Help Wanted at the U.S. Treasury

The U.S. Treasury is having trouble staffing its team at the very height of the current economic maelstrom according to an article in the New York Times.  Last week, the nominee for the number two position at the Treasury withdrew herself from consideration while many positions remain unfilled.  The lack of qualified personnel is beginning to impede the progress of major initiatives such as the anticipated regulatory reform blueprint that was slated to be unveiled at the upcoming G-20 summit in London.  Here is what the Times reported yesterday.

Administration officials say they are postponing their plan to produce a detailed road map for overhauling the nation’s financial regulatory system by April, in time for the Group of 20 meeting in London. Though officials say they will still develop basic principles in time for the meeting, the plan will not include much detail.

Lack of detail creates a great deal of uncertainty.  Uncertainty is exactly what our fragile financial markets cannot support in times like these.  Let's hope that Secretary Geithner can quickly staff his team to begin filling in the gaps in his plans.