fail status.

Comments

[expat in China:]

Un believable!!! Home land security better be following Geithner and friends.

OBAMA wake the F up! these people are playing you!!!!!!!!

Run people hide your money and get out of America qucik the smart money is leaving well have left.

Mar 18 06:46 AM

[Tradememe:]

That's the kind of revolving door that is at the root of the whole financial mess. Where is the change we can believe in ?

Mar 18 08:54 AM

[NanO49:]

YOU'VE GOT TO BE KIDDING ME!! One of the guys that helped to cause this mess is now supposed to be telling us how to get out? Well, I guess it does make some kind of lop-sided sense -- (heavy emphasis on lop-sided).

Mar 18 09:15 AM

[fireball:]

yes we can? change?
do it with your own money and labor. my wagons are circled and now i'm putting body armor on my ass ets.

Mar 18 10:37 AM

[samwise:]

Given that the Fed getting a 1.5 trillion dollar expansion of its balance sheet I'd say that's exactly what we need! I say to all those fixed income types (government workers, retirees) what you wanted is what you got with these loonies. And as they say in little Italy, "either you "gotsed" or "you don't gotsed."

Mar 18 04:00 PM

[henarl:]

The Wall St insiders are now circling the wagons.

Mar 18 04:56 PM

[Nik Kondrat...:]

Well bowl me over with a feather, is it really any surprise that another insider goes to Washington?

Mar 18 08:42 PM

[Tony Petroski:]

Please tell me that he paid his taxes and received no bonuses in the last few years or we'll be fated to endure another round of self-flaggellation.

Mar 18 09:00 PM