1/During a financial crisis, @USTreasury Sec Paulson understood in transition it was his job to help the Fed and the incoming Admin establish a basis for strong, cooperative efforts to contain the crisis. Sec.Mnuchin has done just the opposite. wsj.com/articles/mnuch…
2/In these complex times, there is room for debate on what types of government intervention in credit markets are appropriate.
There's not much room for debate on the merits of maintaining stanbdy capacities.
There's not much room for debate on the merits of maintaining stanbdy capacities.
3/ We cannot predict when or if a panicky cascade will happen in credit markets. Aftershocks after financial crises (and earthquakes) are not uncommon. Removing a capacity to respond as @stevenmnuchin1 has sought to do is wrong.
4/Can't imagine why @stevenmnuchin1 -who has seen himself as a serious financial technocrat-would ally himself w @realDonaldTrump “burn the house down" approach. Officials underneath @stevenmnuchin1 -whose terms are ending very soon anyway- should consider symbolic resignations
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