Thursday, June 5, 2014

Simple, Dolt Rises to Treasury Secretary and Saves Financial World

Vice's book review of Timmy Geithner's polished auto-reflection states:

Geithner wasn’t a good student. He notes, as a grad student, that he mostly played pool. “During my orals, when one professor asked which economics journals I read, I replied that I had never read any. Seriously? Yes, seriously. But not long after we returned from our honeymoon in France, Henry Kissinger’s international consulting firm hired me as an Asia analyst; my dean at SAIS had recommended me to Brent Scowcroft, one of Kissinger’s partners.” I’m sorry, but what? How does this just happen? And it goes on. One day, when Geithner was a junior Treasury civil servant, Treasury Secretary Lloyd Bentsen just called him out of the blue to ask his advice on a matter about which he knew nothing. Why? He doesn’t say—he’s just puzzled. 
Either Tim is a modern day Chauncey Geithner (Being There) or he's following the insider code, as illuminated by predecessor Larry Summers.  Stories must be retold for each generation.  Tim's is as good as any for the simpleton rising to the top from sheer luck.