You Get What You Pay For

Twenty-nine years ago Tim Geithner had just arrived on the Dartmouth College campus. The prospective Treasury Secretary was a studious, quiet student, who did quite well as an Asian Studies major.

After some time with the Foreign Service and Kissinger Associates, he distinguished himself at Treasury during the Asian Contagion with his understanding of East Asia markets and their cultures. His success in that crisis propelled him to the leadership of the New York Fed, and now to the Treasury Secretary’s office

This seems a particularly appropriate time for Mr. Geithner to take the helm at Treasury. The two most important actors on the world stage right now are the American Consumer and Chinese lenders. Both need each other. Without American demand, China will have to shut down its factories. And without Chinese credit, consumers won’t be able to finance what they buy.

Mr. Geithner comes to Treasury when an honest broker with cross-cultural understanding is needed more than ever. Here’s hoping that the quiet, likeable official can help calm the markets. That’s some change I could believe it.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By | 2014-09-04T15:10:49+00:00 November 24th, 2008|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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