Reply #157: Geithner is too close to Wall Street.

[JDPriestly]

I don't care if he was a "public servant." He worked for Kissinger. He worked for the Fed. He has too many cronies on Wall Street. He does not have the independence and distance to regulate his buddies. He has shown that by not realizing the fact that these AIG bonuses and the payments to foreign banks are unacceptable to any normal tax-paying, hard-working American.

Speaking of foreign banks, one such is USB, which Robert Scheer pointed out on Democracy Now is getting a larger gift from the bail-out than it is paying back to the U.S. government for the unpaid taxes of Americans hiding taxable income in its accounts.

The basic concept of the economic policy of the Obama administration is wrong. We do not need to encourage more credit, more borrowing. We need policy that will increase wages to Americans and give Americans the opportunity to earn the money to build our economy and avoid accruing debt they cannot pay back.

The fundamental approach is wrong. A strong house is built on a strong foundation on solid soil. Obama is trying to build the house in an inverted pyramid, strengthening and widening the top of the structure (the financial sector) and weakening the base (the incomes of ordinary people and manufacturing). Such an edifice cannot stand.