Shop Talk

A special greeting to Oregon,where I advertised for the first time this week.I always think of Mount Hood when I think of your state,and the Mount Hood daffodils on the property.They are both tranquil thoughts.Goodness knows we can use such thoughts in the wake of the Mumbai battle.It was a somber backdrop for the American Thanksgiving,but we managed to celebrate anyway,not letting the militants have their way.The uncompetitive National Football League games on T.V. were a joke.That can't be good for ratings or the sport itself.There's a real problem with selecting the teams so far in advance.You can't always tell which teams might be incompetent or dominant in a season. It would probably be best to have the day be more fully-scheduled.If the games turn out to be poor,you could just switch the coverage to another one.

What Geithner Is Like

Tim looks at you and is very frank,telling you what a policy can and cannot do,Mr.El-Erian revealed.He has the self-confidence that comes from years of experience.There is no alternative for government involvement;Mr Geithner understands it has to be targeted and reversible,and that's a good thing,Mr.El-Erian observed.Susie Gharib,co-anchor of Nightly Business Report,has served with Mr.Geithner on the board of trustees of the Economic Club of New York.She describes him as very smart,thoughtful and humble.He is very diplomatic,she said.Mr.Geithner,who is the married father of two,is Mr.Experience.He has served under three presidents and five Treasury Secretaries,holding posts in the Federal Deposit Insurance Corporation,the Federal Reserve and the Treasury Department,where he was Assistant Secretary for International Affairs.He is currently President of the Federal Reserve Bank of New York,helping to resolve the Bear Stearns,American International Group and Citigroup issues.

What Geithner Faces

There are so many moving pieces in the financial crisis,you can't find a bottom,Mohamed El-Erian feels.It's better to have the mindset that we are in a protracted healing process.Stay on the sideline and wait for the crisis to morph.Don't be a hero at this point,Mr.El-Erian counsels.

Who Is Timothy Geithner ?

Mohamed El-Erian,co-CEO and co-Chief Investment Officer of PIMCO,says he met Timothy Geithner,President-elect Obama's Treasury Secretary-designate,in the midst of the Russian and Asian crisis.He is very cool,Mr.El-Erian said.He has the crisis management experience that you need at this point.Hank Paulson,the current Treasury Secretary,and Mr.Geithner have worked together.The more certainty we can get,the more the healing process can go forward in a good manner,Mr.El-Erian thinks.

Bush Leaving Regional Stage

President Bush has probably attended his last regional summit,the Asia-Pacific Economic Cooperation event in Lima,Peru last weekend.Mr.Bush told the Pacific Rim gathering that recovering from the financial crisis will take time,but we'll get there.There are times when government intervention is essential;yet it is also essential that nations resist the temptation to over-correct by imposing regulations that would stifle innovation and choke off growth.The president insisted that free markets,free trade and free peoples are the way out of the crisis.One of the lessons of the Great Depression is the harmfulness of global protectionism.The APEC countries agreed to refrain for 12 months from raising new barriers to investment or to trade.They also endorsed the principles agreed at the Summit on Financial Markets and the World Economy,which Mr.Bush hosted the previous weekend.President Bush met with Russian president Dmitry Medvedev while in Lima.Their talks were described as cordial,but direct and frank,covering the Georgian flare-up,as well as the financial crisis and anti-missile defense in Poland.The two leaders appear to be friends,readily smiling and shaking hands.

Shop Talk

Hello to the U.K.,where I advertised this week.The U.K. and the rest of the world are focused on a truly global firm today,Citigroup,whose stock has fallen below five dollars a share.One of the most impressive aspects of the news is the loyalty of Citi's investor, Prince Alwaleed of Saudi Arabia.His Royal Highness has not only not sold his stake in the financial giant;but increased it from less than four up to five percent.He is more than an investor;he is a great friend.Anyone with an interest in the firm should be thanking Prince Alwaleed for being indefatigable.If only the trading floor of the New York Stock Exchange were inspired by his judgement,instead of bolting like a herd of crazy buffalo.

The Essential Task

The British government will work with our partners to establish a new International Monetary Fund as a sentinel,Prime Minister Brown promised,and to achieve the transparency,integrity and responsibility of the financial system.Confidence in the future is the key to bringing back confidence today.I am confident in the future,Mr.Brown asserted,wearing a white bow tie,white shirt and black dinner jacket,a red poppy on his lapel to commemorate Armistice Day.