Tim Geithner Should Copy Hank Paulson and Calm DOW By Declaring That Worst Is Over

[Median Democrat]

I was watching CNBC complain about the delay in announcing a plan that will fix Bush's financial crisis, and blaming Tim Geithner's failure to articuluate a detailed and comprehensive plan for the fall in the DOW. I was thinking that they may be right, since similar feel good words from Hank Paulson managed to delay the current drop in the DOW:

http://www.forbes.com/feeds/afx/2008/05/07/afx4978703.html

/snip

WASHINGTON (Thomson Financial) - The credit crisis that has scorched international financial markets is on the wane but more shocks are ahead, U.S. Secretary Treasury Henry Paulson told the Wall Street Journal in an interview published on Wednesday.

'The worst is likely to be behind us,' Paulson told the paper, in one of the most optimistic comments by a top U.S. finance official since sub-prime mortgage losses set a domino effect in motion in mid 2007.

Paulson said it would take 'some months longer' for the situation to stabilize and cautioned there would likely be further 'bumps along the road'.

But, he said, 'there's no doubt that things feel better today, by a lot, than they did in March.'

/snip

Perhaps we need more immediate happy talk from Tim Geithner and for him to announce a solution, any solution, as the a fix for the crisis. Look it worked for Paulson in delaying an immediate implosion in the DOW.









Kidding!

:hide:

[lxlxlxl]

1. funny...wish there was an easy answer...

the thing that has really bothered me is the way economic issues are probably the most complicated and difficult issues that a nation can face, and our media is in absolutely no position to be able to cover it responsibly. you can't go from sarah palin's candidacy and lindsay lohan to credit default swaps and mortgage backed securities and expect reasonable coverage.

this is where political economy, 24 hour information streams, and late capitalism collapse together...complete mindfuck depending on how prepared you are...