Another big voice observes that Tim Geithner needs help.
Bradley, managing director of Allen & Co. LLC and a one- time Democratic presidential candidate, said Volcker’s Economic Recovery Advisory Board can offer a “balanced view” to White House insiders such as Treasury Secretary Tim Geithner and National Economic Council Director Larry Summers.
“The wise decision would be to invigorate that committee and give him real authority,” Bradley said of Volcker. Obama would “have the best on the outside and the best on the inside.”
Volcker, 81, has called for a two-tiered financial system that would limit risk-taking by the most systemically important firms, an idea that Summers and Geithner haven’t embraced.