Word: boss
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...power. In order to get to his boss, you had to pass the spider and he would tangle you up in his web. Everything had to go across his desk." -Nicholas Stuart, a Rudd biographer, on his role as a state government official. (The Guardian, November...
...address failing banks; impossible-to-price toxic securities; a continuing auto-bailout program; woes at Citigroup, AIG and other financial houses; a housing crisis; and an upcoming G-20 summit all at the same time. Even his detractors admit that the to-do list is the deepest any Treasury boss has faced in 80 years...
...note - and not favorably - the almost uncanny influence of former Goldman executives. Initial phases of the rescue were orchestrated by ex-Goldman chairman Hank Paulson, who was recruited as Treasury Secretary in part by former White House chief of staff and Goldman senior exec Josh Bolten. Goldman's current boss, Lloyd Blankfein, was invited to participate in meetings with the Fed. AIG's Liddy is a former Goldman director and an ex-CEO of Allstate. Another alum, Mark Patterson, once a Goldman lobbyist, serves as chief of staff at the Treasury, while Neel Kashkari, who runs TARP, was a Goldman...
There was a comical moment in the front row at a recent runway show in Paris when two magazine editors in sharply tailored jackets had to pivot awkwardly in their seats to make room for their linebacker shoulder pads. Not since Tess McGill suited up to outwit her boss in Working Girl in 1988 have big shoulders played such a prominent role in fashion. For fall, designers like Michael Kors, Donna Karan and Stefano Pilati of Yves Saint Laurent showed structured jackets, enlisting the signature '80s power tool to try to give shaky consumers some self-assurance--and, they hope...
...coming bonuses on Jan. 15. So why didn't the Secretary of the Treasury, with all the resources of a government department at his command, know about it until Mar. 10, according to a White House time line? If it was simple ineptitude, it has nevertheless cost his boss, the President, considerable political and popular embarrassment. Geithner's job security may lie in the fact that the White House needs someone - anyone - with the right credentials to run the financial ship amid this storm. But adrift in an angry sea, Geithner is increasingly a troubled asset himself...