Geithner On Move Your Money: Not A Good Idea (VIDEO)

[laughingliberal]

Treasury Secretary Timothy Geithner does not think that Move Your Money is a good idea.

Geithner addressed the campaign against too-big-to-fail banks during a recent interview with Politico. While Geithner said he understood the anger against bailed out banks and said it was fair of bank customers to expect more, he did not explain why he thought that it was a bad idea.

Move Your Money is a project that seeks financial reform from the ground up. Account holders with money at bailed-out banks are encouraged to withdraw their money and deposit it into smaller, better-managed community banks and credit unions. Wall Street banks have cut lending while accepting taxpayer money and are using profits to fight financial reform in Congress.

Geithner's comments about Move Your Money begin at 3:35. During the same interview, Geithner warned that if Federal Reserve Chairman Ben Bernanke is not reconfirmed, markets would react negatively.

http://www.huffingtonpost.com/2010/01/25/geithner-on-move-your-mon_n_435324.html

If I hadn't already moved ours, I sure as hell would now. After all the anger, he's still protecting his bailed out buds?

[peace frog]

1. I'll just bet he doesn't thinnk it's a good idea

All the more reason to MOVE YOUR MONEY To a local bank or credit union.

[laughingliberal]

3. I really like the way he doesn't say why it's not a good idea. nt

[RUMMYisFROSTED]

2. Disingenuous.

[aquart]

4. Yeah, he's not one I go to for advice.

[villager]

5. Wow, if he thinks it's bad, it must really be a great idea!

n/t

[caraher]

7. indeed! nt

[RC]

6. I moved mine from a national to a local bank

over 40 years ago. Am I ahead of the game or what? :P

The national bank could not keep my checking account straight.

[gratuitous]

8. What do you care if your checking account is gay?

Gee whiz, and why would you expect your bank, of all places, to make or keep your checking account straight?

:P

[Marr]

9. If the Wall Street agents are against it, it must be good for me.

[BanzaiBonnie]

10. Geithner is protecting HIS FUTURE

When he's done in the Obama admin, he'll go straight back, into the waiting arms of his Wall Street buddies.