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Fallout: The Financial Crisis

A smooth transition in the Treasury

John Dimsdale Nov 7, 2008
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Fallout: The Financial Crisis

A smooth transition in the Treasury

John Dimsdale Nov 7, 2008
HTML EMBED:
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TEXT OF STORY

Steve Chiotakis: There’s another transition presidential transition going on at the Department of Treasury. Here’s John Dimsdale.


John Dimsdale: When the incoming and outgoing presidents are from different parties, it’s customary to keep newcomers at arms length until Inauguration Day.

But at the Treasury Department, Brookly McLaughlin says Obama’s economic team will be welcomed with office space, briefing books, and advance notice of important upcoming decisions.

Brookly McLaughlin: We’re all here very dedicated to making sure that we can provide the information and the support to the incoming team that they’re going to need to hit the ground running on January 20.

Transition veteran Scott Lilly at the Center for American Progress says Treasury is setting the gold standard.

Scott Lilly: Probably greater cooperation at Treasury than anywhere else. But there needs to be because we need to have a seamless policy on this financial crisis going through this interregnum.

Lilly says the Defense Department also has a cooperative transition process, which he says is a good thing since this is the first wartime presidential changeover in a generation.

In Washington, I’m John Dimsdale for Marketplace.

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