One of GW's big failures as president was his inability to hire capable people. Obama has a similar problem in that he relies too much on Wall Street 'experts'. The latest one is Antonio Weiss, who has been nominated for Under Secretary for Domestic Finance at the U.S. Department of the Treasury. There have been a number of economists who don't think Weiss is qualified for the job, despite his being pushed by the Dealbook editor for the NY Times.
The duties of the Under Secretary are “advises and assists in areas of domestic finance, banking, and other related economic matters. It develops policies and guidance for Treasury Department activities in the areas of financial institutions, federal debt finance, financial regulation, and capital markets.”
He is the third most senior official in the executive branch with regard to fiscal decision-making.
Mr. Weiss knows the merger business, especially international mergers but he does not appear to know anything about regulation and the Dodd Frank focus on regulation. But he is a Wall Street insider.
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