An Inauspicious Start for Geithner

I was moderately positive on the nomination of Tim Geithner for Treasury Secretary, giving him a "B" when I graded Obama's appointments. Since the appointment, however, he's been less than impressive. First up was his little tax problem. No big deal. I'm sure there would be no negative ramifications if any of the rest of us owed $17K in taxes and interest from five years ago.

It’s Time to Nationalize the Banks

Yes, that's what I said. I'll say it again: It's time to nationalize the banks. I say that as a die hard libertarian with impeccable free market credentials. Even at this point, my preference would be to let bad companies fail. But, our "leaders" in Washington have made it clear that they're not going to let that happen. They're going to prop up the failing companies, and the core problems will not be solved.

Sequoia Capital Mandatory CEO All-Hands Meeting

I just received the following document, which describes a meeting Sequoia Capital had with the CEOs of all their companies. While I was not in attendance myself, I have every reason to believe things happened substantively as described:

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Today, Sequoia Capital hosted a mandatory CEO All-Hands Meeting on Sand Hill Road (where else?). There were about 100 CEO’s in attendance and let me tell you, the mood was somber. I’m not one to perpetuate doom