Mirror, mirror on the wall, who is the cleverest of them all? Thou, O Mr. Treasury Secretary and Mr. Obama, art the cleverest of them all. It is a grim fairy tale from which I quote.
Geithner squirmed this Sunday morning on the TV talk shows. His themed answer regardless of the question was that - Obama inherited an economic mess, and if it were not for his and Obama's quick and decisive actions, unemployment would be 9%, the banks would have stopped lending money and there would be a major housing crisis.
Geithner squirmed this Sunday morning on the TV talk shows. His themed answer regardless of the question was that - Obama inherited an economic mess, and if it were not for his and Obama's quick and decisive actions, unemployment would be 9%, the banks would have stopped lending money and there would be a major housing crisis.
Whoops. I must have misunderstood. Mr. Geithner isn't that what we have now? Well yes, but without our decisive actions, the economy would be much worse. And the recovery would be a lot slower. Are you saying the economy is recovering? Yes, but the rate of recovery is slower than we expected. We could recover faster if the republicans would just approve Obama's plan.
And just what is Obama's plan Mr. Geithner? The plan is to get the debt limit raised by August 2. Geithner does not know the difference between a plan and a goal. When repeatedly asked for a plan, he replied with a goal. And so the squirming went. Unfortunately, Geithner responds to questions with answers cloaked in a smile and a well-groomed hairline that masks his lack of responsiveness with the appearance of genuine sincerity. However, when he replays the interview videos, his arrogance displays such an apparent low opinion of the American people that his ego must be self-amused.
And just what is Obama's plan Mr. Geithner? The plan is to get the debt limit raised by August 2. Geithner does not know the difference between a plan and a goal. When repeatedly asked for a plan, he replied with a goal. And so the squirming went. Unfortunately, Geithner responds to questions with answers cloaked in a smile and a well-groomed hairline that masks his lack of responsiveness with the appearance of genuine sincerity. However, when he replays the interview videos, his arrogance displays such an apparent low opinion of the American people that his ego must be self-amused.
By way of background, Geithner graduated from Dartmouth in 1983 and has worked for the government ever since. As near as I can tell, he has never worked in the private sector. Geithner’s predecessor was Henry Paulson, also a Dartmouth college graduate and a Goldman Sachs executive. Geithner is sometimes referred to as a Rubin protege. Rubin, past treasury secretary, was also a Goldman Sachs executive. Rubin was paid more than $126 million as a Citibank employee. The New York Post reported that on the day that Bernard Madoff was sued for a "Ponzi scheme" costing investors more than $50 billion, Rubin was sued for allegedly defrauding Citibank shareholders of more than $122 billion. Guess which suit got the press?
In 2008, the treasury gave Citibank a check for $50 billion and an asset guarantee of $301 billion to keep them afloat. No doubt when Geithner resigns, which I believe will be in less than 12 months, he will join Goldman Sachs. You do the math. The old boy connections are too amazing to be true. Gold is thicker than water.
We need to start focusing on resumes and genuine practical experience, lest we make a presidential mistake again.
In 2008, the treasury gave Citibank a check for $50 billion and an asset guarantee of $301 billion to keep them afloat. No doubt when Geithner resigns, which I believe will be in less than 12 months, he will join Goldman Sachs. You do the math. The old boy connections are too amazing to be true. Gold is thicker than water.
We need to start focusing on resumes and genuine practical experience, lest we make a presidential mistake again.
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