You should see the discussions about Socialism and Communism. If something doesn't fit the defintion to a "T", then it's not valid. Insane... I'd expect the same about Keynesian Economics.
Keynes would have advocated for a massive government created jobs campaign during the last recession and now, not tax cuts.
Keynes would have advocated for a massive government created jobs campaign during the last recession and now, not tax cuts.
You — or your kids — will be assimilated: the "liberal" university prepares the totalitarian future.
DRUDGE REPORT 2011®
Not a story posted, but the headline on Drudge, complete with the famous flashing emergency light, is reporting that Tim Geithner is stepping down.
Good news, but Obama will just replace him with another wannabe.
Tax evading bastard, they ought make him suffer for his stupidity. Now he wants to skidaddle after helping to **** everything up.
Geithner is just another in a long line to leave - and frankly, isn't he one of the guys who caused this country's problems in the first place?
Eventually yes. However the list of 2 1/2 years of the Obama Administration is rather impressive for such a short period of time versus Obama's predecessor.
Burton
Klain
Glen Fine
Jim Jones
Summers
Romer
Robert Gates
Moran
Craig
Desire Rogers
Blair
Orzag
Mcrystal
Emmanuel
Lippert
Carter
Hoh
Anita Dunn
Sergant
Hathaway
Crawford
Rattner
Van Jones
Versus the Bush Admin from mid 2002
Novotny
Zahn
Oppegard
Hahn
Dombeck
Furmish
Parker
Lowarnce
Schaeffer
read the compete IG report of the AIG bailout and see how this was a backdoor method to make the vulnerable banks whole. using wage earner tax dollars to replace the lost equity of the wealthy, at home and abroad... by providing AIG with the capital to make these payments, Federal Reserve officials provided AIG’s counterparties with tens of billions of dollars they likely would have not otherwise received had AIG gone into bankruptcy. ...
he's either a crook, who perpetrated the largest transfer of wealth in history from the wage earner to the rich
or he is an absolute incompetent we should be delighted to see leave
or possibly both
read the compete IG report of the AIG bailout and see how this was a backdoor method to make the vulnerable banks whole. using wage earner tax dollars to replace the lost equity of the wealthy, at home and abroad
geithner privatized the profits and socialized the losses
http://graphics8.nytimes.com/packag...al-s-report-on-the-a-i-g-bailout/original.pdf
Geithner's risky oversight of Citigroup
By JEFF GERTH- PROPUBLICA | 1/14/09 12:39 PM EST
As president of the New York Federal Reserve Bank, Timothy Geithner often preached that gargantuan financial firms like Citigroup should be held to the highest regulatory standards to make sure they couldn’t take on too much risk.
But when it came to supervising Citigroup in recent years, the record shows that the New York Fed eased the reins as the company blew billions on subprime mortgages and other risky deals that ultimately forced the biggest bank rescue in U.S. history.
Now, the 47-year-old Geithner heads to the Senate in coming days as President-elect Barack Obama’s nominee for Treasury secretary. He’s won accolades for his expertise and work ethic, but there’s been little attention to his record as a Fed watchdog.
Geithner’s tenure at the New York Fed – which bore the major responsibility for supervising Citigroup – covers a tumultuous span in which the sprawling conglomerate spiraled from the country’s biggest banking company to one of its largest welfare cases.
Geithner's risky oversight of Citigroup - Jeff Gerth- ProPublica - POLITICO.com
he's either a crook, who perpetrated the largest transfer of wealth in history from the wage earner to the rich
or he is an absolute incompetent we should be delighted to see leave
or possibly both
read the compete IG report of the AIG bailout and see how this was a backdoor method to make the vulnerable banks whole. using wage earner tax dollars to replace the lost equity of the wealthy, at home and abroad
geithner privatized the profits and socialized the losses
http://graphics8.nytimes.com/packag...al-s-report-on-the-a-i-g-bailout/original.pdf
Here's a little background on Tiny Timmy.
Geithner snoozes from 2003 until after the melt down, while a big part of his job was to supervise and regulate the Secondary financial markets, Wall St and Citigroup in particular. Not only does he get a promotion to Treasury Secretary, but he got a $ half million dollar severance pay from a job he couldn't have botched worse???
The problem with the AIG bailout was how everyone in the world was connected through AIG. AIG's failure was not just a US problem, it was a global problem. Granted, this means the entire world should of ponied up the dough to stop it from failing and therefore stop the global recession, but whats the likely hood of that happening?
You do know that presidents of FED banks don't have very much power right? You do know they take orders from the board of governors in Washington right?
No, they should have ate their losses. That's how it works.
Awesome list. Tax cheat Tim never should have been confirmed. I think his departure will barely be noticed.It's a multifarious list too.
Burton - Left because his wife was expecting.
Klain - Left for a fat paycheck in the private sector
Glen Fine -Probably left because he'd already been there for like 15 years.
Jim Jones - Left because of a damning book by Bob Woodward.
Summers - Left because he came under fire for the stimulus
Gates - I don't really want to know why because the reason will scare the **** out of me.
Romer - Left because she came under fire for the stimulus.
Moran - Left to become COS for Commerce Secretary Gary Locke.
Craig - Left because of Guantanamo
Desire Rogers - Left because of the White House dinner-crashing scandal
Blair- Left because of the Christmas Day bombing attempt, because of leaks, and because Leon Panetta hated him.
Orzag - Left because he couldn't persuade people to take the deficit seriously
Mcrystal - Left because of a damning Rolling Stone article.
Emmanuel - Left (probably) because of Israel
Lippert - Left to rejoin the Navy
Carter - Left because of "personal reasons"
Hoh - Left because of disagreement on Afghanistan
Anita Dunn - Only took the job on an interim basis
Sergant - Left after Glenn Beck shat on him for allegedly overstepping his boundaries and creating propaganda art.
Hathaway - Left because of "personal reasons."
Crawford - Left to work for UMichigan law school.
Rattner - Left because of a pension scandal.
Van Jones - Left because Glenn Beck shat on him for signing a 9/11 conspiracy petition
So you would be ok with "the greatest depression" then? You think we don't have jobs now, just wait until the entire system built on credit collapses (the entire modern economic system dating back to at least 1750). That's what would have happened had the FED, the gov, and the banks themselves not stepped in.
He is the only one to blame?
He and Fanny Mae.
He and Fanny Mae.
this is the alternative those such as geithner insisted would happen if we did not replace the losses of the wealthy investor with taxpayer money
but i can't see that scenario as one which would have unfolded
and have never seen the apocalypse scenario described in any kind of detail
so, if you are able, please tell us exactly how and why the system would have collapsed had the bailout not been put in place
Stimulus spending under Obama was not carried out in Keynesian way.
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