Just found this site while googling Tim Geitner. Could not agree more with your statements. The article below is what got me fired up. If he really thinks our anger is directed only at the bank CEO's, he is a total idiot. Hey, maybe the bank CEO's just don't understand finance. There's plenty of blame to go around. Problem is nobody will stand up and admit they were wrong about any of this mess.
Geithner: Bankers to Blame for Loss of Confidence Topics:Banking | Economy (U.S.) | Economy (Global) | Timothy Geithner | White House | Congress | Politics & Government Sectors:BanksBy: Reuters | 25 Feb 2009 | 05:41 PM ET Text Size U.S. Treasury Secretary Timothy Geithner on Wednesday scolded bankers for creating a damaging loss of confidence, but said nationalizing banks was the wrong strategy for the United States.
RELATED LINKS
Current DateTime: 01:23:45 26 Feb 2009 LinksList Documentid: 29394471 Why More Banks Aren't Allowed to Fail The Looming Credit Card Crisis Why Nationalizing Banks Is Market Friendly Bank Stress Tests Completed by End of April
In an interview with Public Broadcasting Service's "Newshour" program, Geithner said he was "deeply offended by the quality of judgments we've seen in the leadership of our nation's financial institutions."
"They've created a deep hole of public distrust and anger which is enormously damaging, and they have a huge obligation to try to restore that basic trust and confidence. And we're going to make sure they do it by making sure that our assistance comes with conditions," he said.
captaindigital
· 10 months ago
Yep. My dad used to tell me, no matter how noble the idea, it had to walk in on two clean feet. Geitner may be "the smartest kid in the room," (I have my doubts...BIG doubts), but he has zero credibility - not just because of his tax problems, but because he was the architect of TARP I - an unmitigated disaster.
The real problem here is when the government started gaming the system to achieve political goals (i.e.: get more people to buy houses...that they couldn't afford), eventually, the system breaks down. To see the guys that screwed it up (Chris Dodd, Barney Frank, TIm Geitner, etc.) all pointing the fingers elsewhere and claiming only THEY can fix the system, is reminiscent of O.J. hitting the golf links to find his wife's murderer.
Somebody buy these guys some mirrors (so they can see the source of the problem) - and maybe dose them with sodium pentathol before their next news conference.
All Comments
Geithner: Bankers to Blame for Loss of Confidence
Topics:Banking | Economy (U.S.) | Economy (Global) | Timothy Geithner | White House | Congress | Politics & Government
Sectors:BanksBy: Reuters | 25 Feb 2009 | 05:41 PM ET Text Size U.S. Treasury Secretary Timothy Geithner on Wednesday scolded bankers for creating a damaging loss of confidence, but said nationalizing banks was the wrong strategy for the United States.
RELATED LINKS
Current DateTime: 01:23:45 26 Feb 2009
LinksList Documentid: 29394471
Why More Banks Aren't Allowed to Fail
The Looming Credit Card Crisis
Why Nationalizing Banks Is Market Friendly
Bank Stress Tests Completed by End of April
In an interview with Public Broadcasting Service's "Newshour" program, Geithner said he was "deeply offended by the quality of judgments we've seen in the leadership of our nation's financial institutions."
"They've created a deep hole of public distrust and anger which is enormously damaging, and they have a huge obligation to try to restore that basic trust and confidence. And we're going to make sure they do it by making sure that our assistance comes with conditions," he said.
The real problem here is when the government started gaming the system to achieve political goals (i.e.: get more people to buy houses...that they couldn't afford), eventually, the system breaks down. To see the guys that screwed it up (Chris Dodd, Barney Frank, TIm Geitner, etc.) all pointing the fingers elsewhere and claiming only THEY can fix the system, is reminiscent of O.J. hitting the golf links to find his wife's murderer.
Somebody buy these guys some mirrors (so they can see the source of the problem) - and maybe dose them with sodium pentathol before their next news conference.