Thursday, March 19, 2009

Citigroup economist heading to Treasury...

One of my big complaints with the Treasury is that they seemed to be in bed with all of the big banks. The Treasury works for you, not for the banks, but you'd be hard pressed to know that given Sec. Geithner's moves to save the banks at all costs.

Well at least this economist seems to have a really good grasp on the economy....

"Citigroup Inc.'s chief economist is leaving the company for a job at the Treasury Department, according to an internal Citigroup memo.

Lewis Alexander, who has been at Citigroup since 1999 and before that worked at the Federal Reserve, will head to the Treasury "to work on domestic financial issues," said the Citigroup memo, which was sent Tuesday.

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 2007 interview on PBS."

Ugh.

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