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07 Aug 2011 21:37

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Politics: So much for leaving; Timmy Boy Geithner sticking around for a while

While there was word on the street that he was going to depart after the brutal debt ceiling crisis, Obama wanted him to stick around instead. This sounds like an aneurysm waiting to happen. source
Posted by Ernie Smith • 0 Comments • Permalink

02 Aug 2011 10:32

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Politics: Timothy Geithner: Debt ceiling vote process might affect our credit rating

  • I don’t know. It’s hard to tell. I think this is a good result but a terrible process. And again, again, as the world watched Congress step up to the edge of the abyss it made them really wonder whether this place can work.
  • Treasury Secretary Timothy Geithner • Offering his take on whether the U.S. might get a credit rating downgrade despite the fact that the debt ceiling increase will likely pass the Senate today. Many of Geithner’s recent statements regarding the debt ceiling seem to indicate that consumer and investor confidence was shaken by the long, roundabout process it took to get a debt ceiling increase. We’ll see if he’s right. source
Posted by Ernie Smith • 0 Comments • Permalink

30 Jun 2011 19:00

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Politics: Timothy Geithner: Don’t believe the hype, I’m not leavin’ guys!

  • I live for this work. It’s the only thing I’ve ever done. I believe in it. I’m going to be doing it for the forseeable future.
  • Treasury Secretary Timothy Geithner • Denying the speculation about his possible departure from his post. By the way, has anyone figured out a way to see into next week? We’re not sure if we believe him. That said, he did claim that personal issues were weighing on his mind right now: “I have a family, and my son’s going back to New York to finish high school,” he said. “I’m going to be commuting for a while.” Hope he learns to love Amtrak. source
Posted by Ernie Smith • 0 Comments • Permalink

17 Apr 2011 20:29

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Politics: Timothy Geithner: Republicans will raise the debt ceiling (I hope)

  • I want to make it perfectly clear that Congress will raise the debt ceiling. They recognize it and they told the president that on Wednesday in the White House and I sat there with them and they said, ‘We recognize we have to do this and we’re not going to play around with it, because we know the risk would catastrophic.’
  • Treasury Secretary Timothy Geithner • Speaking with a hushed tone about the need to increase the debt ceiling, the kind of thing the GOP would possibly screw with the debt ceiling. The U.S. government has just $76 billion of breathing room right now, and need to pass an increase by July 8. Problem is, Republicans want a deal to go with this. “In addition to raising the debt limit we want financial controls, we want cuts in spending accompanying a raising of the debt ceiling.” said Paul “Fancypants” Ryan. “And that is what I believe they (Republican congressional leaders) told the president.” Oh God, they’re gonna screw this up. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Feb 2011 22:30

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Politics: Timothy Geithner on GOP’s spending diet plan: This will hurt jobs

  • In our judgment, the continuing opposition…in the House would undermine and damage our capacity to create jobs and expand the economy.
  • Treasury Secretary Timothy Geithner • Claiming that the GOP’s spending-cut-heavy plan threatens to severely hurt job creation. Geithner’s advice? Strengthen the economic recovery, then focus on deficit-cutting. “I am very confident that the Democrats and the Republicans will come together on a program to not just reduce spending but reduce long-term deficits,” he continued. source
Posted by Ernie Smith • 1 Comment • Permalink

20 Nov 2010 20:40

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Biz: Timothy Geithner to GOP: Don’t screw with us. You’ll regret it

  • It is very important to keep politics out of monetary policy. You want to be very careful not to take steps that hurt our credibility.
  • Treasury Secretary Timothy Geithner • Telling Republicans in no uncertain terms to stay out of the Federal Reserve’s BIZ-NASS. As we noted last night, Republicans are coming down hard on the money people pretty heavily, with some threatening to strip the Fed of some of its rights. May we offer a suggestion here? How about the legislators stick to legislating and the Treasury sticks to the money stuff? source
Posted by Ernie Smith • 2 Comments • Permalink

01 Oct 2010 00:10

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Biz, U.S.: TARP’s final cost could be way less than first advertised

  • $700 billion the amount TARP cost taxpayers when it first happened two years ago
  • $50
    billion     the most TARP will cost taxpayers when all is said and done source
  • » Says who?: The White House’s Treasury Secretary, Timothy Geithner, suggested that the final bill for TARP could be 7 percent of the original cost – or less, depending on how the markets go. But don’t expect anyone to gloat about this. TARP is political poison.
Posted by Ernie Smith • 1 Comment • Permalink
 

24 Aug 2010 10:15

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Culture: John Boehner throws down gauntlet on Obama’s economic peeps

  • President Obama should ask for – and accept – the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council.
  • House Minority Leader John Boehner • Throwing a grenade into the whole debate on Obama’s economic policies. Great. While Obama’s probably going to ignore this request, the fact tof the matter is that he’s not exactly on steady ground because his economic policies haven’t really turned the economy around as of yet. But his people blame Bush’s economic policies. Which, you know, is totally not a stretch of the imagination. source
Posted by Ernie Smith • 0 Comments • Permalink

08 Mar 2010 11:09

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Politics: Is Timothy Geithner getting the credit he deserves?

  • Barring something unexpected, the bailout will end up costing taxpayers less than the savings-and-loan implosion of the early nineteen-nineties. The government could conceivably end up making money.
  • New Yorker writer John Cassidy • Regarding Treasury Secretary Timothy Geithner’s much-maligned financial plan, which appears to be much less of a nightmare than it seemed a year ago. While many things are imperfect – the high unemployment rates and the bank’s seeming lack of desire to loan money to small business – it is looking like the government’s plan will likely put them in cash flow positive while helping to get the weakened economy out of its doldrums. Will Geithner get credit, though? source
Posted by Ernie Smith • 0 Comments • Permalink

07 Feb 2010 20:36

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Politics: Max Headroom: A bunch of financial guys hit the Sunday shows


  • “I Won’t Close the Door” Sarah Palin’s answer here sounded kinda vague, but read between the lines – it’s clear she’s been thinking about it. Come on. She’s already thinking like a presidential candidate. Whatevs.

  • The old financial dudes Today on “Meet the Press,” Henry Paulson and Alan Greenspan try to analyze the recession and the job market. Greenspan suggests tax cuts to drive economic activity that encourages job creation.

  • The new financial dude Timothy Geithner, Paulson’s replacement as treasury secretary, says we’re seeing some “encouraging,” though uneven, signs of growth in the economy. He says a double-dip is unlikely.
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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