Senators Grill Geithner Again on New Financial Plan: Graham Tells Him, ‘You Have No Clue’

Of course. No one on the Obama staff has a clue. It all looked so good on his College thesis paper. It sounded so good in his Marxist college debate clubs. How the government creates work Everyone should be working for the Government and the rest should pay for it. SPREAD your wealth but not MINE is Obama’s and his none tax tax paying cheats MOTO

i am an Obama supporter. and i am frustrated that a whole lot more isn’t being done to answer questions. coming unprepared for hearings is unacceptable. i’m with Sanders, if you presided over the ruin of your company and raked in millions you should not be trusted with one cent of US taxpayer money. and you should be in the unemployment line making room for recent MBA graduates who are up for the job.
things will be much easier for Obama if there is true transperency and if the perpetrators of this crisis are removed from their companies.
capitalism isn’t looking so good right now.

Will the GOP and Obama haters ever stop whining? They think Obama has already failed but I can assure them they are living on mars and that kind of thinking is not mainstream.
Its only 3 weeks. Just relax.Obama is doing very good considering the fact that republicans are being obstructionists. They had 8 whole years and they still run America to the ground. Their ideas are old and Obama will not repeat those failed policies.
Simple as that.

Leave it to a limp wristed, slave state Senator (Graham) to force an important issue that has not been finalized yet. He always comes across as some tough ideologue (and McCain’s BFF), when we know what he really is. Come on out of the closet, Lindsey.

Human intelligence displays none… Lindsay Graham is another idiot who, along with McCain and the other repubs, haven’t a clue about complex economics. It’s laughable that they can even make comments like this. Did Geithner succeed in his press conference? Not really, but he has time to flesh out a plan. I’d have 1000 Geithners vs. 1 Graham in this.

thanks,Krista…i agree with what you are saying. i mean i know things need to move fast. Geithner should just have postponed the hearings. but i guess he’s in a catch-22 situation. republicans want perpetual hearings while the nation slowly dies.
i fail to understand why everyone is afraid to mention Reagan in this debacle. no one likes to speak ill of the dead and his demise saddened everyone. but this laissez-faire Reaganomics and Bush I’s voodoo economics that got us here.
if socialism means more accountability and regulation then let’s have that.
we can’t all shudder in fear when we hear “socialistic” with regard to fiscal policy. Limbaugh uses alot of words that he has no idea of their meaning. and i don’t ditto anything Rush says.

I’ve heard the bailout payments will average out to $439 a year over a thirty year time period for taxpayers. That’s over 140K. I don’t want to bail out on what amounts to criminally run companies; but since that’s going to be done, I want the best precautions and procedures for the remainder of my money. So I’m not too happy when some pundits and GOPers insist on an immediate release. The same Rethugs demanding an expedient release of TARP funds from Geithner were also the same ones trying to obstruct the stimulus bill from passing. Go figure.

You think Capitalism looks bad, why do you think China and Russia gave up socialism?

Frank W—i don’t know if China and Russia are capitalists or not. for the vast majority of their citizens the change has meant nothing.

Obama doesn’t have a clue, either.
He’s still campaigning! Will he ever actually lead or govern?
No– because all he knows how to do is read a teleprompter and tell lies to the American people.
“No earmarks or pork”-yeah, right, Obama you liar!

Does Lindsey Graham think he is the king of America? Somebody tell me where his arrogance comes from. SC, please get rid of him.

Two weeks ago we were told this tax cheat was “Mr. Indispensable.” Now we discover that he couldn’t find his ass with a five-hand working party.

JM Hanes, well how ’bout cutting the polysyllabic trash and just resurrecting Reagan since republicans have all the answers. not only are they responsible for this mess but are obstructing its solution as well.

tax shelter, tax shelter, tax shelter, LEGAL!!!!!!!!! get rid of every tax cheat on capitol hill, and pass a usage tax where EVERYBODY has no choice but to pay taxes.

brenda—yeah there should be a tax for everything. offshore tax havens have to become illegal (but a republican fat cat no likely to disappear). all the tax cheats aren’t on capitol hill. they are the bankers and corporate CEOs who created this mess. tax them heavily. they are rich people who make millions of dollars which is deposited into carribean banks. that’s as unamerican as you can get.

harry, jeesh! look at the repub crooks in the previous administration. tax cheating were the least serious of their problems—outing CIA agents, firing career prosecutors for political reasons, war crimes…

For the poor, somewhat hysterical Mr. Paul Wall, it may be soothing to recollect that no one in the Bush administration has been charged with any war crime; and a special prosecutor investigated allegations that CIA agents had been unlawfully outed and charged no one with any such crime. There was a single criminal conviction in connection with the whole thing, whereas the Whitewater investigation alone resulted in 17 felony convictions and an impeachment.
As for what got us into this mess, there is no literate person alive who does not recognize that it was a benign, well-intentioned government policy of encouraging home loans to people who couldn’t pay them back.
What is curiously absent from any of the rantings of these loons is any expression of belief that what Nancy Pelosi has just done will help the country. They’re simply reduced to praying that it will, and complaining about Republicans. Barney Frank, Chuck Schumer, Franklin Raines (the Democrat CEO of Fannie Mae who made off with $90 million from buying up bad bank loans) seem to escape scrutiny. Not very persuasive, dopes.

socialist 101 says: “…there is no literate person alive who does not recognize that it was a benign, well-intentioned government policy of encouraging home loans to people who couldn’t pay them back.
I say: Wow, you present a real chicken or the egg conundrum; did your arrogance facilitate your ignorance, or did your ignorance facilitate your arrogance?
Either way, the result is the same. You’re just another reliable stooge for the right wing echo chamber, faithfully spreading this new idiocy; blaming the Community Reinvestment Act for taking down the entire global financial system. And the CRA cratered wall street in just two short years making the same closely regulated loans they’d been making for the previous twenty eight! A heinous, racially-tinged assertion designed for and spread by the fools that really want to believe such b.s.
It is a categorical and indisputable fact that deregulation, leading to over leveraged securities and unfunded credit default swaps is at the heart of our current crisis.
The two bipartisan actions that allowed this melt down to happen:
The Financial Services Modernization Act of 1999 that allowed banks, brokerage firms, and insurance companies to offer exactly the same services.
The Commodities Futures Modernization Act of 2000 which, amongst other things, deregulated lending derivatives thereby making it possible for banks, brokerage firms, and insurance companies to issue and trade credit default swaps without any government oversight.

The great brilliant Obama and his genius treasury secretary Geithner have decided to spend another trillion dollars on the bailout. This is after liberals criticised the first bailout.

There they go again!!!!!!!!!!!!Graham should run for Prez, since he couldn’t pull his limping side-kick across the finish line. What a Fraud! I didn’t hear a “peep” from you sir, when your former party boss was robbing the country. What was your cut?

This adminstration is in so far over their head they don’t know which way is up. Obama is lost ! And Geitner, how can a man who could’t figure out Turbo Tax have a clue of a plan. And this is the guy who had to be nominated because he was part of the original bailout plan. What a joke! Obama in the press conference did’n want to take “Tim’s” thunder away and talk details. There is no plan, no details. Welcome to CHANGE YOU CAN BELIEVE IN. I’m nauseous.

aw, Joe’s nauseous…got throw up and go back to your fancy job or playstation. solving the financial crisis is an occasion to take cheap shots then you’re not hurting enough. you probably have off shore accounts. at least Geitner paid his taxes and penalties. do you pay taxes?

Hummm….still trying to find that clause in the ‘big document’ they’ve all sworn to protect & uphold: The Constitution. Guess I missed in college where extended UNEMPLOYMENT, funding STD research (which is already done in the PRIVATE sector) or frisbee golf courses they 1) are allowed to give $$ (MY taxes) to, 2) create/save jobs (what happens when that course, bridge, road, etc. is FINISHED??)

Paul Wall wrote that the current crop of top bank executives “should be in the unemployment line making room for recent MBA graduates who are up for the job.”
While I agree that these greedy CEOs should be in the unemployment line (or better yet, prison), it seems to me that they should be replaced with competent bank regulators, not MBAs.

David D.—i don’t hate the wealthy, just the wall street crowd that put us in this mess. if sitting and doing nothing would improve the economy i would be for that. what do you propose to help the economic situation? since you are obviously wealthy and have multiple sourses of income and no corncern for you finances you can see that wealthy people make omissions honestly. yeah i can use Turbo Tax but i don’t think the average person with 15 sources of income can. and people make mistakes.
but the IRS will spend $100,000 to fine someone using the 1040 $50 before they will ever look into individuals with complex income situations. i guess that’s how the rich get and stay rich.

There was a GOP proposal that the MSM didn’t really voice: I forgot which Congressman from TX but it was a tax holiday. Basically, the gov’t thinks $800 billion is a good stimulus package, which is how much money the Feds collect in income and payroll taxes in 6 months. So, we taxpayers don’t pay any of these taxes for 6 months, instead we keep it and spend it how we see fit. That way, the people who earned the money get to decide who receives economic stimulus, rather than lawyers in Washington, DC. Not a bad idea. The lawyers on the Hill wouldn’t like it because it reduces their power (and, what would happen when the tax holiday ended?…), so you won’t see it happen without A LOT of pressure from us voters.
The better choice, of course, would be to just stop taxing production altogether — just tax consumption. Overconsumption got us here (both private and public) fueled by the loose monetary policy of the Fed Reserve, so tax that. Why tax production? Isn’t that by definition counterproductive???

So what is going to happen to Barney Frank and Chris Dodd? They were overseeing the financial part of the housing fiasco and report to the Bush administration that everything was fine and no adjustments were needed just a year before the bottom fell out. Oh…they stay and the private sector upper managment is terminated. Typical Democrat B.S. Barney Frank and Chris Dodd should be fired by the voters. But they actually are there CHASTISING THE CEO’S…unbelievable!!!