Reply #53: Geithner's ties are to the Fed, to Rubin, to Summers

[Tansy_Gold]

http://www.nytimes.com/2008/11/22/us/politics/22policy.html?hp

there are a lot of people who have been "warning" of collapses and problems, but far more important is what they propose as solutions.

Geithner has been working with Bernanke and Paulson on the current spate of bailouts. As head of the NY Fed, he has close ties to Wall Street. As a protege of sorts to Rubin -- and Rubin himself is now an Obama appointee -- there are additional ties to Citi. Geithner also has ties to Summers. And since both were Treas Secy under Clinton, with the ties to Gramm and repeal of Glass Steagall, Geithner is hardly free of taint.

Insiders, insiders, insiders all.

Change? where? I don't see any change. . . . .

As for the 3% tax increase, it isn't so much the AMOUNT of the increase as it is that there would have been one. The mere announcement of Geithner's appointment as Treasury Sec'y is given credit for boosting the stock market two days in a row. Has to be merely psychological effect, since he hasn't proposed let alone implemented any policies. So what kind of psychological effect could the imposition of a 3% tax hike have on the millions of tax payers who see Obama following through on a big campaign promise? And likewise, what kind of psychological effect would the FAILURE to implement that hike have? What kind of ammunition will it give the opposition, regardless how weak, fractured, and demoralized the opposition may be at the present time? Obama becomes a flip-flopper, a liar. No better than booosh.

How many voters were reluctant, for whatever reasons including but not limited to simple racism, to vote for Obama but did so because they were finally persuaded that he was going to act in their best economic interest? How much support will his reneging on that promise cost him?


It has already cost him




Tansy Gold

Tansy Gold