Geithner says he will stay at Treasury

All of these banking crooks need to go.......including Bernanke. The only thing they are good at, is making sure the profits of banks land in their accounts......

The QEI and QEII have accomplished only two major things:

They provided the funds to indirectly bail out Greece and help the EU. They provided the liquidity for the largest U.S. banks to, in turn, have quarterly profits in the tens of $billions. It was a sham that the Fed reserve and treasury funded under false pretenses. The results are that Greece is truly in default and the immense wall street bubble is nothing but that--hot air. Greece et al, are still in need of bailouts and the EU is again waiting for the U.S. to do another QE to fund them. Now, the Federal Reserve chair Bernanke and Geitner are considering another QE(III). THIS IS INSANITY.

It is time for the Wall Street rich to join the rest of us in our suffering and for the EU to handle its own problems.

My source for the QE comment: This is a very enlightening read . Well worth your time.

http://www.zerohedge.com/article/exclusive-feds-600-billion-stealth-bailout-foreign-banks-continues-expense-domestic-economy-?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+zerohedge/feed+(zero+hedge+-+on+a+long+enough+timeline,+the+survival+rate+for+everyone+drops+to+zero)

Please, please go Timmy. Obama brought in Geitner to get an insider's perspective, to get someone who, if you're to believe all of the hype about Obama's liberalism, is against everything he's supposed to stand for. And instead, he got a typical bullish "Independent" (read: Republican) who's dragged the debate so far to the right that the happy medium that should work best for the country is still the same old crap that got us into trouble in the first place. Geitner's a disaster. And the people Obama's looked at to replace him are as bad or worse. Obama's failure to be a strong Democrat has made him almost worse than a Republican.

Pssst Mr. President, the majority want Geithner to leave!

"The majority" of what?

He has done a great job of destroying our economy which is exactly why Obama wants him to stay. Obama has surrounded himself with far left extremist (czars-check each of them out for yourself) and the first thing that has to be done to transform America into a socialist state is to collapse the economy and that is Obama's meaning of transforming America.

This statement from Secretary Geithner must be why the markets are tumbling today. I know I am scared that he is staying on. He has been a failure at his post.

That's my take, not yours.

Timothy Geithner has done exactly what he was told -- the only failure has been a Congress that consistently ignored him simply because they didn't like his boss.

Oh, you're right, justify inadequacy with prior inadequacy and call it a day. Sounds like a "have not" ideology to me. Accept it, Geithner is a bad choice.

... So you're OK with Geitner?

Wow, I hear crickets around your post.

Agreed, the Democrats in the House and the Senate are to blame for the mess. They held the house at that time and leading up to it. They really have hurt this economy.

Wait, what about the lead up to the mess? As I recall, the Democrats owned the Congress from 2006 until 2010. Up until that point, everything was OK. Hmmmm.

That's my take, not yours.

And the actions of the Democrats cost them the House in 2010 -- THAT was their punishment.

As I recall Republicans took control of the House of Representatives in January 2011 -- that makes everything that's happened since then THEIR responsibility.

During this admin. there's never been a clear path to legislation, too many Blue Dogs and always a filibuster around the corner in the Senate, so let's not go blameless there right wing.

MJ - Then based on your statement, everything that's happened since January 2009 is President Obama's responsibility? Please don't mention inheritance, I could use the same argument.

Stimulus failure, Oil Spill, Afghanistan Surge, Libya, Economy, Massive Unemployment, Gasoline Prices, Iraq, Russian relations, Chinese Relations, Loss of Dollar Value, Bush Tax Cuts, Guantanamo Bay still open, etc.

I was bashed a week ago for quoting Disney's customer service mantra: It may not be his fault, but it is is problem.

Carol - You are right, the rightwing is not without blame. However, it was the same under then President Bush. The Democrats perfected the idea/use of the filibuster, now the Republicans are using it like there's no tomorrow. Then the Democrats cry foul? Let's not forget how the Health Care bill was passed into law? The lefties eliminated the debate in the Senate to pass the law.

That's my take, not yours.

And when you finally lose your cushy job, I expect to see you out there scrubbing toilets, and sweeping sidewalks for minimum wage (if not under the table for 3 bucks an hour) with NO benefits whatsoever.

We'll see just how long the Babylon monkey can do that, and still make it's mortgage payments and other bills.

There are places even those jobs don't exist, where do some of you people come from anyway!! In our two county rural area there are about 25-30 jobs listed in the paper at any given time, so about 12-15 of those and sometimes even more are specialized. So now, if you don't have those qualifications, I guess you move. You don't have money for gas, running around finding somewhere that has these pizza jobs, nor do you have a place to stay while looking. It isn't as easy as getting a pizza job, WHEN you lose your job, you'll know. And no I'm not looking I'm good with what I do, but there are those that do, until you are one of them, count your blessings and ask for some for your fellowman.

There are handful of Tea Partiers! And, the economy was growing until Nov. 2010? Give me a break!

"The economy was growing until the tea Part took office"

Now I don't care who you are, that is FUNNY ! ROTFLMAO.....LOL. I'm sorry, I just can't take that as a serious in depth analysis of why we're in this economic Keynesian nightmare. LOL

Shelly - You must be one of the 50% that doesn't pay taxes. We need to cut spending and do something to provide an incentive for people to invest in the private sector. This whole issue proves that Big Government does not work. It's not a good thing to be so dependent on the government - we need to rely on ourselves.

Shelly - Your statement could be construed as blaming those not responsible for the economic crisis. Let's not forget that the "Tea Party" only came about because of the economic crisis. They have a few candidates in Washington, and they are to blame? Seems a little weak. The lefties are yelling, it was the Tea Party, yea, that's it. They never accept the blame, when they are due for it.

Leadership, someone needs to lead in this country for the benefit of the country, not what will get them re-elected.

Just my take, not yours.

Why should Geithner walk the plank for Congressional dithering?

He told them SIX months before, he told them FOUR months before, he told them in MAY when he was having to -- essentially -- pay one credit card with another just to stay afloat, and NOW we all receive the consequences of said Congressional dithering (the downgrade), suddenly it's Tim Geightner/Obama's fault?

If Republicans didn't want to do the "hard work" of actually running the House of Representatives -- which Constitutionally is where ANYTHING RELATING TO THE BUDGET/SPENDING begins -- then I guess they shouldn't have spent themselves into bankruptcy last year chasing it like a dog after a car.

Nope, they caught it NOW they get to sit in it up to their necks just like everyone else.

MJMullin

wanna talk about the 4 trillion in cuts Budget the GOP Congress passed earlier this year ? Does the Ryan budget ring a bell ?

I think it had everything that the S&P wanted.....yep, I'm sure it did.

Then you'd be wrong -- The President's plan, however, DID have everything they wanted, INCLUDING $4 Trillion in Deficit reduction using $3 Trillion in cuts and $1 Trillion in Tax Increases.

You balance the budget simply by getting rid of the low-hanging fruit, sooner or later something you DON'T want to give has to be given. For Democrats it was reforming Social Security and Medicare, for the Republicans it's tax increases.

You can't just sit in the corner with your arms crossed screaming "my way or the highway" and then get self-righteous when everyone says "highway" -- doesn't work that way (unless you in Kindergarten, anyway).

And Obam's plan was voted down 97- in the Senate- It was a tertible plan -Dems and Reps voted against it

MJ - Boston is right, the Obama Budget plan was voted down unanimously. Not one person voted for it. Everyone hated it. It's all just politics.

Just my take....

Guess you missed the Cut,Cap and Balance bill?

To recap again, the Treasury goes to Congress, tells them about the pending housing crisis if there is no regulation around Fannie Mae and Freddie Mac. Barney Frank, Maxine Waters and a few other Democrats blame the Bush Administration for inciting fear and choose to do nothing. To them there is no problem at all.

Then, the housing market crashes and Fannie Mae and Freddie Mac cost the American taxpayers BILLIONS. They then blame President Bush?

Absolutely incredible.

Just my take.

Conspiracy theories involving "they" or "them" are simply ways for the poor and powerless to try and explain to themselves why they are poor and powerless.

No different than people who see lights in the sky and say their aliens simply because they don't know what they really are.

We -- at this moment -- have the exact same government we had ten years, twenty years, thirty years, etc., all the way back to the founding of the Country over 200 years ago. All that changes are the faces on those in it and what they call themselves (Democrat, Republican, Whig, etc.), not what it is.

No one is "holding you back".

The black man isn't holding you down -- the white man isn't holding you down -- the government isn't holding you down.

Again, blaming generic targets (as you have consistently) is simply what people who know nothing do to explain why they are poor/powerless.

YOU are responsible for your successes AND your woes.

I have a job -- a job I like -- thank you.

Alas, some one who gets it.