The disappearing of Tim Geithner and Larry Summers

By Andy Serwer, managing editor

(FORTUNE) -- Observations, questions, and commentary on today's business news headlines. Streetlife IS the Captain's Blog:

Who's in Charge?

One thing about the Obama administration is that sometimes it seems like people fade in and out of the picture. Like Paul Volcker: Now you see him, now you don't. Lately I've been wondering about Tim Geithner and especially Larry Summers. MIA a bit, don't you think? This in the midst of a major push to get financial reform. Okay, Tim's been around some, and been overseas too of course, but where's Larry? I kind of get the feeling that the shots are being called more by Obama's White House inner core: Rahm Emanuel and the two Davids -- Axelrod and Plouffe. I think these guys are very keen on getting things lined up for the November election, which perhaps trumps the financial guys' agenda.

BP. Beyond Petroleum . . . right

I'm still not sure BP (BP) gets it. Americans are mad and madder about this spill. That this is a British company that says it's the groovy green Big Oil company --but which had a refinery blow up in Texas in 2005 that killed 15 and also leaked oil all over Alaska out of its pipeline -- doesn't help. If you go to its website you can see the Gulf disaster seems to have the company's attention. But it's not enough. BP and CEO Tony Hayward need to focus completely on this. BP is No. 4 on the Fortune Global 500, which is to say it's the fourth-biggest company in the world, after Royal Dutch (RDS.B), Exxon (XOM, Fortune 500), and Wal-Mart (WM, Fortune 500). BP has over $250 billion in revenues and some $20 billion in profits. It's time to put up, old chums.

Blankfein in India

The Goldman CEO just returned from India, where he did his very first TV interview outside the U.S. (L.B. never used to do TV -- looks like he's starting to take a shine to it now...) One newspaper headline over there irked GS brass. "Blankfein Doing God's Work." Uh-oh, not that old line again, they moaned. Turns out no, it was unintentionally coincidental and laudatory too. Or so the newspaper editor claimed.

Loose Change:

I was at a Nationals game last week and was walking near Ted Leonsis, former AOL mogul and soon-to-be owner of the Washington Wizards. Nationals fans recognized him and started chanting "John Wall! John Wall!" Wall, of course, is the freshman phenom University of Kentucky basketball player and presumed No. 1 pick in the NBA draft. A pick the Wizards hold. Ted just smiled and waved ... I may be the last to know, but three of my favorite spirits in Hollywood have come together: the Coen Brothers, John Wayne, and Jeff Bridges. Yep, the Academy award winning C Bros. have cast Jeff Bridges in a remake of True Grit, the film that won Duke his Oscar. Yes, Jeff plays Rooster Cogburn -- oh, and Matt Damon plays the Glen Campbell role. Yee haw! To top of page

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Company Price Change % Change
Bank of America Corp... 16.01 -0.38 -2.32%
Facebook Inc 59.31 0.22 0.37%
Yahoo! Inc 36.55 2.34 6.84%
Intel Corp 26.93 0.16 0.60%
Alcoa Inc 13.30 0.25 1.92%
Data as of 12:08pm ET
Index Last Change % Change
Dow 16,389.11 126.55 0.78%
Nasdaq 4,076.55 42.39 1.05%
S&P 500 1,857.57 14.59 0.79%
Treasuries 2.64 0.01 0.49%
Data as of 12:23pm ET


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