The ‘Unflappable’ Mr. Geithner
House Republicans smell blood.
Congressional Democrats are frustrated with aspects of his performance.
But Obama administration sources insist that Treasury Secretary Tim Geithner is "unflappable" and that there’s "no daylight" between him and President Barack Obama on how to handle AIG or the broader financial crisis.
The betting against Geithner holding his job into next year may have risen on Intrade over the last week, but Obama’s backing all but guarantees that Geithner won’t be going anywhere anytime soon.
As one well-placed Democrat put it, members of Congress might "grumble in the cloakrooms but that’s it," as long as Obama has Geithner’s back. That should stop any internal administration moves against Geithner too.
But to shore up his long-term position Geithner needs two things:
1) His story on the AIG bonuses has to hold up. The Geithner team insists he wasn’t briefed on the scope of the bonus issue before last week, and that he did what he could as soon as he found out.
But a source from the AIG camp points out that one of Geithner’s top deputies at the NY Federal Reserve Bank, Sarah Dahlgren, was briefed on the bonus plan at AIG headquarters on November 11th.
Administration and NY Federal Reserve Bank officials insist that it’s not unusual that this information was not passed up to Geithner given the rush of other issues they were dealing with then, adding that Geithner began to pull back from daily business at the NY Fed once it was clear he would be nominated for Treasury Secretary.
But the questions about what Geithner knew, and when he knew it, won’t stop yet.
2) His roll out of how to deal with all those "toxic assets" in the banks has to work. Will it boost the banks enough to delay the need for another round of TARP money until this populist fire cools down a bit? Will he find the sweet spot — a plan that’s tough enough on the banks to appease an angry public but not so tough that it tanks the markets?
Final details are being nailed down now, and administration officials say the announcement is likely either Friday or Monday.
–George Stephanopoulos
Email
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Obama Avoids Questions on Contraception Rule
Geithner’s upcoming bank plan will, by all accounts, call for another $750 billion of government money to buy toxic assets. At which point, Mr. Unflappable will likely become Mr. Unemployed.
Posted by: B. Bear | March 18, 2009, 7:00 pm 7:00 pm
Yeh, Bush was “unflappable too, that’s why this country is in the mess it’s in.
Give me five minutes with Geithner, I’ll flap his candy ass!
Posted by: CC | March 18, 2009, 7:04 pm 7:04 pm
Geithner needs to go. He cares more about not upsetting Wall Street than about protecting the American taxpayer. Yet, at the same time, Wall Street doesn’t respect him. That’s 0 for 2. If he didn’t tell the whole truth on AIG, that’s strike 3. And if he didn’t know about the bonuses before last week (he SHOULD HAVE), that’s also strike 3.
Posted by: California Voter | March 18, 2009, 7:06 pm 7:06 pm
I think our Treasury secretary should be someone who actually pays their taxes.
Posted by: SChaos1701 | March 18, 2009, 7:08 pm 7:08 pm
It wasn’t Geithner, it was Obama, he had the language changed. See CNN
Posted by: Thinking | March 18, 2009, 7:08 pm 7:08 pm
what a scam, well atleast now you guys can say that the problem has been (the failed policies of the last 8 years and 2 months)get some new talking points. this is not going well.
Posted by: stickman | March 18, 2009, 7:09 pm 7:09 pm
March 4 – The financial sector invested more than $5 billion in political influence purchasing in Washington over the past decade, with as many as 3,000 lobbyists winning deregulation and other policy decisions that led directly to the current financial collapse, according to a 231-page report issued today by Essential Information and the Consumer Education Foundation.
The report, “Sold Out: How Wall Street and Washington Betrayed America,” shows that, from 1998-2008, Wall Street investment firms, commercial banks, hedge funds, real estate companies and insurance conglomerates made $1.725 billion in political contributions and spent another $3.4 billion on lobbyists, a financial juggernaut aimed at undercutting federal regulation. Nearly 3,000 officially registered federal lobbyists worked for the industry in 2007 alone. The report documents a dozen distinct deregulatory moves that, together, led to the financial meltdown. These include prohibitions on regulating financial derivatives; the repeal of regulatory barriers between commercial banks and investment banks; a voluntary regulation scheme for big investment banks; and federal refusal to act to stop predatory subprime lending.
“The report details, step-by-step, how Washington systematically sold out to Wall Street,” says Harvey Rosenfield, president of the Consumer Education Foundation, a California-based non-profit organization. “Depression-era programs that would have prevented the financial meltdown that began last year were dismantled, and the warnings of those who foresaw disaster were drowned in an ocean of political money. Americans were betrayed, and we are paying a high price — trillions of dollars — for that betrayal.”
“Congress and the Executive Branch,” says Robert Weissman of Essential Information and the lead author of the report, “responded to the legal bribes from the financial sector, rolling back common-sense standards, barring honest regulators from issuing rules to address emerging problems and trashing enforcement efforts. The progressive erosion of regulatory restraining walls led to a flood of bad loans, and a tsunami of bad bets based on those bad loans. Now, there is wreckage across the financial landscape.”
Posted by: caliguy55 | March 18, 2009, 7:20 pm 7:20 pm
I’m getting sick of Stephanopoulos’ excusing Obama and Company. They are incompetent and I’m sick of all the excuses and spin. Maybe they can learn something if they are held accountable. For the good of the country…be objective.
Posted by: Michael | March 18, 2009, 7:23 pm 7:23 pm
Stephanopoulos- You are carrying the water for Obama again instead of reporting the news. The real story is that the Democrats in Congress, like Chris Dodd wrote provisions into the stimulus which allowed the AIG bonus plan. The Democrats approved it and Obama signed it. This mess is 100% Obama’s problem and his outrage is a total fraudulent emotion. He knew all along and is lying.
Posted by: brian | March 18, 2009, 7:33 pm 7:33 pm
Stephanopoulos doesn’t report news, he makes excuses and puts out whatever the Democrat Party line is for the day. He is not qualified to do anything but be a political hack. He needs to stop reporting stuff he knows are lies.
Posted by: brian | March 18, 2009, 7:36 pm 7:36 pm
Obama officially got in bed with Wall Street last week. Hannity and Limbaugh got to him. So, anything that moves the DOW, moves Obama. Geithner and Paulson crafted bailouts economics.
Posted by: bjene | March 18, 2009, 7:37 pm 7:37 pm
How ironic that on http://www.opensecrets.org, Obama and Dodd each received over $100k in contributions from AIG. Obama is starting to show his true ILLINOIS (corrupt) colors.
Posted by: Vonzy | March 18, 2009, 7:38 pm 7:38 pm
Stephanopoulos cannot be objective. He is so in love with Obama that at any time he will leave with him – he is so pathetic and it is not puppy love – he will protect him at any cost. Obasma has no morals, no sense and certainly no experience. He too is pathetic. One mess after the other and pretty soon Geporgie Boy will just have to decide what to do.
Posted by: Jane | March 18, 2009, 7:40 pm 7:40 pm
They’re politicians, and therefore, liars and thieves.
Posted by: WhatChange? | March 18, 2009, 7:47 pm 7:47 pm
Obama is a spineless, lazy, self-serving liar in perpetual campaign mode. He’ll ditch Geithner. Just watch.
Posted by: Nobama | March 18, 2009, 7:50 pm 7:50 pm
Good to see that the biggest concern people have is now the bonuses that were set last year.
Nobody is talking about 12 out of the top 13 subprime companies going busted as they did during the Bush administration.
No one is talking about the last subprime a massive company like Countrywide going out.
No one is talking about a 157-year-old bank like Lehman going busted.
No one is talking about an investment bank like Bear Steans dying.
No one is saying “it is going to get worse before it gets better”.
No one is talking about “will the bottom ever come”.
This is a remarkable step of progress. I think the administration is loving the fact that people are now focusing on small, political squabbles because values are improving, the big issues are no longer the issues, and huge progress has already been made. The $28 Trillion in short interest is trying to cover quick before their short investments become worthless.
Posted by: slim | March 18, 2009, 7:52 pm 7:52 pm
hecka of a job, Brownie!…err, I mean Geithner!
Posted by: Jim | March 18, 2009, 7:52 pm 7:52 pm
From time magazine:
[[Though Treasury Secretary Timothy Geithner told Congressional leaders Tuesday he only learned of the impending $160 million bonus payments to members of AIG’s troubled financial products unit March 10, sources tell TIME that the New York Federal Reserve informed Treasury staff that the payments were imminent on February 28. That is 10 days before Treasury staffers say they first learned “full details” of the bonus plan, and three days before the Administration launched a new $30 billion infusion of cash for AIG.
“Treasury staff was informed about the new bonuses in a Feb. 28 memo that the March 15 [bonus payment] date was upcoming,” a Federal Reserve source tells Time. A Treasury department source, speaking on background, confirms the e-mail memo and its contents, and says further, “Everybody knew that [AIG] had a retention issue.”…
The Treasury department official says the fault appears to lie with career staffers at the department, who failed to report the imminent bonus deadline up the chain to Geithner. This failure may be a by-product of the difficulty he has had staffing up at Treasury. But Geithner still has some personal vulnerability on the issue. It was he, as head of the New York Federal Reserve, who negotiated the AIG bailout last September. At that time, he could have sought to get bonuses repealed as part of the massive government loan.]]
Posted by: liz | March 18, 2009, 7:57 pm 7:57 pm
“Nobama” is a spineless, unctuous, self-serving hack for a GOP 527. He’ll say whatever Rush tells him to say…
Posted by: REality Check | March 18, 2009, 8:05 pm 8:05 pm
Obama and Geithner should both resign. They both don’t know what they’re doing.
Posted by: Rajska | March 18, 2009, 8:08 pm 8:08 pm
I think a lot of Republicans and their supporters are peeved with Geithner – and with Obama – simply because a Democrat occupies the White House. They would be kvetching and moaning even if the SecTreas was Mother Theresa (or another still-living soul of similar repute.)
That Geithner did not receive a notification forwarded while he was still in the appointment-confirmation process is pretty irrelevant, considering the mess he inherited.
Posted by: Jordan | March 18, 2009, 8:09 pm 8:09 pm
Obama prints another trillion dollars today? This guy is absolutely out of control. I hope all you people who voted for this idiot realize what a monster you have created. He is not competent to be President and needs to be impeached and removed.
Posted by: brian | March 18, 2009, 8:11 pm 8:11 pm
BHO & Geither. What a team. Just missing one stooge, or stooges, Pelosi, Reid, Dood & Frank. Yuk,Yuk. The laughing stock of the world.
Posted by: patriot629 | March 18, 2009, 8:14 pm 8:14 pm
Wonderful . . . Dodd is a liar and Obama is a cover your butt whiner that’s making me sick with his excuses. That old song and dance about what he “inherited” is horse pucky and has run its course. Obama is only marginally capable of flipping hamburgers and remembering that he is the president is frightening as hell.
Posted by: rplat | March 18, 2009, 8:14 pm 8:14 pm
AIG contributions came from EMPLOYEES, not the company.
As the candidate who raised the most money, ever, from millions of donors (i.e. taxpayers), Obama is going to be the #1 or #2 recipient of “funds” from ALL companies.
It’s not money from a company, but from employees… when did that become corrupt?
Posted by: Tom | March 18, 2009, 8:19 pm 8:19 pm
The “loophole” language was put in because of all the braying and gnashing of teeth from the “he’s a socialist”, “you can’t have the government intrude in business” crowd — the GOP.
Now, that same crowd is claiming that Obama should have “taken control” and “told the banks what to do”.
The situation sucks all around, but let’s not be hypocrites.
Posted by: Tom | March 18, 2009, 8:21 pm 8:21 pm
“Unflappable”????
Posted by: shewasis | March 18, 2009, 8:26 pm 8:26 pm
Some of these posts are clearly from the same person under different names – same writing style, same anti-Obama sentiments. One or 2 posters (posting multiple times each) are clearly trying to UNFAIRLY blame Obama who has been in office for 2 months for problems created over 8+ years. These HYPOCRITICAL venters are just dishonest to their core. WHERE WAS YOUR OUTRAGE THE PAST 8+ YEARS? Years during which people like Madoff made it big. Not to mention all the ‘hidden’ stuff yet to come to light. PLEASE AT LEAST DISGUISE YOUR HYPOCRICY. You are way too tranparent.
Posted by: Happy Smiley | March 18, 2009, 8:34 pm 8:34 pm
I admire that President Obama is standing by his choice. I would like to have seen the Republican choice. LOL
Posted by: Steve | March 18, 2009, 8:35 pm 8:35 pm
Obama and Geithner are both morons and crooks…….I just can’t figure out which one is the dumber or the more corrupt. It is such a tuff call. I say we fire them all Obama, Geithner, Congress and start all over. Obama must go……..he is killing our economy, and his stupidity is opening us up for attack from many different nations.
Posted by: PresGov | March 18, 2009, 8:36 pm 8:36 pm
I still can’t believe Obama claimed that he and his administration didn’t know about the bonus’s till this month…when all we investors knew and Geithner had to have known given that he gave Aig the right to. LOL.
Posted by: PresGov | March 18, 2009, 8:37 pm 8:37 pm
George is a good looking press secretary who worked for Clinton … the American public is not that naive to think any journalist is truely objective. As for the AIG fundraising for Dodd and Obama (gee those name ring a bell) yes its a PAC, yes its individuals, but its always senior management that influences the dollars that miraculously help individuals such as Obama and Dodd win elections. Geithner is taking on a no win situation, but we are better off believing in a bad solution and follow its course, than throwing good money after good to crooks, I mean lobbyists, I mean responsible Wall Street folks in institutions of great reputation. Like Obama said, DC is where good ideas go to die, ‘Wall Street is where you sell your soul to make a buck.’ my quote.
Posted by: dareedle | March 18, 2009, 8:38 pm 8:38 pm
CAUGHT LIKE RATS on a sinking ship! Obama has a team of tax cheats who pretend to care about the American people but guess what? The people have now realized they elected a fraud and his clowns. Pelosi and Reid are selling out the working Americans as fast as they can. Now Pelosi demands that Immigration stop arresting these poor tomatoe pickers and their drug dealing friends and legalize the millions who will destroy America for sure. Bye bye to the American Dream!
Posted by: rockychance | March 18, 2009, 8:45 pm 8:45 pm
“Timmy, you’re doing a heckuva job”
Posted by: kyle | March 18, 2009, 8:46 pm 8:46 pm
Very imfortant works————Making garden on most historical propery——-buying swing -play sets (with my own money) crazy—–7000. could have helped some children or old poor folks
Posted by: RUTH BAIRD | March 18, 2009, 8:46 pm 8:46 pm
He completely flappable. He has been flapping since he took this job. Not flying. Just flapping.
Posted by: This_End_Up | March 18, 2009, 8:50 pm 8:50 pm
He completely flappable. He has been flapping since he took this job. Not flying. Just flapping.
Posted by: This_End_Up | March 18, 2009, 8:50 pm 8:50 pm
Standing behind your man is always the case until he voluntarily submits his resignation and the president “regretfully” accepts it. Happens every time.
Posted by: LongT | March 18, 2009, 8:51 pm 8:51 pm
Tim Geithner didn’t overlook applying for the tax reimbersement payment before he overlooked paying the tax. Unfortunate oversight. Yeah, right!
Posted by: LongT | March 18, 2009, 8:55 pm 8:55 pm
I guess irrational angry people are most likely to comment. I think all 3 of you are doing a great job – Obama, Geithner, and George.
Sometimes I think the problem is the news, not what it is reporting. If I hear the words outraged, bubble, or unprecedented again in this decade, it will be too soom.
Posted by: kitchensink | March 18, 2009, 8:56 pm 8:56 pm
Happy Smiley; I don’t think there is a multiple posting conspiracy here. I just think a lot of people are fed up with the situation. Not so much with Obama personally, but with his appointments and out of control spending. I must admit the guy is smooth, but his Geithner pick is turning out to be a disaster. Besides, we posters love to bitch. It’s what we do.
Posted by: LongT | March 18, 2009, 9:02 pm 9:02 pm
The mess they inherited?????? They did not get drafted for the job. Barry and Little Timmy vigorously applied for the jobs and told us we needed change.Barry spent millions telling us how evil Bush was and how sugar would pour from his lips and sunshine would blow out of his bum and you guys bought into it.
Posted by: Boxcar | March 18, 2009, 9:03 pm 9:03 pm
Sack Geithner.
Posted by: John Fish | March 18, 2009, 9:03 pm 9:03 pm
Sack Obama. The man doesn’t know what he is doing. I regret voting for him.
Posted by: Bill Richards | March 18, 2009, 9:16 pm 9:16 pm
Criminology 101 – Not MY government; Not MY president. I did NOT vote for him and believe me, I will actively support his impeachment.
WORST MISTAKE IN US HISTORY
Posted by: Xanadu | March 18, 2009, 9:23 pm 9:23 pm
What difference does it make if Geithner knew about the bonuses before? There was nothing to be done about it then, just as there’s nothing to be done about it now (short of enacting new legislation?). It’s funny that politicians act so swiftly when they smell political capital (rememmber Terry Schivo?), but try to get something meaningful done and they can make that last forever.
Posted by: dsec1 | March 18, 2009, 9:23 pm 9:23 pm
Make a difference, Mr President! Out the Treasury people who killed the Snowe proposal, the fire them! No more business as usual!
Posted by: Steve Horton | March 18, 2009, 9:24 pm 9:24 pm
Morons !! You all knew his plans from the begining. Obama is doing what HE said he was going to do !! He will is following the socialist strategy that has Europe in shambles ! Yeah. Ask any european worker and they will tell you. High taxation, medical care that is way bellow what we got. Unable to have more than one child because they can’t afford to have more, and the list goes on and on. I lived in Europe for years and let me tell you we have it better. Why we want to be like them ?? Obama is a moron and his Treasury Secretary an idiot that cannot even know fill his income tax. YOU MORONS wanted change and now you have it. Enjoy it.
Posted by: Frank | March 18, 2009, 9:30 pm 9:30 pm
Can the tax cheat.
Posted by: larryervin1 | March 18, 2009, 9:31 pm 9:31 pm
Mr. Unflappable, Timmy and Obama’s other Cabinet appointments who cannot pay their taxes, well, it makes sense that they did not see Chris Dodd re-writing the Stimulus Bill so that the AIG Bonuses went sailing on thru! What a pack of blitheriing idiots! and they thought Bush was stupid. Bush is a Rhodes Scholar compared to these fools who are ruining our countrys financial future.
Posted by: Sandy | March 18, 2009, 9:34 pm 9:34 pm
Boxcar, it’s bush’s fault, you remember the villiage idiot we had for the last 8 years. Yeh, that one. Obama will be your president for the next 8 years. So just relax, it feels better when your relaxed. LOL
Posted by: Boxcar idiot | March 18, 2009, 9:38 pm 9:38 pm
In a dramatic reversal Wednesday, Sen. Chris Dodd, D-Conn., confessed to adding language to the stimulus bill last month that exempted all bonuses that bailed-out companies had promised to employees before Feb. 11, 2009.
Dodd told FOX News that Treasury officials forced him to make the change.Only reported on Fox news
Posted by: payupmidclass | March 18, 2009, 9:39 pm 9:39 pm
I think the country is expecting things will change overnight once Obama is the President,especially with the economic crisis, The secretary of treasury has tons of paperwork to go through before he can make any judgement, Give him a chance to show what and how he can bring the economy back.
Posted by: deus | March 18, 2009, 9:39 pm 9:39 pm
Frank, your gonna get change whether you like it or not so just kick back and chill out. It’s better for the blood pressure. Obama is your president too. He’s looking out for you.
Posted by: Frankie boy | March 18, 2009, 9:41 pm 9:41 pm
Unflappable…maybe. Incompetent…certainly.
Posted by: Tony | March 18, 2009, 9:42 pm 9:42 pm
We would like to Invite Obama and his treasury secretarty to learn how to Ski here in wonderful Canada.
Posted by: Jacques | March 18, 2009, 9:47 pm 9:47 pm
Don’t worry. Be happy. Bailouts are fixing everything. You don’t even need a JOB. Just kick back and buy stocks with the Wall Street gurus.
Posted by: bj | March 18, 2009, 9:49 pm 9:49 pm
Boxcar idiot….the truth really sucks for you doesnt it?
Posted by: Boxcar | March 18, 2009, 9:55 pm 9:55 pm
Frank boy..Dont worry I believe I have live longer than you. He is your president and you can keep him is all yours. By the way stop the Pelosi kool aid and watching Keith” Doberman and his twin brother Rachel Maddow on MSNBC.
Posted by: Frank | March 18, 2009, 10:09 pm 10:09 pm
Geithner’s upcoming bank plan will, by all accounts, call for another $750 billion of government money to buy toxic assets.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
ROFL Let the democratic Excuse machine begin.. The largest BIG CORPORATE WELFARE Party EVER
Posted by: ChicagBob | March 18, 2009, 10:10 pm 10:10 pm
OBAMA IS A CHICAGO CROOK! I CAN’T BELIEVE I VOTED FOR HIM!!
“Before Timothy Geithner became secretary of the Treasury, he was working hand-in-hand with AIG and other financial institutions to provide them hundreds of billions of dollars of taxpayer money as one of the key architects of the financial sector bailout,” he said. “I’ve had serious concerns about Secretary Geithner from the moment he was nominated. In the months since, he has shown us time and again why he was the wrong choice for this critical post.”
-Rep. Connie Mack
Posted by: bhuddaflii | March 18, 2009, 10:12 pm 10:12 pm
George Stephanopoulous you should stop covering for Obama. Your reporting has lost objectivity and it is beginning to get old. I have lost respect for you; as a respectable Journalist; and I believe that the people once bamboozled are beginning to wake up…
Posted by: Jelssy | March 18, 2009, 10:18 pm 10:18 pm
Anybody who can give trillions to the biggest banks and companies in America is cool with me. Kick back and do some day-trading in these company’s stocks. You don’t need a job. Unemployment can go to double digits and you will still get rich.
Posted by: jt | March 18, 2009, 10:19 pm 10:19 pm
Probably the worst Treasury nominee since the depression, Geithner has overtaken paulson in that aspect.
Posted by: Greg h | March 18, 2009, 10:32 pm 10:32 pm
President Barack Obama: “The buck stops with me”.
- – - – - -
Wow! He is good!
In a single swoop, President Obama took ownership of the AIG bailout bonus debacle, all while defanging the Republican snakes and providing cover for Sen. Dodd, Treasury Geithner, and the Democratic Party.
The Man is Good!!!
May GOD Bless the United States of America!
May GOD Bless the Obama-Biden-Clinton-Gates Leadership Team!
Posted by: Perusing-Through | March 18, 2009, 10:36 pm 10:36 pm
THIS MAN IS GOOD!!!
Just when Republican snakes had circled President Obama and were licking their chops with anticipation of an Obama sandwich; the President flies out of Washington D.C. to surround himself with the American people; then elegantly, and artfully, and in ways George Bush could never hope, explains in basic layman’s term how AIG became a disaster and how Obama is really trying to fix it so it will never happen to the American people again.
This Man is Good!
Oh GOD How I Love This Man!!!
Posted by: Perusing-Through | March 18, 2009, 10:37 pm 10:37 pm
Bailouts are cool!
Posted by: bob | March 18, 2009, 10:38 pm 10:38 pm
Seens as though the Repukes was working hand in hand with the financial institutions. Remember, “they are the producers” of our nation….I guess with my hard work, I was a fly on the wall.
Posted by: sngeorgia | March 18, 2009, 10:39 pm 10:39 pm
MESSAGE TO REPUBLICAN SNAKES
Catch’em if you can.
Oh, , , I’m sorry. Can’t catch President Obama?
I guess it is pretty hard for a “belly slithering GOP snake” to catch an intelligent fleet-feet Harvard graduate that has the concern of the American people in heart & mind.
Posted by: Perusing-Through | March 18, 2009, 10:40 pm 10:40 pm
Wall Street wizards are loving these bailouts. All people should love bailouts. Buy a bunch of stocks and get filthy rich.
Posted by: Terry | March 18, 2009, 10:41 pm 10:41 pm
Unflappable? That’s a laugh. More like unqualified.
Posted by: therockofages | March 18, 2009, 10:42 pm 10:42 pm
Maybe BHO can be next in the unemployment line right after Geithner
Posted by: Mark | March 18, 2009, 10:43 pm 10:43 pm
Looking more and more like shady politics out of that shady State of Illinois. Obama better cut him loose NOW early in his Presidential career, so the public will forget about him.
Posted by: R Garcia | March 18, 2009, 10:48 pm 10:48 pm
George!
Stop being such a cheerleader for Obama.
You know they must have known about these bonuses way before last week!
Arn’t you growing tired of BO’s selective memory?
Never heard Rev. Wright say anything bad
Never knew Rezko had a bad reputation
Never knew Ayers was a terrorist
Never heard anything bad about Blago
Didnt know about bonuses being paid out
Next!
Posted by: opedanderson | March 18, 2009, 10:49 pm 10:49 pm
Washington is in bed with Wall Street – it’s by design, to help us all feel confident again. Aren’t you all feeling it?
Posted by: Jerry | March 18, 2009, 10:50 pm 10:50 pm
“Timmy, you’re doing a heckuva job”
Barrack
Sound Familar?
Posted by: Ed L | March 18, 2009, 11:05 pm 11:05 pm
In a stunning development, Sen. Christopher Dodd said that Obama administration officials asked him to add language to last month’s federal stimulus bill to make sure the controversial AIG bonuses remained in placeOver at cnbc.com right now. Let’s hope they all eat eachother.
Weight of Glory on March 18, 2009 at 9:30 PM
President Obama owns this mess. Geithner approved the bonuses and Obama signed off, then he goes on national tv and claim ‘outrage’ as if he’s still the community organizer.
While claiming ‘outrage’ at bonuses, President Obama approves big bonus checks for Fanny/Freddie.
Why isn’t President Obama outraged over the MILLIONS he and Dodd got in campaign contributions from AIG????
Posted by: TN mom | March 18, 2009, 11:20 pm 11:20 pm
Chris Dodd (D) has already come out this afternoon and changed his story saying it was the Obama Administration who made him put the loophole in allowing AIG bonuses to be paid. WHAT? All the media is covering it except for ABC. George are you one of Obama’s BUTTBOYS?
Posted by: Motney | March 18, 2009, 11:20 pm 11:20 pm
To GOP haters, It doesn’t related with last 8 years of Bush that some congressmen of GOP and DNC have requested Tim Geithner must be resigned or fired. Do you remember what Obama and Tim Geithner said that “we’ve been closely monitoring every single dime how to use the huge money, 3.55 Trillion Dollars…….” after Tim announced the plan to rescue banks just 5 or 6 weeks ago. On the day, Dow Jones plunged 358 points. Obama and Tim, however, failed totally to implement of monitoring even $165 Millions dollars. Obama, Tim, Frank Barney and Chris Dodd should check and confirm the contracts between the employees, receivers of bonus and AIG before the teams transfer wired the huge money, but they didn’t do at all. This is Obama team’s biggest mistake. IT’S TIME TIM GEITHNER & FRANK BARNEY TO GO AWAY for TAX PAYERS IN AMERICA.
Posted by: DNC must be changed. | March 18, 2009, 11:25 pm 11:25 pm
Oooooh this is getting good:
In a stunning development, Sen. Christopher Dodd said that Obama administration officials asked him to add language to last month’s federal stimulus bill to make sure the controversial AIG bonuses remained in place
Over at cnbc.com right now. Let’s hope they all eat eachother.
Weight of Glory on March 18, 2009 at 9:30 PM
Well, to quote a D.C. classic, “What did the president know and when did he know it?”
And what will it take to get Dodd to stay quiet or name names?
Posted by: Tim | March 18, 2009, 11:25 pm 11:25 pm
Dodd and Obama got the most political contributions from AIG employees. Obama got $100,000+, Dodd got more.
Posted by: Sam | March 18, 2009, 11:30 pm 11:30 pm
I suppose Obama thinks Geithner can walk on water too.
Posted by: Hugo the Second? | March 19, 2009, 12:02 am 12:02 am
Obama campaigned on lies, as most politicians do. However, he mislead the public that put him in office. I say that should be enough to impeach him. It is called “fraud”.
You will have 5 days to read any bills before it is voted on. Oh, nevermind, we will just pass this little bill really quick.
It still baffles me that no one read the bill before it was voted on! Do even the democrats care that it might affect their grandchildren? Oh… that’s right, they are politicians so they will get all the health care they need regardless of how minor it is. while the rest of us suffer.
Posted by: Worriedboutlife | March 19, 2009, 12:08 am 12:08 am
Sarah Dahlgren has been incompetent for a long time. She was in charge of all the Fed’s large banks leading up to this crisis and now her incompetence continues. She is dismissive of intelligent peoples’ points of view and generally arrogant. It’s fitting that one of Geithner’s favorite fools may ultimately bring him down. Of course she will probably get a rotation and promotion which happens to all the incompetent officers at the NYFRB.
Posted by: Omni | March 19, 2009, 9:41 am 9:41 am
Tim G. is better than Hank the rich corrupt stupid guy from the last administration. Let him do his job.
Posted by: James | March 19, 2009, 1:50 pm 1:50 pm
CC said “Give me five minutes with Geithner, I’ll flap his candy ass!” ROFLMRAO—i can’t wait to see Rahm Emanuel kick yours!
Posted by: Paul Wall | March 19, 2009, 6:11 pm 6:11 pm
Paulson (+ Geithner, etc) designed this ‘Ponzi’ scheme (TARP). We understand everyone wanting us to buy more stock in order to keep the market up…fix the system…then we’ll have ‘confidence’ to invest.
And that FIX is simple and oblivious, but everyone seems not to be addressing it directly…
- it’s ‘Corruption-Corruption-Corruption’.
ie. special interest groups, earmarks, lobbyist, elimination of rules and regulations, the financial sector having contributed over $5.2B to political campaigns, same people who got us in this mess are now tying to get us out (humanly impossible…they will, and have instead spent most of the time & money trying to cover-up the industry’s underlining behavior).
Corruption is the ‘root’ problem here…as it is everywhere. Until that gets fixed first…everything else is redundant…we’re just pouring $$$ into the abyss! Wall Street has always been Ponzi Street, and the Golden Rule always applies; ‘never invest $$$ you can’t afford to lose’.
Fix the ‘corruption’ – then we’ll have ‘confidence’.
The solution – ‘Transparency-Transparency-Transparency’.
How? Start now Restructuring (nationalize, fix, resell) all the zombie banks – the FDIC does this every day.
Posted by: vanron100 | March 19, 2009, 10:06 pm 10:06 pm
I say fire Turbo Tax Timmy and let teleprompter do the job. Besides, teleprompter is already running the country!
Posted by: TxBoB | March 20, 2009, 7:28 am 7:28 am
The Fed announced it will pump a $1 trillion into the system by buying debt from our treasury.
Here’s what this means: We’re borrowing money from ourselves to pay for programs we can’t pay for. Its never worked before. Why will it work this time?
And that’s why the price of gold shot up about 75 bucks in 18 hours earlier this week.
Posted by: deanbob | March 20, 2009, 1:33 pm 1:33 pm
One thing I am conceerned about: Mr Geithner,Congress wants him to step downreally..who else is responsible for not reading the bill?everyone is doing this finger pointing, well here in the sad state of Minnesota we are taught that when you point a finger there is 3 pointing right back at you, not saying what he or anyone else did was right but let’s think about this:no one wants to admit their faults but maybe if Congress wants him to step down maybe they all need to be laid-off they’ll get a guaranteed 566.00 plus 25.00 extra a week..maybe if this were to happen maybe they would quickly turn around and start working together…gee I thought out here was “cut throught” shame on Congress as far as I am concerned thay all are responsible for this.
Posted by: Sheri | March 21, 2009, 11:09 am 11:09 am
Poor choice of words!
Incompetent is more like it.
The fact that the president is being
stubborn about keeping the tax cheat
as Treasury Secretary speaks volumes!
Posted by: reaganfan | March 21, 2009, 7:23 pm 7:23 pm
I am just wondering if all those Obama haters truly believe McCain would be doing a better job, or are they just using right wing rhetoric against a Democratic President (which is to be expected from right wing America). Also, those who have no idea about Europe should really keep their anti European sentiments to themselves. As someone who talks to her father in Germany every week I can tell you that the overall hysteria that is clouding the common sense and judgement in this country is not happening in Europe thanks to safety nets in great countries where people actually actually care about their fellow citizens. Maybe the US should take a page out of that book for change instead of just ranting and raving about the dangers of “socialism” yet supporting a pre emptive, absolutely appalling and completely unnecessary war that still costs us 10 billion dollars a month. I did not hear right wind America’s outrage about spending then.
Posted by: Chris | March 21, 2009, 11:04 pm 11:04 pm
Stephanapoulous:
You have lost all your cred as a journalist…are you on the Obama payroll TOO? There’s so few objective press corp who are not sleeping with the prez.
Why no coverage of the “tea parties”???
15,000 protesters in Ocean county, 5,000 yesterday is Cinc. Why so quiet GEORGE???
Posted by: mjishernameo | March 22, 2009, 9:07 am 9:07 am
I’m sick and feadup with all of the finger pointing of our leaders;saying, the democrats did this and the republicans did that. Let’s stop all the hating and the rage about the AIG situation,when honestly everyone in CONGRESS is getting their bonuses from the many,many lobbist that’s been a part of that culture for years. We are suffering out here on MAIN STREET and the AMERICAN people are lossing what trust we did have in the very people that we entrusted our futures. This problem did not happen over the past three or four months, this thing has been brewing for years,so let’s STOP the petty bickering do the DOGGONE job that the AMERICAN PEOPLE elected you to do. We are getting totally fed up with all of this petty bull-crap.. So take the fingers down and do your job or get fierd..WE ARE ALL IN THIS SHIGGADY TOGETHER,SO LET’S WORK TOGETHER AND GET OUR COUNTRY BACK ON TRACK.
Posted by: Lynus Rankins | March 22, 2009, 11:54 am 11:54 am
Chris:
I was just wondering if you are
so delusional that you think that
anyone who disagrees with President
Obama hates him?
Does everyone have to bow and agree
with your Messiah?
Do you think it’s possible that the
President and the “Keystone Kops”
he has appointed to his cabinet could
be Wrong? Stop Drinking the Kool Aid!
This is our future we’re talking about.
Posted by: reaganfan | March 22, 2009, 10:01 pm 10:01 pm