In Tim Geithner's defense ...

[TheCoxwain]

Ok ...I ve been one of his critics ... I posted a rant about him just a few days ago ... I was peeved he wasnt moving fast enough towards nationalization of big banks.. ( mostly my opinion was shaped by talking heads on NPR )

But I have had a change of heart. I figured given that Obama is smart in so many respects - I am not about to believe that ego and certitude is consuming him on this issue - If he is backing Tim Geithner on an issue that he has spent months thinking about and soliciting opinion from more than just a handful ... I will refuse to believe that decisions are being made without full consideration ...

Tom Friedman ( I know that he is a reviled figure) points to pitfalls of receivership ( or temporary nationalization or whatever you might want to call) which could lead to unintended consequences. The thing is I dont know shit about counter guarantees for derivative contracts and how will the dominoes fall with the current approach vis-a-vis a more aggressive approach to nationalization - and I suspect a lot of us are in the same boat. So let us get behind the man we elected to Office with such enthusiasm .. I am not asking you all to fall in line ..

This is complex issue and it will be a while before even the experts can figure out what will work and what wont .. Otherwise they wouldnt have let Lehman fail ... The shit really hit the fan with Lehman ....even Paulson couldnt see the consequences of that decision .... Bottomline - this is a hard problem and will require persistent and honest effort.From what I can see Tim Geithner is chipping away at the edges with a view to not to make a bad situation worse. Most of us would like him to use a wrecking ball - but give him some time before calling for his head. By time - I mean 1 year not 2 weeks.

[NRaleighLiberal]

1. We have become a society of expecting 8 week fixes to an 8 year problem.

We think that the world works like a laptop on cable modem, but thinking through problems and solving complex, interrelated issues is still like dial up.

Our impatience is leading to our undoing, and we see it everywhere.

[MADem]

2. The man definitely knows his way around the issues.

A recent FRONTLINE detailed his level of expertise, which is significant.

The problem, though, is that the guy is responsible for the agency that collects TAXES, and he didn't pay his. Of course, that is a public relations imbroglio--how can he enforce laws that he flouted himself?

That's not the only role he plays, though--though it is the one that is most visible to Joe Sixpack.

He also is responsible for the SECRET SERVICE, as they fall under the Treasury Department, too.

[Larkspur]

3. Geithner was asleep at the wheel when he was in charge of the NY Fed

He's a Rubin disciple and Rubin is a Republican in Dem clothing and so are his disciples.