President-elect Barack Obama finally named a FCC chairman nominee, tapping old Harvard Law classmate and venture capitalist Julius Genachowski. The announcement pleased some in the venture community.
As confirmation hearings for Obama's Cabinet begin in the Senate, questions are surfacing about Treasury Department nominee Timothy Geithner's housekeeper and taxes. While Democratic congressional leaders call the kerfuffle manageable, Clusterstock asks why no one from the Obama transition team has officially commented on the allegations.
Meanwhile, Republican senators aren't the only ones opposed to Geithner's nomination. CNBC personality Jim Cramer continues his campaign against Obama's Treasury Department nominee. The most recent venue was in an Esquire interview.
Obama picked Geithner, the Federal Reserve Bank of New York president, because he's intimately familiar with the various ongoing bailouts. If you are wondering who will debrief him on the progress of the Troubled Asset Relief Plan when he takes over at Treasury, then check out Talking Point Memo's Muckracker blog's expose on TARP's leadership.
On the subject of bailouts, Bernard Madoff victim Robert Chew writing in Time magazine wonders where his bailout is.
Meanwhile, Madoff associate Robert Jaffe skipped out on a Tuesday hearing in Massachusetts over his involvement in the alleged $50 billion Ponzi scheme. Maybe he read Dealbreaker's guide "How To Properly Escape Capture Following Your Massive (or Relatively Massive) Financial Fraud" and was inspired to go on the lam. - Matthew Wurtzel
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