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Blodget calls for Geithner's head

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Tim Geithner hasn't been Treasury Secretary for much more than a month, and already Henry Blodget is calling for his head.

Blodget writes that Geithner's ideas and personality have failed to inspire and, most importantly, he has "Refused to revisit or defend his almost certainly inaccurate view that this crisis is merely a temporary price decline caused by a lack of liquidity, rather than a collapse of a debt-driven economy. You can't cure the patient if you're treating the wrong problem."

Blodget's point is that while it might seem too early to judge Geithner, the early returns are not good: And in this market, we don't have time for trial and error and on the job training.

The real question is whether President Obama -- or any other mainstream politician -- would appoint someone who would approach the problem any differently.

If you decide to view the current economic crisis as the "collapse of a debt-driven economy", then you're wading into the Ron Paul territory where short-term measures like TARP and economic stimulus packages won't really work.

That may very well be the case, but it's certainly not the approach anyone in Washington seems willing to take.

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Last updated: November 25, 2009: 08:33 AM

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