About time, too. His term was marked by gaffes and the administration's inconsistent economic policies. But now that Bush has no SEC or Treasury chief, he has nobody to blame for the economy's performance.
There has been much debate about the possible political consequences of a war on Iraq, but little about the economic costs. That does not mean it s not worth trying. Here is a gruesome sumoftheparts of what war in Iraq might cost the US.
Chancellor Gordon Brown's fiscal rules allow less growth to mean more borrowing unlike the Eurozone s discredited stability pact. But Britain's economy isn't doing particularly badly. Brown's policy isn't being stresstested yet.
Pitt's successor needs a better feel for the markets. The SEC's first head, Joe Kennedy, was a successful speculator in the roaring `20s. The next chair should have a reputation for integrity and a profound understanding of the tricks that companies and investment banks play.
At first blush, Tuesday's vote looks like a snooze for financial markets. Bereft of campaign glare, corporate governance may wither. But investors may find solace from a new Bush economic squad.
The man entrusted with Wall Street disclosure has shown an inability to, well, disclose. His judgment has been poor. And his failure to respond to the lynching mood of the afterbull market created a vacuum quickly filled by vigilantes.
The crusading Eliot Spitzer is turning his attention from Citigroup, the bank, to the man who built it. By going after Weill, Spitzer is raising the stakes in his duel with Wall Street. Its outcome may determine more than the fate of research.