Obama Meeting With Top Bankers On Monday, Is Geithner "Transition" In The Works?
Geithner is in the blender, and Obama may be set to hit the liquefy (while pulsating) button. As the public is screaming for metaphoric blood, Obama may have finally decided to bring his lobbying efforts direct to Wall Street (instead of its coming to him via Timmy and Larry whispering sweet nothings). Which is why the President is meeting with top bankers once again this coming Monday. Of course, the pretext is innocuous, but many see this as Jamie Dimon's coronation moment, and the first step in his official transition into the public arena.
President Barack Obama plans to meet Monday with a
group of top bankers to talk about the economy, lending and financial
regulation as tension between the White House and Wall Street continues to
The meeting will be at least the third this year between Obama and banking
executives. He met with chief executives from the country's largest banks
earlier in the year and credit-card executives several months ago. The
previous meetings have been mostly cordial but haven't ended with concrete
With bonus season in play, and Main Street just dying to see the Goldman proxy, as well as find out which trader made how many hundreds of millions, one can bet this meeting will be anything but cordial. Thus it is likely that Wall Street will sacrifice Jamie to the altar of public service, concurrently with Mr. Geithner becoming the latest public-to-private casualty. And while Goldman seems a little too blatant (and as we all know Mary Geithner has a soft spot for the GC role there), and PIMCO staffing needs full compliments of recent mountain men who have decided to rejoin civilization, one wonders whether the suspiciously quiet governmental risk manager, BlackRock, may not end up being TurboTaxTim's final $10 million+/year resting place.