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Tuesday, January 13, 2009
Is Geithner Now Doomed to Fail?
Neil Cavuto, Managing Editor & Anchor
FOXBusiness
Missed tonight's Cavuto? Catch "The Deal" right here on FOXBusiness.com
It did in Kimba Wood.
And Zoe Baird.
And Linda Chavez.
Tonight, the question all of Washington is asking...
Could it do in Timothy Geithner?
Max Baucus, the chairman of the Senate Finance Committee that will decide his fate, says it's serious...But not nomination-busting serious.
Charges that Barack Obama's pick to be the next Treasury Secretary of the United States...employed an illegal immigrant, and perhaps more significantly, skipped paying "his own" Social Security and Medicare taxes for years.
It's doomed other Cabinet picks in other administrations.
But the Obama folks making clear this is a different case, a different time, and a very different crisis.
New Hampshire Republican senator Judd Gregg telling me just moments ago on FOX News Channel that he agrees....and that this issue is much ado about nothing much.
Senate Democratic boss Harry Reid agreeing...saying Geithner will be one of the finest secretaries of Treasury this country has ever had.
...most, for now, expressing complete support for a nominee The Wall Street Journal reports might have played fast and loose with immigration tax laws not only in the case of this housekeeper, but potentially, on other matters as well.
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FOX Translator
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
