I'm out of the loop on Geitner

Yeah it seems like everyone is turning against him. For someone who was the NY Fed President, he should know the market likes transparency and he has been anything but that. I'd be willing to bet a nice rally in the market if he was replaced.

Here's an article that might put you back in the loop:

http://www.nytimes.com/2009/03/19/business/economy/19geithner.html

 

Most media have given Obama a free pass on all issues for the past two years so when the media starts attacking an Obama appointee, there's really trouble in paradise.

Obama's arrogance may prevent him from giving Geitner the boot but he may not have a choice to maintain any credibility.

Regardless of the outcome, I hope they don't let him (Geitner) speak publicly while the markets are open.

Referencing the last admistration's failures is just an excuse. This was supposed to be the administartion with ALL the answers. If that's true, so far they haven't shown them. There's always HOPE!

 

Sheez, the one to talk.:hihi:
Its not like he lead us into a costly war or forgot to put someone competent over FEMA.

thats for you Purple

 

It is on Dodd and Geitner both, but you have already seen what Dodd is doing once he realized his fingerprints were all over the provisions - he blamed the treasury. And Geitner was at the Fed when the contracts were made. Yes, he knew about them. In the scheme of things, these bonuses are a pittance and I can see why Geitner gave them little thought, but politically they are huge.

Items that cannot be ignored in the current dog and pony show on capitol hill right now.

1. Geitner knew about the contracts when they were written.
2. Dodd, in conjunction with the Treasury and only democrats, changed a provision in the stimulus bill to allow them.
3. Nearly all of the democrats in Congress, and a few repubicans(11 reps? no senators?) voted for the stimulus bill and now claim they did not read it as their defense.
4. Obama promised a reasonable transparency(5 days?) for review of pending bills but the stimulus did not get that.
5. Congress is now acting outraged at the new head of AIG, even though he didn't write or approve of the contracts - in fact congress approved them.
6. Apparently several AIG bonus recipients have offered to give back most or all of their bonus.
7. Barney Franks wants to publicly subpoena the employees that have not already done so, despite said employees receiving death threats.
8. Obama has proclaimed complete confidence in Geitner which is the final salvo before you get axed. Over/under is about when he will be gone, not if.
9. Obama wisely went out campaigning instead of staying in Washington.


The whirling dervishes continue to whirl. IMO, this one is on congress, not Geitner, though he knew about it, but unlike Dodd and Congress, he won't get a pass. In a year or two, some members of congress may not either.

 

It was always a running joke between brokers at my old firm to sell everything whenever Geithner was speaking, but buy when Obama was on TV. The sad thing for Geithner was that most of the time it held true.

 

Referencing Bush continually, in order to defend or indite the current administration is a total distraction. Bush made plenty of mistakes and they stand on their own. Obama is racking them up on himself, and he should get tarred with his own feather.

 

you're right. And it's not like he f**ked an intern in the oval office.

:thumb:

 

Thanks Mr. FactCheck.org. :grin:

I knew when I wrote it newsworthy wasn't the right word. I guess what I'm trying to say is that these appointment issues are constant and are defining his first 50 days. That didn't seem to happen with W. Not that it matters anyway. The point is, he doesn't want to have another cabinet issue.

 

and you wouldnt if you had the chance to?:hihi:

well not the one he did. But a really hot intern.