Who invited him?
"Bailout extension sets stage for debate on remaining funds" by Martin Crutsinger, Associated Press | December 10, 2009
WASHINGTON - The Obama administration has extended the $700 billion financial bailout program until October 2010, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits.
The administration insists the bailout fund is still needed to prevent further turmoil in the banking system. In announcing the decision yesterday, Treasury Secretary Timothy Geithner said extending the program also will help homeowners struggling to avoid losing homes to foreclosures and small businesses having trouble getting loans....
I'm tired of waiting for fart-misting promises. You, America?
President Obama said the freed-up money can help reduce the record-high federal budget deficit and “invest in job creation on Main Street rather than Wall Street.’’
The fart-mister in chief!
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Both the administration and Democratic leaders have indicated they want to divert some of the unspent bailout funds to a jobs program.
So WHERE HAVE THEY BEEN the LAST TWO YEARS as the country has shed OVER 7.5 MILLION JOBS?
What happened to the stimuloot?
Related: Second Stimuloot on the Way
Pffft!
Their goal is to refashion a hugely unpopular program viewed by voters as a taxpayer-funded bailout for big Wall Street firms that then reaped millions of dollars in lavish bonuses.
We VIEW IT THAT WAY because THAT IS WHAT HAPPENED!! We have gotten NOTHING FROM WASHINGTON except DELAYS and EXCUSES!!!
Republicans vowed to keep trying to close down the rescue program by the end of this month. They said any leftover funds should be devoted exclusively to curbing the country’s soaring budget deficits.
“The Obama administration just can’t seem to let go of the $700 billion in ‘walking around money’ taxpayers were forced to put on the line to bailout Wall Street,’’ said Representative Jeb Hensarling, Republican of Texas.
Republicans also criticized the Treasury for using the Troubled Asset Relief Program as a slush fund to support programs that Congress never intended - including bailouts of automakers and failing insurance giant American International Group.
“American taxpayers have had enough of open-ended bailouts that have left them stuck with trillions of dollars in new debt,’’ House Republican leader John Boehner, Republican of Ohio, said yesterday. “TARP should be shut down by the end of the year. It’s time to get the government out of the bailout business.’’
Geithner said the bailout program helped avert a worse financial outcome. Financial conditions have improved, and the economy is pulling out of its tailspin and starting to grow again.
Who let that weaselly liar into the house?
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WASHINGTON - Treasury Secretary Timothy Geithner said yesterday that the Obama administration is confident it will prevent a repeat of last year’s financial crisis....
Then a DOUBLE-DIP RECESSION is ON THE WAY!!
The DOLLAR is cratering and CHRISTMAS SALES SUCKED!
The one quarter of growth was because government borrowed and lied about it.
“We are not going to have a second wave of financial crisis,’’ Geithner told National Public Radio. “We cannot afford to let the country live again with a risk that we are going to have another series of events like we had last year. That is not something that is acceptable.’’
Translation: The banksters have gobbled up all the loot and there is none left, America.
Geithner rejected the idea that a serious new crisis could be triggered by lingering problems with commercial real estate loans or with a sudden weakening of the dollar. “We will do what is necessary to prevent that, and that is completely within our capacity to prevent,’’ he said....
And if it happens, well, nothing that could be done about it -- and we will need ANOTHER BAILOUT!!!
This from one the architects -- manager of the Fed of New York -- of the crisis who is now trying to "fix" it.
And he's been WRONG all the way along.
Geithner, referring to the actions of the large banks in last year’s crisis, said he did not believe they yet understood that they had lost the “confidence and trust of the American people.’’
He said bankers had a “long way to go’’ to restore that confidence.
I got a clue for you, guy: WE WILL NEVER REGAIN "confidence" in that BAND of BILLION-DOLLAR BONUS LOOTERS!!!!
Geithner defended his numerous contacts with executives from the largest banks....
Related: Goldman's Gets Tax Credit For Sticking It In America's Fannie
Geithner Thanks Goldmans For Buffett
I believe the term is CONFLICT-of-INTEREST!!
He called it a “misperception’’ that he was devoting too much time conferring with the largest banks. He said the conversations he had right after taking office should be viewed in the context of the serious crisis facing the financial system last winter and spring. “I’m the secretary of the Treasury. I have to spend time figuring out what it’s going to take to fix the things that are broken in the financial system,’’ he said.
WHO INVITED this DISINGENUOUS ASSHOLE to Xmas!?
Asked about the economy, Geithner said there were a number of signs that economic conditions were beginning to improve in terms of consumer and business confidence rising. He said it was likely that overall economic growth in the current quarter is accelerating, but.... “We were in a very deep hole, and it is going to take a long time to repair the damage done to confidence,’’ he said.
The banks seemed to recover quick enough; why do we have to wait so long?
As for confidence in vampire-like banksters?
NEVER AGAIN!!!
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