Items of Interest:
Obama Said to Pick Geithner as Treasury Secretary -- President-elect Barack Obama picked Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary, with Lawrence Summers getting a senior White House role, a Democratic aide said.
Geithner helped lead the U.S. response to the deepest financial crisis in seven decades, including the takeover of American International Group Inc. and Bear Stearns Cos. rescue, and decision to let Lehman Brothers Holdings Inc. fail...
Jackie Calmes / New York Times:
Fed Official Is Said to Be Choice for Treasury
Geithner gets Treasury
Citigroup Tries To Steady Stock -- Citigroup's Pandit told employees he has "no desire" to sell any part of the firm. Citi is working to stabilize its shares, which hit a 16-year low.
Maria Woehr / Dealscape: Rabble Babble: Will Citigroup make it past the weekend?
Citigroup's Pandit: We Will Not Sell Smith Barney — If you are dumbfounded by the amount of money the federal government is pouring into the private sector to ease the nation's financial crisis, click ahead for a big-budget ride through time.
Wsf / Wall $treet Folly : Nine Citigroup hedge funds have crashed and burned recently, but that's apparently not stopping them from buying more
George White / Dealscape: Pandit says Smith Barney's not for sale
Binyamin Appelbaum / Washingtonpost.com:
Citigroup Seeks to Reassure Investors, Stabilize Stock Price — Citigroup executives are scrambling to convince investors that concerns about the New York financial giant's health are greatly overstated, even as the company's board meets today to discuss options including the possible sale of business units...
Tom Curry / MSNBC:
The Auto Makers Are Already Bankrupt
Discussion: The Big Picture, Real Clear Politics and Commentary
The Option ARM Non-Bomb? -- I just had someone email me something interesting today about their adjustable-rate mortgage resetting –- but to considerably lower levels. How widespread is this phenomenon? Or, asked differently, what percentage of ARMs are tied to Treasuries, as opposed to Libor, etc.? I’d love to see some data...
- How To Rebuild Once Market Shakes Off the Bear - Jim Jubak, MSN Money
- Cash Is King in this Economy--And Maybe a Cure Too - The Economist
- Wall Street Is Still Crazy After All These Years - Jon Friedman, MktWatch
- Obama Needs Bernanke To Keep Deflation in Its Cage - Editorial, CSM
- Automakers Need a Shakeout, Not a Bailout - Daniel Ikenson, American
- Buffett, Gates & Jobs Should Run the Automakers - M. Gilbert, Bloomberg
- Cooling the Debate over Fair-Value Accounting - Colin Barr, Fortune
- Someone Paid Dearly for Your Free Lunch - Jamie Whyte, Times of London
- Paulson Should Take a Holiday from Bailouts - William Greider, Nation
- We Need 'Safe-Fail' Approach Against Crises - Benn Steil, Financial Times
- The Economy Can't Wait Until January 20th - The Editors, New Republic
- Light at the End of the Recession - Irwin Stelzer, Weekly Standard
- Will Obama Raise Taxes? Consult Intrade - Susan Lee, Forbes
- The Steady Decline of Citigroup - Mara Der Hovanesian, BusinessWeek
- Barbarians Perish In Bonfire of Inanities - John Helyar, Bloomberg
- The Economy and the Waxman Wane - Editorial, Investor's Business Daily
- The Markets Need Confident Government Action - Floyd Norris, NY Times
- M&A in a Crazy, Credit-Starved World - Steven Davidoff, Deal Professor
- Warren Buffett: Unemployment Heading 'To New Heights' - The Ticker
- Can The Dow Go Lower? I Hope So - Jason Zweig, The Wallet
via FT Alphaville