What the Pros Say About Obama's Victory
Who Will Fill Paulson’s Shoes?
"Well, I think, number one is Tim Geithner, head of the Federal reserve in New York, because, and this is unique circumstances, we're in a crisis, he's been living the crisis, working the crisis. He knows what's been done right; he knows the mistakes that have been made. He has tremendous experience, a steady hand; I think everyone would look at that and say, 'Considering the times and the circumstances, that's the right choice.' If you go a step away from that, names like Corzine and Summers, they're certainly competent, and certainly have the capabilities to fill the position, but I think in these unique circumstances, the smoothest transition would be to pick someone who's been in the fight every step of the way."
Mike Jackson, AutoNation Chairman and CEO
Obama & Pressure From the Left
“He’s going to have pressures from the left that are so strong. Pelosi and Reid and Barney Frank and Charlie Rangel - they see red meat, and they’re going to be coming, throwing everything at him. The question is going to be can he hold the line.
Jack Welch, Former General Electric Chairman & CEO
Obama’s To-Do List
“First and foremost (we have) to continue to thaw the credit markets. We have to get credit flowing again in this country if we’re going to get the economy growing again, so the programs that have been put in place at Treasury, at the Federal Reserve, they’re going to need a very strong stewardship to continue to fine-tune them, to continue to drive them forward.”
John Castellani, Business Roundtable President
Betting On Another Stimulus
“Clearly the new Administration will have its views as well. We have been talking over the last few weeks and indeed months about the need for a second stimulus package that deals with Main Street concerns, mainly unemployment is running out for literally hundreds of thousands of people, food stamps, because of loss of jobs people are having trouble putting food on their tables. The states are being really stretched because of the increasing demand on their health care system again because when you lose your job you lose your health insurance.”
Rep. Steny Hoyer, (D-MD) House Majority Leader
Taxes To Rise
“He said he was going to raise taxes, so why wait? Yeah, moving to the middle, I think that’s why you might not get tax on dividends all the way back up. You might get a capital gains tax only goes to 20 percent – not higher than that. They said they’re going to raise taxes; they’re going to raise taxes. Why wait ‘til they expire in 2010; you need the money now.”
Vince Farrell, Soleil Securities
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