Tim Geithner: Foul-Mouthed Thug
It looks like Saturday Night Live now has a completely different side of Tim Geithner to lampoon: Treasury Secretary Timothy Geithner blasted top U.S. financial regulators in an expletive-laced critique last Friday as frustration grows over the Obama administration’s faltering plan to overhaul U.S. financial regulation, according to people familiar with the meeting. The proposed regulatory revamp is one of President Barack Obama’s top domestic | Read More »
Geithner Knew About AIG Bonuses; Treasury & Dodd Protected Them
Today Treasury Secretary Geithner gave an interview to CNN in an attempt to head off further inquiries into the Democrats’ handling of the AIG mess. What he admits is stunning: Velshi: One of the issues CNN and other news organizations have reported since late January, that AIG was going to pay about $450 million to about 400 employees of the AIG financial productions unit, which | Read More »
Barack Obama Should Take Some Advice from Jim DeMint
I don’t think that Jim DeMint necessarily has Barack Obama’s political fortunes in mind when he advises him to fire Tim Geithner, but it’s good advice anyway. In Washington D.C., it’s not hard to predict what usually happens to a politician in Geithner’s place. Several Republicans have called for him to resign; more will. The press will begin to ask many Democrats what they think. | Read More »
Why Are Democrats Protecting AIG?
A friend informs me that all but 8 House Democrats just voted against a measure to require the Obama administration to do everything legally possible to compel AIG to return to the taxpayers the controversial bonuses approved by Secretary Geithner. The bill is described here by its sponsor, Congressman Paulsen: This is the text of the bill: Section 1: The Secretary of the Treasury shall, | Read More »
Does Geithner Realize He’ll Soon Want to Spend More Time With His Family?
Today I had the opportunity to talk to Congressman Kevin McCarthy when he addressed the Heritage Foundation’s conservative blogger briefing. I asked McCarthy how House Democrats view Tim Geithner – based on his conversations with his colleagues across the aisle. McCarthy said that Geithner was in ‘dire straits’ – that he had blown his first impression, came across as the ‘man with the plan’ who | Read More »
Is Geithner Fighting for His Job?
Tim Geithner is heading to the Hill this evening to brief House Democrats on the administration’s bank rescue plans. This report seems to come rather suddenly; you can’t help but wonder why it’s suddenly important for Geithner to come to the Hill on just a few hours notice: U.S. Treasury Secretary Timothy Geithner will brief Democratic members of the U.S. House of Representatives on Monday | Read More »
Obama Betrayed by His Own Words on Market Collapse
Given the complete collapse in the Stock Market – and Wall Street’s obvious vote of ‘no confidence’ in the new administration, it’s funny to read the plan that Barack Obama laid out for himself just two months ago: …but the markets are obviously a slightly different situation. Right now, given the sensitivities of the market, I’ve got to pay some attention to market psychology because | Read More »
Obama Challenges Modern Record for Cabinet Screw Ups
National Journal has the story: Just as the dust was settling last week from the exits of Tom Daschle and Nancy Killefer, Sen. Judd Gregg, R-N.H., whipped up the tumult again. By pulling out of consideration for Commerce secretary, a post previously abandoned by New Mexico Gov. Bill Richardson (D), Gregg became the Obama administration’s fourth high-level dropout so far. But while this administration has | Read More »
TARP II Price Tag: Another Trillion?
Bloomberg reports on the news that Treasury Secretary and Tax Cheat Tim Geithner has delayed until tomorrow the announcement of the ‘TARP II’ request. White House Economics Director Summers says that they’ve pushed it off because they don’t want any distractions from the cloture vote today on the Obama-Reid-Pelosi debt spending bill. Summers is right about one thing: if the administration announced today it was | Read More »
Geithner Will be on a Short Leash
Rasmussen reports that Americans are evenly split on whether Tim Geithner should be confirmed as Secretary of the Treasury. Forty-one percent (41%) of U.S. voters say Geithner’s failure to pay Social Security and Medicare taxes in 2001, 2002 and 2003 should prevent him from being Treasury secretary, while the identical number (41%) disagree. Eighteen percent (18%) are not sure in a new Rasmussen Reports national | Read More »
Obama Back to the Drawing Board on Stimulus
The Post reports that the Obama team is changing course on its stimulus plan in response to criticism from Capitol Hill. Confronted with intense skepticism on Capitol Hill over the $700 billion financial rescue program, Treasury Secretary nominee Timothy F. Geithner and President-elect Barack Obama’s economic team are urgently overhauling the embattled initiative and broadening its scope well beyond Wall Street, sources familiar with the | Read More »