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HuffPo on Geithner's "CONFIRM BERNANKE OR ELSE" Fatwa

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Amerigo Vespucci Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 11:22 AM
Original message
HuffPo on Geithner's "CONFIRM BERNANKE OR ELSE" Fatwa


http://www.huffingtonpost.com/2010/01/25/geithner-warns...

Geithner Warns That Markets Could Dive If Bernanke Is Not Reconfirmed (VIDEO)

Treasury Secretary Tim Geithner, in a recent interview with Mike Allen of Politico warned that the financial markets could react negatively if Fed Chairman Ben Bernanke isn't confirmed for a second term. (READ Politico's full story here.)

Geithner suggested that the market would see a failed Bernanke confirmation as "very troubling," but claimed that he was "very confident" Bernanke would receive enough Senate votes to win a second term.

"The markets would view this as very troubling thing for the economy as the whole," Geithner said. "I don't think they should be uncertain. I think they can be confident because we're very confident."

Predicting that the U.S. economy will begin to show positive job growth by this Spring, Geithner added that Bernanke has done a "remarkable job of guiding this economy through the recession."

The Treasury Secretary also expressed some sympathy for the millions of Americans still struggling to find work, or otherwise impacted by the financial crisis. The country is "in a moment where people are incredibly angry and frustrated by the damage this crisis caused...You see that across the country. That's perfectly understandable, and everybody involved in this effort is bearing a lot of the brunt of that frustration and anger."

In the second portion of the interview, Geithner said that the financial rescue program which "was designed to bring capital back into the financial system so banks could lend again" was "remarkably successful."

"The cost of credit and the ability for businesses across the country " was stabilized by the bailout, Geithner said, while acknowledging that the small business market is still having trouble getting credit.

WATCH: http://www.huffingtonpost.com/2010/01/25/geithner-warns...


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notadmblnd Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 11:38 AM
Response to Original message
1. He can say that when Wal Mart just announced 12,000 layoffs?
Jobs will recover by spring? Now I don't have no MBA but I don't see what Timmah sees.
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 12:08 PM
Response to Original message
2. And who said all terrorist were from the middle east?
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Winterblues Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 12:11 PM
Response to Original message
3. He should be let go as well as Bernanke..
I am sick of Republican/Goldman Sachs management.....
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cutlassmama Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 01:08 PM
Response to Reply #3
7. I agree 100%.
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arthritisR_US Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 01:57 PM
Response to Reply #3
11. yep. n/t
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Fleshdancer Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 12:18 PM
Response to Original message
4. He really has some nerve pulling this crap again
I'm sick and tired of the "financial market sky will fall!!!1!1!!" from this Chickensh*t Little. If he wants Bernanke to stay, isn't enough to just list the reasons why without using fear tactics or is this the only way this guy knows how to communicate?
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izzybeans Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 12:20 PM
Response to Original message
5. "The market" vs. the electorate.
Edited on Mon Jan-25-10 12:21 PM by izzybeans
Why no concern for the electorate?
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taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 01:05 PM
Response to Original message
6. He needs Bernanke to keep buying treasuries
not many other buyers out there.
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TexasObserver Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 01:15 PM
Response to Original message
8. I'd like the president to flush those two at the same time.
Geithner is even worse than Bernanke. They're both Wall Street GOP Bush retreads.

The fact that the president even listens to Geithner, Bernanke, and Summers makes me doubt his ability to fathom the problems in the economy. If he can't even pick good advisers, how he can wisely choose?
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belpejic Donating Member (431 posts) Send PM | Profile | Ignore Mon Jan-25-10 01:21 PM
Response to Original message
9. This guy is so remarkably out of touch
The fact that he's so disconnected from reality and still trying to influence public perception makes me question Obama's judgment. Re-capitalize banks so they can start lending? GIVE ME A BREAK. It's more like recapitalize banks so they can continue to speculate in markets, hoard capital instead of lend, squeeze existing customers, and redistribute their artificial profits to employees (rather than taxpayers or shareholders) as bonuses.

This guy is so unbelievably clueless it just boggles the mind. It is truly stunning. If Congress didn't get the message before that they should be clamoring for this guy's ouster they should have just gotten a huge smack to the back of their collective head. There's no reason why there shouldn't be strong bipartisan support to dump this clown.
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HillbillyBob Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 01:56 PM
Response to Original message
10. fire geithner too!!
nt
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Javaman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 03:40 PM
Response to Original message
12. Trying to save his own skin I see...
if asshole bernanke goes, little timmy knows he's not far behind.
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gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 03:54 PM
Response to Original message
13. I thought it was Alan Greenspan
The only Indispensable Wise Man of the Economy, without whom we'd all be lost, forever lost! This is beginning to sound a lot like the banksters' Great Ransom Note of 2008, when they claimed that without a trillion dollars out of the Treasury, and that right quick, the economy was going to fail. Fail, I tells ya!
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Smashcut Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:09 PM
Response to Original message
14. When is the BLACKMAIL going to stop?
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donheld Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 11:36 PM
Response to Original message
15. I'll choose Else
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Sultana Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 11:43 PM
Response to Original message
16. THIS BITCH!
ugh

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neverforget Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 11:47 PM
Response to Original message
17. Reminds me of this from Blazing Saddles
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EmeraldCityGrl Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 11:48 PM
Response to Original message
18. Read a post yesterday...

"Sadly, it seems like Obama's in it up to his ears with Bernanke ... using the Fed's balance sheet to prop up the gov't bond market as the "enormous anonymous buyer" that the bond pit traders are talking about ... and running up the equity markets via the futures markets as the "huge anonymous buyer" that hedgies have been describing."

Wondering what this is all about.
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