Jim:
Today, Barack Obama
announced one of the
most important
members of his
economic team...
clearing up a lot of
the uncertainty
that's been keeping
this market down.
Wall Street cheered
about the
appointment of Tim
Geithner as the
Secretary of the
Treasury, something
that we have not
championed, since he
was a regulator on
Wall Street, and had
a hand in much of
what went on there,
since he was in
charge of the New
York Fed... the eyes
and ears of the Fed.
He seems tainted to
us, because he was
too close to the
current
administration, and
its bumbling
attempts to fix
things...
See all
of
tonight's
stocks
mentioned
on
Yahoo!
Finance,
here...
Monday,
November 24, 2008
(Cont'd from
above)...
Jim (cont'd):
Did he ever sound
the alarm? I don't
think so. But we are
thrilled about Larry
Summers, who we love
for being
consistently right
about the crisis,
and has been
speaking out
constantly. He'll be
the Director of the
National Economic
Council.
Also appointed today
were, of course,
Tito Romer, as the
chair of the Council
of Economic
Advisors, and
Melanie Barnes who
gets to be the
Director of the
Domestic Policy
Council, and Heather
Higgambottom, who
will be the Deputy
Director of the
Domestic Policy
Council.
Now I want to talk
to a man who's been
part of Obama's
transition economic
advisory board about
this new team and
what they'll do.
You've heard of him
in a different
capacity though. I'm
talking about Eric
Schmidt, the CEO of Google, Inc. (GOOG).
Schmidt, as part of
Obama's economic
team, has advised
the president-elect
about what he should
do to solve the
current economic
crisis. He worked
with Cramer-fave,
Larry Summers, and
probably had some
say in picking this
team.
Mr. Schmidt, welcome
back to Mad Money...
Jim's comments AFTER
the interview:
Guys, I've got to
tell you... I still
think Google, Inc. (GOOG)...
It's come down below
300... Look! It's
the lowest its been
in years! Come
on!... We're not
going to be staying
in this funk
forever!
