In a sane world Tim Geithner’s tax troubles would have kept him from being confirmed as Treasury Secretary. Unfortunately, we don’t live sane and those tax troubles pale in comparison to what we’re learning about the Geithner led Federal Reserve Bank of New York’s role in the AIG bailout: The Federal Reserve Bank of New […]
Tim Geithner
WSJ: Geithner Under Fire Amid Frustration on Economy
Normally I’d say the calls for Treasury Secretary Tim Geithner’s resignation were just hot air but given the recent disclosures about his role in AIG bailout while President of the New York Federal Reserve Bank, I suspect this is more than just normal political blustering: Snowballing frustration about the economy burst into a political fracas […]
WSJ: Obama Advisers Set Groundwork to Raise Taxes on Middle Class
You don’t have to be an economist to realize the Obama Administration’s budget numbers don’t add up and that he’s going to have raise taxes on more than just those earning more than $250,000.00 to pay for his agenda. With that in mind it’s not surprising that White House economist Larry Summers and Treasury Secretary […]
Were Healthy Banks Forced Forced to Surrender Ownership Stakes to Government?
Were Healthy Banks Forced Forced to Surrender Ownership Stakes to Government? It’s question that needs to be answered… From reading this CNSNews.com piece it would seem at least a few “healthy” banks were forced into surrendering ownership stakes to the government: Last October, then-Treasury Secretary Henry Paulson ordered nine banks that the Treasury Department described […]
Tim Geithner is a Laughingstock in China, Too
Ouch, Treasury Secretary Tim Geithner who has become pretty much a permanent punch line here is apparently a laughingstock in China too (emphasis mine): U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency. A major […]
John Shadegg: Geithner Needs to Explain Shift
Congressman John Shadegg (R-AZ) wants to know why Treasure Secretary Tim Geithner isn’t facing tough questions over his apparent change in positions on China’s request to abandon the dollar as the global currency: (CNSNews.com) – An Arizona congressman wants to know why Treasury Secretary Timothy Geithner isn’t facing tough questions over his apparent about-face on […]
What Caused The Finacial Crisis?
A lot has been written about greed and mismanagement on Wall Street but that’s only half the story… Make no mistake greed and mismanagement played their part but so did government intervention and regulatory policy and that’s the largely untold story: Related Speaking of doom, what if Obama only makes it worse? – John Ibbitson, […]
Idiot: Geithner Speaks, Dollar Sinks
In remarks before Council on Foreign Relations today Treasury Secretary Tim Geithner said the U.S. is open to an SDR linked currency… Geithner later clarified his remarks by saying that “the dollar remains the world’s dominant reserve currency” and that that is likely to continue for some time, but the results of his remarks were […]
44 Out Of 800???
Chris Wallace tossed out an interesting factoid on Fox News Sunday this morning… Out of 800 cabinet positions that require Senate confirmation Barack Obama has only nominated 44 and of those only 28 have been confirmed. I’m hoping I heard that wrong it strikes me as being an absurdly low number seven weeks into an […]
Sydney Morning Herald: Geithner’s Incompetent
I wrote earlier that I believe the Obama Administration’s wanton destruction of our economy was the result of simple inexperience or incompetence rather than malice. Tomorrow’s Sydney Morning Herald seems to support that conclusion: When Barack Obama announced his champion to rescue the world from economic ruin, it was the first time most Americans had […]