Senate Republicans Grill Geithner for Greater Detail on Financial Plan

Both Obama and Geithner are in no-win situations regarding the financial recovery plan. Too many details and they lose flexibility for the future. Too few details and, well, you get a market bomb and a host of angry obstructionists…I mean Republicans. Supposed you’d get the latter either way.

Oh, I am sure the Republicans wanted details — so they could start arguing against them, like they did with the Recovery Act. (Agreeing to vote against it before they really saw any detail, and then picking less than 1% of the bill to rant about all over cable news.) It would appear the new administration has learned an important lesson about how the GOP wants to play this game.

I read that with all the stimulus money they were going to want, they could have paid off 90% of all mortgage in the US….maybe they are gonna go for 100%.

I find it disturbing that Geithner has been allowed to keep his new position. His past record of not paying taxes is disturbing to me and I resent the fact that he is in charge of “money”.
Obama is right no one is perfect; however, when he makes a mistake, it is just a mistake. If it is the previous govt. they are nuts. You know I don’t remember the previous govt. crucifying the democrats with their mouth. Yet the democrats try and destroy the intelligence and character, of the Republicans by trying to belittle and discredit them anyway they can. I believe the democratic party has demonstrated immaturity, arrogance, and a Pharisee attitude in everything they do. I’m disappointed and disturbed. Furthermore, I believe this is their way of trying to manipulate the minds of the United States people by cutting another party down. I’m not impressed.

“Some Senate Democrats did stand up for Geithner, including the man who introduced him at Treasury, chairman Chris Dodd, noting that Geithner had only been in office for two weeks.”
Then what the #### makes them feel he’s qualified to stand up there and speak at all. Nothing but excuses from all of the crooks. They all exmplify the term “thick as theives”.

“Both Obama and Geithner are in no-win situations regarding the financial recovery plan. Too many details and they lose flexibility for the future. Too few details and, well, you get a market bomb and a host of angry obstructionists…I mean Republicans. Supposed you’d get the latter either way.”
I suppose that instead of “angry obstructionists”, you would rather have a demagogue and some sycophants? If you want that, you’ve already got Pelosi & the Congressional Democrats.

Obama + Geithner = Dumb And Dumber….

Let’s all listen to the wise council of the GOP. They want to tell us all about fiscal responsibilty. That’s like getting investment advice from Bernie Madoff. Shelby,oh he’s so concerned about spending the tax payer’s money. Where was Mr. Shelby the last eight years. I’ll tell you where he was-blindly rubber stamping us into mountains of debt under the Bush Administration. The real issue here is that the Republican Party is so pathetic they actually want Geithner to fail. They want Obama to fail and our Country to fail because they don’t want to look even worst than they already do. Despite all the BS Americans are still solidly behind Barack Obama. If he turns this enormous mess left by the incompetent Bush Administration and the sheep that followed him the Republican Party will be fighting it out with the Libertarians and the Green Party for chump change.

Obama is such a loser. He has ruined our country in less than a month. When can we Impeach him?

There will be no confidence in the financial arena until some action is taken to hold to account those who created this mess. Turbo Tim was there in NY on Wall Street watching his buds do the dirty deeds. So no action will ever be taken to prosecute. Just like always to many politicians in bed with the Wall Street crowd. All these toxic assets need to be marked to market and sold. Those institutions that don’t have the necessary assets to remain viable must fail and their good assets forfeited to solid institutions. that is more than just a stress test!

I don’t know if anyone else noticed but those Southern Senators, (Dixiecrats) are all lining up against the stimulus to get even for their landslide defeat in November. I guess somethings never change.

He said the American people was for him = well no one that I know is. He is inexperienced and it shows. We might have been in a mess but we are in for a far greater one now. He doesn’t have a clue.

dave says”There will be no confidence in the financial arena until some action is taken to hold to account those who created this mess. Turbo Tim was there in NY on Wall Street watching his buds do the dirty deeds.”
And this David couldn’t agree with you more, not only were his “buds” having a good time but I’ll bet you there were more than a few reps from the great northeast involved in this mess as well.

There is nothing as exciting as seeing a republican midget posture for the camera… no not that pug Liberman… I mean that little Senetor from Tennessee. He’s a jerk with a chip on his shoulder… venter, de mint and shelby are more of the southern white trash too.

Here we have Geithner who can’t figure his own taxes in charge of a monumental finiancial crisis?? Geithner was there when all this was coming down. Where was he? In bed with all his friends on Wall Street and Congress. When are we going to have them held accountable for the crooked deals they did?? I think Americans wouldn’t be half as angry as they are if we could at least see an attempt at procesecuting the properteriers of this mess. CEOs need to be fired and criminal charges need to be filed against them. What is happening? How come they are getting away with crime? How come we should give them more money to spend on themselves? What about Madoff? How come he is not in jail? He stole $50 billion dollars from innocent victims??? Put the CEOs in jail , let their companies fail as they should then we can talk about reconstruction.

He said the American people was for him = well no one that I know is. He is inexperienced and it shows. We might have been in a mess but we are in for a far greater one now. He doesn’t have a clue.
Posted by: Jane
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Oh great G.I Jane and the Re-pubic-an followers.
It seems that every one of you have their own little worthless valued opinions and you have no idea
how big the problem is. Your experience on the Hill
shows that you were NEVER in control of this situation. Too bad you didn’t have this anal retentive stubbornness you are now showing when
you were were majority leaders. Maybe that is why
you lost seats in both houses for 2 consecutive
cycles! Right now you are showing only sour grapes. Isn’t it funny you are demanding details,
hmmmm hard to learn from mistakes, isn’t it. Don’t you wish you did the same with that $12 Billion you gave to Goldman Sacs, or the $85 Billion to G.I.A.
gee, I’m sure bush had it all set for you. Yeh, Right!
The long we procrastinate the worse it will get, unless this is what you want. Or maybe, this what you want…

It’s fair to say that one of the gang leaders from Dixie, Vitter, has a credibility problem of sorts, and isn’t really in any position to be be wielding any hookers, I mean, hooks into Geithner and his bailout plans. He (Vitter) needs to stop the can the Chicken LIttle, while Corker needs to put a cork in it. Hopefully, the GOP Dixie gang will go South in public opinion for their obstruction with the stimulus package, and calling for a ready made and complete bailout in two weeks. At least we know Geithner’s not going to pull a fast and careless one like Paulson.

He (Vitter) needs to stop the can the Chicken LIttle
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I meant Vitter needs to can the Chicken Little. He needs to stop with the tricks. Sorry.

And any of you really expected answers from a criminal? Only difference between the recently appointed officials and criminal suspects is that the latter are suspects.

and, are we surprised by anything that the wicked witch of the west does for her own benefit? I mean, we are talking about the same woman (using that term loosely) that blasted automakers for flying corporate jets while practically boarding her taxpayer funded jet.

I’m terribly disgusted with republican senators and house members. Seriously, rather than hurling insults and criticisms to the solutions that the Obama administration has offered thus far, why don’t you actually come up with solutions?? I AM SO FED UP WITH REPUBLICAN WING NUTS WHO KEEP ON CRITICIZING RATHER THAN ACTUALLY OFFERING SUGGESTIONS ON HOW TO SOLVE THIS ECONOMIC MESS. IT’S AN UNCONVENTIONAL PROBLEM THAT REQUIRES AN UNCONVENTIONAL SOLUTION. THAT MEANS TAKING RISKS IN FIGURING OUT WHAT WORKS!!

What I don’t get is all these people who think this problem is all the Republicans fault…it’s all Bush’s fault. It is the Congress’s responsibility to appropriate and spend $$$…and to regulate things. Who has been in charge of Congress for the last few years? Hmmm… Yes, in the long run, it is Bush’s fault…He was the President…that’s how things work. The President’s job is to provide leadership, but if Congress doesn’t want to do their jobs, the President can’t fire them…only we can. I have no use for Dems or Reps… they are all acting like 4 yr olds… “it’s their fault”…”is not”…”is too”. What a bunch of bunk!… C’mon people..quit playing their game! Make them do their jobs or get rid of them. Nuff Said!

WHAT I DON’T GET: Why does anyone with a brain believe this can be fixed without blunder, if the REPUBLICANS had been this cautious with BUSH, who inherited a SURPLUS then we wouldn’t be in this mess. As far as Senator Shelby, helly all he brings to Alabama is foreign car dealership, who too are laying off workers and so when has he been so for AMERICA. GET THESE PARTISAN CLOWNS OUT OF OFFICE!!!AS SOON AS POSSIBLE.

The Republicans have been put on notice. Come mid-term elections, the American people will again speak loud and clear the GOP is no longer of any use to the country.

Stop looking back at Bush. Geithner today was very specific that there would be no specifics. He showed his hand today that is as weak or weaker than Paulson. Like Paulson he is a political pawn who must squirm and lie for his bosses. How sad that we qualify political nothingness rather than American citizens. Fire Geithner and the entire economic advisory committee.

I think I’m listening to Elmer Fudd?

Another Chicago politician with no way forward.

Eyesurgery, you seem to forget that it was the Republicans who had control of both Houses in Congress the last SIX years of President Clinton’s two terms.

Two weeks ago Geithner was the only man in America who could hit the ground running.
Today he needs more time to get up to speed.

How many of you still refuse to see what is so plain to millions of other Americans?
Obama hates America and plans to bring her to her knees.
Please think about not helping him do that.

tanarg, I believe it is Bush and Cheney who have done that.

from the article: “”The path our country has pursued to date was too limited in support,” Geithner said. “It came late. It came with too little broad trust and confidence and too little direct support to the businesses and consumers and households that are most effected by the crisis; people who were careful and responsible in their actions but were damaged by the judgments of those who did not.”
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on the other side of the fence….. then why exactly is all I hear is helping those who wereb’t responsible? Why is it we should bail out those who purchased more home than they could afford? Why do we help those companies who leadership ran it into the ground? Why help a car company who was making muscle cars when gas was exploding to 4$ a gallon? Where is the help for those of us who live within our means but are being taxed out of homes by schools and states and counties? Where is our help? I hear nothing of taking care of or helping us… All we see is the govt handing money to crooks who have mega million dollar super bowl parties… etc etc etc
Obama and company are turning out to be almost as big a joke as the entire republican party has been for the past 2 administrations…..

Geithner has to stall until the passage of the porkulus package, else TARP 2 save the economy before Obama can spend all the money buying votes.

It isn’t just those pesky Republican Senators who are going after Geithner for his performance yesterday. I clearly remember when he was nominated for Treasury– we kept being assured that he was the most superior candidate ever, that we HAD to have him despite his tax issues because he was simply the only person who could do the job. We were reminded that, as head of the NY Fed, he had been intimately involved with wall street and the big banks during the growing crisis and that he had helped Paulson craft the rescue plans. We were told he could hit the ground running because of his unique skill set.
So now he’s in charge of Treasury and we were promised a big plan from him this week. His rollout of the plan was pushed back to Tuesday from Monday in order not to step on the story of the stimulus debate. On Monday night, Obama hyped the presentation to come. ANd then, on Tuesday, Geithner gave us a campaign speech or something rather than a plan. He had no details, and admitted as much. Fine, but then don’t go building up expectations for a plan that does not yet exist.
Most annoyingly, he told the Senators, “I have only been on the job for two weeks.” WHAT? That’s your excuse? Forget it. The transition was the smoothest in memory, as everyone on both sides kept saying. The Bush Treasury welcomed Obama people in to work along with them and to see what was going on. Geithner was at work in NYC. So after two weeks of actually holding the title but after much longer as the person whose main assignment was to take control of this situation, he is not yet ready for prime time.
The administration dropped the ball by leading us to believe a fleshed-out plan was coming this week. They are, after all, the ones with their hair on fire, shouting that time is of the essence and we haven’t a moment to spare to stave off Armageddon (sorry, catastrophe, let’s not exaggerate. *G*) So we can’t even pause to read an 800 page bill before we pass it, because time’s a wastin’. But we can roll out an outline and a pledge rather than a plan, and that’s okay because it’s only been a few weeks.
Give me strength.

cork…Fact: “What go us into this mess initially were banks taking exorbitant, wild risks with other people’s money (translation:sub-prime loans) based on shaky assets(translation:sub-prime loans.)” cited from Obama’s first prime time news conference.
Another Fact:In 1999 under pressure from the Clinton administration, Fannie Mae, the nation’s LARGEST home mortgage underwriter, RELAXED credit requirements on the loans it would purchase from other banks and lenders, hoping that easing these restrictions would result in increased loan availability for minority and low-income buyers. Translation: The Clinton administration looked to increase their sub-prime portfolios..Translation: Loaned money who could not afford to pay it back when interest rates began to go up thus mortgage foreclosures began banks began to fail..tax revenue took a dump, jobs began to go bye-bye…
Translation: The Dems responsibility is the beginning of this entire mess and the Repubs for ignoring the problem and the Dems ARE GOING TO DO IT ALL OVER AGAIN WITH THIS SO CALLED STIMULUS BILL…Mark this date and remember it in 2012…AS OBAMA SAID IN HIS FLORIDA TOWN HALL MEETING ” HEY, IF IT DOESN’T WORK, DON’T VOTE FOR ME IN 2012.” HE ACTUALLY SAID THAT!!!