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Does Obama's economic team inspire confidence?

After weeks of media speculation, Obama finally unveils his economic team. Will his selections put confidence back into the US financial markets?

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Yes, they are very strong

Barack Obama
President of the United States

“Vice President-elect Biden and I have assembled an economic team with the vision and expertise to stabilize our economy, create jobs, and get America back on track”


Bob Herbert
Columnist, NY Times

“What I wonder is whether the members of this team, in addition to their grasp of the issues and success at achieving power, have a real feel for the needs of the people they are supposed to be representing.”


Paul Krugman
Columnist

“isn’t it amazing just how impressive the people being named to key positions in the Obama administration seem? Bye-bye hacks and cronies, hello people who actually know what they’re doing...the Democrats look remarkably like the natural governing party these days, with a deep bench of talent.”


Larry Kudlow
TV pundit

“Summers, Geithner, and Romer will all recommend no tax hikes in a recession...But what's especially encouraging is the appointment of Ms. Romer, who easily could serve as CEA head in a Republican administration (just like Geithner could have been McCain's Treasury man).”


Kansas City Star
Editorial Board

“The economic team he has assembled is a strong one, with plenty of depth and experience.”


Bruce Bartlett
Historian

“Obama’s appointments show the utter stupidity of the Republican effort to smear him as a far left kook. Obama’s economic team is so close to the center that any of them could easily have served in a competent Republican Administration.”


Stephen Walt
Academic

“On economics, Obama is putting the right pegs in the proper holes.”


Hugh Hewitt
Radio show host

“The economics side of Team Obama is impressive, and the GOP should be worried that the president-elect intends to talk left and govern right.”


Nouriel Roubini
Economist

“He's choosing people who are pragmatic and who realize the severity of the national problem we're facing. They're knowledgeable about markets, about the economy and the political process in Washington...It's a very good signal of what he wants to do.”


Pejman Yousefzadeh
Blogger

“...The important thing in terms of formulating a smooth transition is that the new economic players are very much plugged in. Geithner is neck-deep in the effort to rescue the financial system...And Summers can swiftly orient himself to the problems at hand.”


David Broder

“The appointments he has made to his economic team have been impressive, and the response to them has been almost uniformly positive from Capitol Hill to Wall Street. But it is not just the incoming White House and Cabinet people who have been reassuring; it has been Obama himself. ”


Mark McKinnon
Media Strategist

“The spirit of good will is being significantly leveraged by Obama, who has had made a series of very smart, practical, pragmatic and non-ideological picks for his cabinet.”


David Biespiel
Poet

“The transition from one administration to the next is a crucial and vital facet of running a government and administering a democracy. That's what the Obama team is doing, making the transition with a sense of urgency, certainly, and with obvious effort of foresight, too.”


William Easterly

“I'm impressed with the rise of a meritocracy in the Obama economic team. Academic economists haven't had this central a role in a long time...This is a great improvement over Bush's cronyism and disdain for intellect.”


Chester Crocker

“Many excellent reactions to Obama's news conference, and there's no point in repeating them. Basically, it's a strong team and a credible start, if the markets are any judge.”


Nouriel Roubini
Economist

“The choices are excellent. Tim Geithner is going to be a pragmatic, thoughtful and great leader for the Treasury...I have great respect for both Geithner as well as Larry Summers. I think both of them in top roles in economics in the administration were good moves. I think very highly of them both.”


Rick Beyer

“Most impressively, he’s paying no attention to the doomsayers crying that he must do this or he must do that right away. He’s staying calm and keeping his eye on the horizon, always the best way to stay on course. This is what the beginning of recovery looks like. ”


No, they support bad policies

James Pinkerton

“The Obama economic team inspires me to be confident, if that’s the right word, that his new administration will be a continuation of the current Bush administration—and then some.”


General Comments

Barack Obama
President of the United States

“The truth is, we do not have a minute to waste. These extraordinary stresses on our financial system require extraordinary policy responses.”


George W. Bush
Ex-President

“I told the President-elect when I first met him, that anytime we were to make a big decision during this transition, he will be informed, as will his team,”


Barack Obama
President of the United States

“...We are facing an economic crisis of historic proportions.”


Barack Obama
President of the United States

“While we can’t underestimate the challenges we face, we also can’t underestimate our capacity to overcome them to summon that spirit of determination and optimism that has always defined us...”


Frank Rich
Op-Ed Columnist for NY Times

“I keep wondering why the honeymoon hagiography about the best and the brightest has been so over the top. Washington’s cheerleading for our new New Frontier cabinet superstars has seldom been interrupted by tough questions about Summers’s Harvard career or Geithner’s record at the Fed.”


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