Comments on: Geithner Continues to Show why he needs TO GO

By: a-boogie

a-boogie — Tue, 26 May 2009 13:52:25 +0000

I think Obama hired geithner to be the mouthpiece for his economic policies….geitner is a crook so the establishment will be more accepting to Obama's economic plans coming out of his mouth….we all know that Obama is the one running the shots in the treasury dept.

By: divineempress

divineempress — Tue, 26 May 2009 09:52:25 +0000

I think Obama hired geithner to be the mouthpiece for his economic policies….geitner is a crook so the establishment will be more accepting to Obama's economic plans coming out of his mouth….we al know that Obama is the one running the shots in the treasury dept.

By: CPL

CPL — Tue, 26 May 2009 03:40:00 +0000

I said from jump street that Geithner was a CROOK. Anyone working at the Fed Reserve knew this, and he helped orchestrate the Wall Street mess while working at the Fed.

NOW he's supposed to clean all that shyt up? Yeah, Right.

I also said we would get an idea of how Obama would be governing by whom he put in key positions in his Cabinet. Treasury is the most KEY position in the Cabinet, next to Defense. And he has two bonified crooks heading up both departments - Geithner at Treasury and Gates at Defense.

Same Shyt, Different Administration.

By: AM2k9

AM2k9 — Mon, 25 May 2009 20:33:39 +0000

The only reason why Geithner's SOT is because he's cozy with Wall Street. Perhaps, we need to start asking why is Obama sticking with him, given the interests he represents…

By: PTCruiser

PTCruiser — Mon, 25 May 2009 18:53:32 +0000

People who are in general agreement about how the world should work and who should get what and why don't have to conspire about anything at all. They share and represent the same interests. They and their children attend the same schools, dine at the same restaurants, summer at the same locales etc. They are already in agreement. Their differences are at the margins.

By: PTCruiser

PTCruiser — Mon, 25 May 2009 18:46:39 +0000

Why don't you tell us who you consider to be the fringe left because none of the individuals and groups that I would characterize as being the “fringe left” are ever given access to the MSM? When was the last time you saw a member of the Sparticist League or the Revolutionary Communist Party, for example, on any MSNBC, CNN, ABC, NBC or CBS news or public affairs programs?

To describe Obama's leftist critics as being on the “fringe” of the political spectrum is a slur of the worst sort. To characterize them as united with rightist wingnuts is preposterous.

By: Justice58

Justice58 — Mon, 25 May 2009 06:59:00 +0000

lol

By: babyming

babyming — Mon, 25 May 2009 02:51:24 +0000

I don't know if I like Geithner or not. He seems super-cozy with his Wall Street friends. But maybe that's the kind of “insider” Obama needs. Right now, it seems to me that Obama has managed to inject a good stimulus into the economy, and some of the “free-fall” is stabilizing. Geithner has sometimes said things that impressed me as intelligent. I must say, I wish Obama were relying more on PAUL VOLCKER, and less on the other guys (Geithner and Summers). I always thought that Volcker saved the economy back in 1979 and 1980. Now, at age 81, he seems very impressive (to me, anyway). It seems that Obama is letting Geithner and Summers “overshadow” Volcker. But I think Obama has been doing well with the economy, considering the disaster he inherited, and I suppose his current economic people deserve some of the credit.
The blog is right to air these very legitimate concerns. Unfortunately, things are SOOOO bad that Obama may need to give in a bit to Wall Street, to get the banking system back up on its feet.

By: spirit_55z

spirit_55z — Mon, 25 May 2009 02:33:25 +0000

Yep, Karmi & Conserv1

http://www.youtube.com/watch?v=4nt75Wf6k7s

By: spirit_55z

spirit_55z — Mon, 25 May 2009 02:32:48 +0000

http://www.youtube.com/watch?v=4nt75Wf6k7s

By: Justice58

Justice58 — Mon, 25 May 2009 01:49:20 +0000

Take your ass & hide at Ruby Ridge!

By: Justice58

Justice58 — Mon, 25 May 2009 01:48:25 +0000

Yes! Me too.

President Barack Hussein Obama! Love him!

By: Micheline

Micheline — Mon, 25 May 2009 01:14:40 +0000

I am beginning to think Conserv1 and Karmi work together and take turns in harassing JJP readers . Remember how every day and every hour Conserv1 would be infesting the threads and Karmi only did drive-bys. Now it's the reverse.

By: RobM

RobM — Mon, 25 May 2009 00:26:22 +0000

Watch the video on this one. rikyrah please embed. It is my understanding I cannot.
http://voices.washingtonpost.com/federal-eye/20...
HAT TIP Calculated Risk.
excerpt w/ commentary
WaPo's Lois Romano: "You mentioned that Americans borrowed beyond their means. When you look at the collapse of the housing market, who do you think bears the greatest responsibility? Is it the banks for pushing these loans? Is it the consumer for borrowing over their means? The regulators? Where do you see the fault lines there?"

Geithner: "For something this big and damaging to happen it takes a lot of mistakes over time. And it is that combination of things. Interest rate here and around the world were kept too low for too long. Investors made - took a bunch of risks without understanding the risks. They were betting on the expectation that house prices would continue to go up - to go up forever. Rating agencies failed to rate these products adequately. Supervisors failed to underwrite loans with sufficiently conservative standards. So those basic checks and balances failed. And people borrowed too much. It took all those things for it to happen."

CR Note: (short transcript by CR). Although there were many factors in the housing and credit bubble, the two keys were: 1) rapid innovation in the mortgage industry (securitization, automated underwriting, rapidly expanded wholesale lending, etc), and 2) a complete lack of oversight by regulators. As the late William Seidman wrote in his memoir (published in 1993): "Instruct regulators to look for the newest fad in the industry and examine it with great care. The next mistake will be a new way to make a loan that will not be repaid."

Geithner failed to mention the rapid changes in lending and the failure of government oversight as the two critical causes of the bubble. Either Geithner misspoke or he still doesn't understand what happened - and that is deeply troubling.

By: RobM

RobM — Mon, 25 May 2009 00:19:10 +0000

Credit-Card Consumer Protection Law May Reduce Purchasing Power
The number is $90 billion. Recognize that many of us need to tighten up for a variety of reasons so we are all part of this number. The problem remains however that others have always reserved some of that credit power for real emergencies. Just think what will happen to our property if one of us suffers through a natural disaster.
http://www.bloomberg.com/apps/news?pid=20603037...

By: HopeOverFear

HopeOverFear — Mon, 25 May 2009 00:05:55 +0000

Aww, isn't it nice to see the fringe right and fringe left united in their hatred for Obama. :)

By: ASmith

ASmith — Sun, 24 May 2009 22:00:48 +0000

And this only continues my agreement with those who say this was the deal the Clinton and Obama camps made so that she'd bow out and throw her support his way. This man needs to be out.

By: RobM

RobM — Sun, 24 May 2009 21:42:43 +0000

Michelle Singletary is a presonal finance columnist for the WAPO. She points out today that the cost of credit is something that has never been free. It has been born by people w/ poor habits. So she warns that you are likely to see fees on credit cards.
She did a piss poor job of explaning the cost of credit and posters called her on it. One, even if you pay your bill on time the issuer receives a fee from the merchant(it's why your favorite restaurant only takes cash or two prices at the gas pump) so charging you is BS. Two, if you have good pay records and are charged a fee you should not take a hit to your credit score BY LAW. Something sorely lacking in the bill and neither suggested by President Obama or Sec Geithner.
Now if I'm Sen Dodd of Conn I'd kiss my seat goodbye because if I'm the Republican opponent I will ride this issue so hard Dodd's a@3 hole will be so wide you can just sink him off the coast of Conn and use him as a tunnel to the North Shore of the Hamptons. It doesn't matter if the Republican lies, everyone in that state whom found they could not refinance a mortgage, can't get a mortgage at a lower rate because their score was adversely affected by the dropping of a card by the company and/or pays a higher rate and fee's will not foget the attack on their pocket book.
That attack is why the Prince follows this advice on whether it is better to be loved or feared, ".....but above all things he must keep his hands off the property of others, because men more quickly forget the death of their father than the loss of their patrimony....."
Yep Church, guns and credit cards America's patrimony
http://www.washingtonpost.com/wp-dyn/content/ar...

By: rikyrah

rikyrah — Sun, 24 May 2009 20:59:11 +0000

AFTERNOON OPEN THREAD IS UP!!

By: Karmi

Karmi — Sun, 24 May 2009 20:25:49 +0000

You can feel change coming...all across America!