I know this is old news but I still want to comment on this one:
I have to say that I'm surprised at the lack of outrage and/or incredulousness over the news that Citibank's Chief Economist has been appointed to join the Treasury. Call me crazy but I wouldn't be too keen on appointing anyone from the sinking ship that is Citibank (NYSE:C) to be involved in running a Lemonade stand let alone anything related to fixing the economy, and I'm shocked that (to my knowledge) I'm the only person expressing a similar sentiment.
I understand that there is a limited pool of candidates to choose from for positions like this, but this isn't the time to bring in the "Usual Suspects" when they're the ones responsible for the very problem the government is trying to fix. This move is more farcical than when UBS fired it's COO and then appointed its Chief Risk Officer to the position, i.e., the very same executive who was in charge of protecting UBS from the very risks that caused the company's multi-billion dollar write-down that quarter.
In terms of solution development perhaps another big risk facing the economy (along with Denial), is that we have to depend on the Foxes who robbed the hen house to build us a new one.
Disclosure: at the time of publishing the author didn't own a position in any of the companies mentioned in this article; the ideas expressed are solely the opinions of the author and shouldn't be viewed as financial or investment advice.