Geithner: Global Cooperation On Financial Crisis Strongest Since WWII

Rick Wagoner was only the sacrificial lamb. I’m sure Rick will load his accounts with millions of dollars and relax for the rest of his life while sipping tequila poolside. LOL. What difference will that make for us hard working Americans??

Wow really $135B left out of what $700B gone with no accountability. um that is probably enough left for politicians to give themselves a pay raise!

if only we could get obama to be more like germany and sweden.. no bailouts for business’s that put themselves at risk

Why should anyone believe Geithner?

Why is it that Corporations can search high and low in every third world country for the cheapest supply and labor costs but yet that same courtesy is not extended to consumers without tariffs and exchange rates. Shouldn’t there be an exchange rate for minimum wage?? Wouldn’t that level the playing field and make things more fair? Why do groups that supply goods get to play by a different set of rules than groups who demand goods?

So much for change! (Sigh)

Bondservant1958:”Wow really $135B left out of what $700B gone with no accountability.”
That word… I don’t think it means what you think it means. Being grilled before Congress is accountability. Being hammered by your boss for spending political goodwill is accountability. The GAO running releasing their own numbers is accountability. The work by the TARP Inspector General is accountability. Seeing enormous resistance to getting further funding from Congress is accountability.
It’s far from perfect or even good enough, but saying there is no accountability while standing in a whirlwind of it makes it look like you live in some ignorant fantasy land.

I just want one thing…justice. All this talk of the banks and autos. Union members, make sure to take careful notes, remember who had your children’s best interests in mind and 4 years from now vote accordingly. Hint- It’s not the Democratic party.

Jim Rod:”And she hired a tax professional to do her taxes and a tax perfessional to review her taxes when she was picked. And today we find a mistake she claimed interest on a credit card used to pay off a house loan? which all of us non previlaged tax payers know cannot be done? ”
So her hired professional made the error but it’s her fault? A mistake that “all of us” find obvious? That seems like a pretty ambiguous definition of what ‘mortgage interest’ is to me, but I guess I’m just not as clever as you. Personally, I would have trusted the guy I was paying to do the taxes.

justrighttoo:”I’m afraid that only a conservative in 2012 can help solve the damage this administration is doing.”
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I think the damage was already done. Stop the partisan bickering – the rich and elite thrive on it – only when we can unite as a country of working Americans AGAINST politicians can we progress beyond just simple bickering.
Democrats – realize that your party is responsible!
Republicans – realize that your party is responsible!

Propaganda seems to be like nothing since Germany’s WWII. George Stephanopolis just had a story about how the Treasury cannot even keep track of where the trillions of dollars are going for Wall Street. Silly stuff going on with journalism.

BS.

I don’t think most people are paying close enough attention to the tactics involved. The dismissal of Rick Wagoner was a shot across the bow to the anks. Obama is playing good cop/bad cop. Some of the big banks will be able to survive with this public/private partnership strategy to sell off toxic securities and bad loans, but some of them will have to be nationalized. When that happens, shareholders will be wiped off, management fired, and the bank gets wound down by the FDIC. Have you not been paying attention to Sheila Bair? Why do you think she’s signed on to Geithner’s program? Previously, Bair and Geithner were oil and water. This is a precurser of nationalizing some, but not all of the banks, if necessary. I imagine that in the coming days and weeks, more and more lower-level management will be dismissed, and more and more non-core businesses contained in these big banks will be sold and/or restructured. Ken Lewis of Bank of America is essentially a “dead man walking” for doing that incredibly stupid deal with Merrill. Obama Administration will save the banks that they can save, but one or maybe more than one will not survive. Just watch.

“…everything’s fine, go back to your job (if you still have one) and let us rich guys handle the dough. We’ll take care of you.”
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True enough!

If Geithner’s mouth is moving, he’s lying….

It must be April Fools? This is some more bull. The only programs passed so far are full of wasteful spending and the only one being helped is the governement. And now they want to stick their nose into the Tobacco industry. Lets see if they can screw that up also.

Anyone know the difference between a politician and a plecostomas?
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A. One is a bottom-dwelling scum-sucker and the other is a fish.

People, you don’t need jobs. Just pour your money into stocks along with the billions given to the Wall Street gang.

Boy: Dad, what’s politics?
Dad: Let me set an example with our family. I have all the money so we’ll call me the management. Mom receives most of it so we’ll call her the government. We’ll call the maid the working class, you are the people, and your baby brother is the future. Do you understand now son?
Boy: I still don’t understand dad.
Dad: Think about it for a while son.
That night the boy wakes up because his baby brother is crying. He goes in and finds out the baby soiled his diapers. He goes to tell his mom but she’s asleep he goes in to the maids room but she’s in there having whoopee with his dad. He bangs on the door but no one can hear him.
The next day…
Son: Dad I understand politics now.
Dad: Good, explain it to me in your own words son.
Son: The management is screwing the working class while the government is fast asleep. The people are being ignored and the future is in deep doo doo!

Bush’s fault! Gotta be… It is the liberal media that is trumping up these exaggerated attacks on our President! If Bush was not guilty of war crimes the world press would not be making up these lies about Obama!!!

Anyone know the difference between a celebrity and a politician?
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A. Nothing.

republicans are so stupid and petty ,in general anyway .
there is no need for supporting arguments for this assertion . just read a few republican posts,here and elsewhere and the blatant unfortunate truth is all too easy to see.
even their “intellectual champions ” (like george will /ann coulter ) are looked upon with a growing dubious regard , and no wonder.
the republican party has a pulse ,but it has been brain dead for +40 years.
time to pull the plug…

APRIL FINANCIAL FOOLS DAY.

Washington and Wall Street created massive debt-fueled bubbles by convincing Americans to BURY ourselves in debt so we could spend like there was NO tomorrow. Why in the world would the rest of the world want to follow this strategy? Time to adjust. No more: “IN DEBT WE TRUST.”

GP McClure, if you don’t trust “MSM” then poof-poof be gone. isn’t it easier to tune in to Rush and not have to worry about having your own opinion or being informed when you can just mindlessly follow the great Limbaugh?

sarah:”Washington and Wall Street created massive debt-fueled bubbles by convincing Americans to BURY ourselves in debt so we could spend like there was NO tomorrow.”
This is not the fundamental problem. The problem is that banks did not properly assess the risk of people being unable to repay the debts. Stupid individuals are a given, but it is breathtakingly shocking that banks would so completely neglect their fundamental job of properly assessing risk and protecting their shareholders. This is what Greenspan has publicly held up as his excuse for his monetary policy – he simply did not believe that bank management had become so insulated from the health of their corporations as to be so reckless.

One thing is for sure , democrats did not ,and could not have done much law making or agenda passing over the past 8 years ; there was a republican president who could ,would and did veto anything even slightly out of line with hard core republican ideology( i.e. preserving and increasing the wealth of a very few at the cost of the average joe/josephine.)
Add to that a rabidly partisan republican majority in house and senate , who did in fact earmark any democratic proposal that somehow DID make it up to the table for a vote (rare) so to make said legislation republican in essence/effect.
Add to that blue dog democratic moderates [read : tepid republicans who can’t get elected in their state running as republicans…) playing footsie with the republicans ,and you have the situation at present, at least before mr obama.
It was fun at least while it lasted wasn’t it? and easy to do with a majority , as the republicans are now finding out ,now that the shoe is on the other foot.
Anyone who says this financial mess is the democrats fault is a revisionist liar ,and thats all there is to that…

I agree Dean , blue dog democrats like clinton were a big part of the problem .
True liberals are in charge now and the republicans still in office are trying their best , without success, to obfuscate/charm /bribe/ lie their way back into some measure of legitimacy and power but guess what?
THIS PRESIDENT ISN’T FALLING FOR IT !!
GET READY TO GET SOAKED RICH ELITISTS ,REPUBLICAN AND DEMOCRAT ALIKE!!!

They use to call Clinton slick willie, now they need to call Obama slicker than willie. Notice how he fired the GM CEO and then made a point about how the bond companies were not cooperating but failed to say little of anything about the UAW????? Whats up here you might ask??? Very simple, Obama just paid back the UAW for supporting him and most of you never even saw it.

No double standard in our current government?
I’m gullible but not that gullible. The double standard is one set of laws for the elite and another set for the rest of us. I owe the IRS and they threaten to take everything I own. One of the elite owes the IRS and they give him a cabinet position.
That’s change I can believe in alright.
Posted by: Oonogil | Apr 1, 2009 3:24:28 PM
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Classic rhetoric and hyperbole.
I just wanted you to know I am going to use your post as an example in my legal class . Thanks.
(note: you may want to work on your objectivity skills a little ,just a friendly observation/suggestion)

chard Apr 1, 2009 3:26:43 PM posted,
“Do you libs not see the lies right in front of you? Do you not see the gov’t take over of everything private?”
Relax. Not sure why I’m trying to explain this to you, but here’s the deal. Other people who are “libs” have trouble connecting your dots. It’s not clear how GM going into bankruptcy (as if that’s somehow “bad”) automatically leads to the government taking over “everything private”.

chard Apr 1, 2009 3:26:43 PM posted,
“Do you libs not see the lies right in front of you? Do you not see the gov’t take over of everything private?”
Yea, I agree with Mrs. Robinson, that’s just a wee-bit paranoid.

gm comes begging for taxpayer cash every week or so anymore .
aig actually tried to avoid any taxpayer help until the market completely fell out from underneath them , thanks largely to derivatives trading that was conceived/ allowed with patent support and legislation UNDER MAJORITY REPUBLICAN RULE!!
once the bottom did fall out aig had no choice but to ask for tarp money ,and the government had no choice but to give them what they needed to stay afloat…bankruptcy for aig is NOT a viable option ,while gm is considered by many analysts to be more or less redundant ,especially lately.
i will admit clinton and his band of pseudo-democrats ,who stooped low to play footsie with the republicans were partly to blame for the fionancial mess as well ,but mr obama isn’t of that ilk.
he is a real liberal (thank god!) and he will make the blue dog democrats get in line with his plans or be ignored.

George Soros said, “According to the White House budget, the estimated national debt, or debt held by the public, in fiscal year 2010 would equal approximately $81,000 per U.S. household.”
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Imagine that! The paper money that the federal reserve created out of thin air is now going to cost you and I $81,000. Someone’s getting rich but it’s not you and I.

When the dollar falls to the value of monopoly money (which is coming), then everything we have traded for paper money becomes worth even more. You know, the important things like gold, silver, and land. Except now they have all that stuff and all you and I have are stock and bond certificates and boatloads of worthless crap and 401K statements.
Detroit may have problems building quality cars but Wall Street along with the feds are selling make-believe.

Um really “Really”, the only industries that have received repeated “bailouts” has been the BANKING industry. Give me a break. The autos have received 2 “loans” total. That is not the defenition of multiple. And the reason that the autos are struggling currently IS due to the failure of the banks, the failure to loan !!!! More than just autos are affected by this too. Several industries and thousands of companies are struggling or failing due to bank incompetency. There is clearly a double standard. America’s education system may be poor, but it’s not that poor. People aren’t that stupid yet that they can’t recognize a garbage statement when they see it.

Dean Kolt
No problem. Just make sure you quote me correctly and take nothing out of context. Make sure I get credit too.

When people aren’t buying and banks aren’t loaning, most times it’s related to a larger number of people who cannot afford the given economic environment at the time which goes back to the system given to us. Does anyone realize the price of food has more than tripled in the last few years of the bush economy? What about the gas prices? They have doubled and tripled as well. Of course a larger number of people are not going to be able to handle repayment of loans. Of course, illegals always get factored in to the equation so the politicians have another “dragon” they can slay. IMO, illegals should not even get loans. I realize that many people are still getting loans but our economy is built on mostly everyone getting loans which has dried up given the current cost of living for most folks. You want to stimulate the economy? Give back to the worker who can then afford to consume goods as well as take out loans.

wow where to start, dean…. quit blaming everything on bush… when you burn the chili or stub your toe i bet you blame him too. really dean (or anyone else)… can you sit ther and tell me you are comfortable with barney, dodd, rangel, pelosi, barry, waters, and the rest of the gang? really? do you really believe that it was all the big bad republicans fault? i know dumb question. the fact is both are at fault. the cra is at fault… bush is at fault… carter, clinton, all of em. get over “your” team or the whole team loses.

hey lie teller, first things first…. i voted for kerry. glad that didn’t happen. second off, if you READ what i wrote you would notice that i blame repubs just as much as the dems. you are just to biased to see it. thats why you avoided my question… do you approve of these people? also keep in mind that feinstein voted for the bush tax cuts while mccain voted against them. its not as black and white as you try to make it. is feinstein a right wingnut? is she the war mongering, rush-bot, liberal hating repub you are talking about? probably not. get off the left right to and fro and maybe ill reply to your next post.

No one is saying mccain isnt a moderate who will cross the aisle once in a blue moon or that feinstein isnt a moderate who will cross the aisle rarely on occasion ; but the truth is that they arent typical representatives of their respective parties ideologies ,and that is why mccain lost ,and why the democrats would NEVER run such a flip floppy “democrat” as feinstein their nominee.
HE IS A MAVERICK!! (LOL)

Would it be too hard to explain to the American people what the ramifications would be if the government just gave us all like $100,000. I would think people would retire thus creating jobs, pay off housing or buy housing thus not needing the stress out the banks, get off welfare, pay off taxes easing the states burdens. Not to mention afford health care plans and buy goods, services, and product thus pumping money into the economy. Can we get an answer from Mr. Geithner please.

Granny apple, i am glad it didn’t happen because of all the crazy rhaetoric i’ve heard from kerry and gore. super to far to the left. i will say it again and again and again. bush stunk. we get it. that does not give this president the green light to spend us into oblivion. hey truth guy, i was going off of my memory, do not have time to look up that vote, however, the reason every republican voted against the stimulis is obvious…. it stinks. 787 billion of nothing. worthless spending. a joke. to counter your point how many dems voted against the stimulis? none. thats the problem. left or right they both have it wrong. you just can’t admit that the dems stink just as bad as the repubs can you? it hurts i know. take off the rose colored glasses and join the 1/3 of americans who are starting to realize its not who voted what, or dem this repub that…… they are all crooks and we need to take our country back. get it?

Mulla, First, America has enough death on its streets to deal with, especially with illegal aliens ignoring our borders and laws. We will not bare the responsibility for the death in the streets of London.
Also, the US Fed and Treasury are playing a dangerous game with our currency and commerce. China has no choice but to back us: If they don’t, their exports suffer, which is a bigger problem than losses on Treasury Bonds. China is now paying a price for their monetary policy. This doesn’t mean Chinese people deserve to bare the burden of the policies of their gov’t, no more than USA citizens deserve to bare the responsibility to bare burden of Bush/Obama commerce policies, much less the economies around the world.
The core issue blocking recovery of the US economy (and world) identified a year ago–the mortgage mess–is still unresolved. TARP, bailout, none of the official acts has addressed that issue. FASB and congress are finally testing the waters of changing mark-to-market valuation, which would enable banks to set realistic values on assets in their portfolio. This is should have been the first step taken last year.
Gregg Marinelli