Kerry: Geithner ‘Has to Lead Now’
EmailABC News’ Matthew Jaffe & Rick Klein report:
Treasury Secretary Tim Geithner took office six weeks ago. In that time, the Treasury Department has launched a $2 trillion financial stability plan to rescue the nation’s struggling banks and unveiled a $275 billion program to help homeowners avoid foreclosure. All this with a bare-bones staff at his disposal.
But with the economy shedding jobs and Wall Street continuing its spiral, already some prominent lawmakers — including some on the left — are calling for Geithner to speed up the process.
"The secretary has to lead and he has to lead now, as soon as possible," Sen. John Kerry, D-Mass., said in an interview with Bloomberg TV’s Al Hunt that will air later this weekend.
Kerry, a senior member of the Senate Finance Committee, noted that Geithner and his aides "deserve the leeway" to make carefully considered judgments — but made clear that he expects big new steps.
“They’ve shared with people, sort of, how they’re moving,” Kerry said. “I think they’re going to, hopefully, move somewhere in the near term and I urge them to do so. But I think they deserve the leeway to be able to make that judgment.”
But his comments come at a time when impatient critics are already placing Geithner’s job on the line.
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Rush Limbaugh is like the Randall Flagg of the Republican Party. It’s just a matter of time till doomsday for him.
Posted by: 33Greeper | March 6, 2009, 4:11 pm 4:11 pm
Maybe he’s not up to the challenge?
Posted by: Mack | March 6, 2009, 4:32 pm 4:32 pm
It looks as though even Lurch is getting tired of the Turbo Tim
Posted by: DJ | March 6, 2009, 5:21 pm 5:21 pm
Kerry, why the long face?
Posted by: Angie | March 6, 2009, 5:51 pm 5:51 pm
Kerry…..Kerry…..Kerry…
Oh yeah, the Kerry that got schooled by Bush in the election in ’04. That Kerry.
Posted by: Trace | March 6, 2009, 5:52 pm 5:52 pm
Oh yeah, Bush stole the election again from Kerry. Geithner has done a good job in the 6 weeks he’s been there. Slow, and analystical.
Posted by: sngeorgia | March 6, 2009, 6:00 pm 6:00 pm
Geithner “has to pay his delinquent
taxes now”.
Posted by: Trajan | March 6, 2009, 6:15 pm 6:15 pm
Yeah, Geithner really needs to hurry. Got to find more ways to help his criminal buddies in the financial sector.
Posted by: Ted Johnson | March 6, 2009, 6:32 pm 6:32 pm
I only wonder where were the Treasury Secretary in the past 8 years. Didn’t he know what was going on. Why didn’t he do something…oh, he was a Republican I forgot, he was part of the Problem, they all was on the “take” from Wall Street and the Banks. He must have been Unregulated too.
Posted by: sngeorgia | March 6, 2009, 6:53 pm 6:53 pm
Our prez also has two economic advisers that have been nominated….but have not yet gone thru the confirmation procedure….
It is against the law to ‘advise’ the president until they are confirmed…..
I can only assume he does’nt think he needs their input……
But then he’d rather hop a jet for a photo op….than take care of the mundane business at hand….
Oh I forgot…he’s busy with the “Rush” thing….
Posted by: J Moore | March 7, 2009, 4:36 am 4:36 am
You republican pukes need to go find a street corner and hold up your “The End Is Near” signs, while the rest of us put our efforts into helping the country solve this crisis..we are sick of having to put up with your lack of solutions.
Posted by: cowgirl | March 7, 2009, 11:04 am 11:04 am
I’ll go with Paul Krugman on this one, for the time being. Unless TG is delaying the announcement of planned strong action until some factors I am unaware of are resolved, there seems to be a problem – the actions which have been taken have been good, but insufficient – and at least one of those actions which have been “floated” but not announced is just awful (it may slip quietly beneath the waves – I hope).
But in economics and finance the “announcement effects” of policy have to be considered – and it is usually to implement a policy when it is announced, not after. So some of the “slowness” may be a simple matter of waiting to talk, until we are ready to move on the doing.
Posted by: Jim Pivonka | March 8, 2009, 1:14 am 1:14 am
Isn’t Mr. Obama supposed to lead, instead of Mr. Geithner?
Posted by: young_voter | March 8, 2009, 8:41 am 8:41 am
The trouble is he IS leading.
Posted by: WorldclaZZ | March 8, 2009, 8:41 am 8:41 am
Obama is leading us into deficit oblivion. The government is still footing the bill for all the failed institutions, they are still paying for wars around the globe, and at the same time he is trying to push through massive new government spending.
Posted by: conservative | March 8, 2009, 9:11 am 9:11 am
Geithner should have NEVER been appointed Secretary of the Treasury. The guy is a tax cheat and his appointment is an insult to American taxpayers.
Posted by: CW | March 8, 2009, 9:30 am 9:30 am