Free Markets, Free People


The Transcendant Brilliance of Timothy Geithner

So much for I only knew about this last Tuesday”.   And this was the guy Democrats said we had to have beceause his brilliance was such that we should over-look his tax problems?

Treasury Secretary Timothy Geithner told CNN Thursday his department asked Sen. Chris Dodd to include a loophole in the stimulus bill that allowed bailed-out insurance giant American International Group to keep its bonuses.

In an interview with CNN’s Ali Velshi, Geithner said the Treasury Department was particularly concerned the government would face lawsuits if bonus contracts were breached.

Freakin’ amazing.

Geithner told Velshi Thursday he takes full responsibility for the situation.

After spending most of a week denying he even knew about it prior to last week. I don’t think Geithner understands what taking “full responsiblity” really means (or should mean).  Oh, and see Goodwin’s quote below.

~McQ

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7 Responses to The Transcendant Brilliance of Timothy Geithner

  • McQI don’t think Geithner understands what taking “full responsiblity” really means (or should mean).  

    Of course he does: it means the same thing that it did when “Tankgirl” Reno used it after incinerating those children in Waco.

    Yeah, it’s my fault, but don’t expect me to resign or be in any way punished for it.

    Come to think of it, the TOTUS told TAO to make similar comments just a couple of days ago… while also asserting (once again) that the mess was “inherited” and hence not really TAO’s fault.

    How many of us would like to have this definition of “responsibility” in our jobs, or for that matter in our daily lives?

    “Yes, boss: I totally screwed up and cost the company thousands of dollars.  I take full responsibility for it.  WHEW!  Glad I got that off my chest!  Back to work.  Oh, I’m still on-track for a raise and bonus this year, right?”

    “Yes, honey: I take full responsibility for overdrawing the checking account.  WHEW!  Glad I got that off my chest!  What’s for supper?  Oh, and I need the checkbook: gonna go buy some new golf clubs tomorrow afternoon.”

  • Hey McQ! Don’t be so hard on him….maybe he just needs a little help. You know, something like a Turbo Tax ‘dashboard’ where he can enter data and then simply look in one place to know that…..ahhhh….never mind.

  • Dear Mr. Geithner:

    Taking responsibility means that you RESIGN.

    So, take responsibility and resign. Do it. Now.

    Or else your “I am taking responsibility” is just a big a pile of crappola as the rest of The Clown’s™ maladministration is foisting on all of us.

    The Republicans should go to The Clown™ and tell him in simple words that even a simpleton like him can understand: Fire Geithner, NOW, or we will put a hold on every one of your judicial nominees from now until you leave office.

    Now THAT would get some results. But I don’t expect it from the weak-kneed GOP.

  • We are being duped. Do you know why?

  • Hey, it gets better.  Cap’n Ed at Hot Air did a little research and finds that the Tax Cheat in Chief is actually breaking the law regarding the bailouts by NOT holding Congressionally-mandated regular meetings of the oversight board.

    When Congress first created the TARP program, it insisted on oversight over the actions of the Treasury Secretary, rejecting the Bush proposal to allow Henry Paulson unlimited and unsupervised authority over $700 billion of taxpayer money. They created the Financial Stability Oversight Board (FINSOB), comprised of the Treasury Secretary, the Chairman of the Federal Reserve Board, the Chairman of the Securities and Exchange Commission, the Secretary of Housing and Urban Development, and the Director of the Federal Housing Finance Agency.  The law requires the board to meet on a monthly basis, but during the Bush administration it met at least every other week to review actions in relation to the bailouts.
    :
    :

    The listing of board minutes can be found on the Treasury’s website.  However, according to this list, the last FINSOB meeting took place on January 15th of this year — five days before Barack Obama’s inauguration.  The meeting was conducted via conference call.  It was the last meeting in which former Treasury Secretary Henry Paulson participated.
    According to this, current Treasury Secretary Tim Geithner has yet to participate in the oversight function Congress mandated by law.  Despite receiving hundreds of billions of dollars in additional TARP funds, it appears that the current administration has performed zero oversight over it.  Not only does that beg the question as to what Tim Geithner is actually doing as Treasury Secretary, it also makes it appear that Congress has no desire to protect the money it’s shoveling into the West Wing of the White House. [emphasis mine - dj505]

    Sort of contradicts the idea that Bush (snarl!) was conducting NO oversight with TAO will see to it that EVERY PENNY is carefully accounted for.  Quick!  Somebody call Sheriff Biden!

    / sarc

    How many more demonstrations of the utter incompetence and fecklessness of the Tax Cheat in Chief have we got to have before he gets the boot???

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