Geithner Wins Confirmation

[Faygo Kid]

Source: New York Times

WASHINGTON — Timothy F. Geithner was sworn in as secretary of the Treasury on Monday evening, confirmed by a Senate majority that concluded that his experience in government and finance outweighed concerns about recent disclosures of some $34,000 in past tax delinquencies.

The vote was 60 to 34.

The tax controversy had delayed Mr. Geithner’s confirmation, keeping him from taking office right after Barack Obama’s inauguration last Tuesday as administration officials had hoped, given the economic emergency.

In a desultory two-hour Senate debate on Monday, opponents cited the tax issue to explain their votes against Mr. Geithner’s leading the Treasury, which oversees the Internal Revenue Service. A couple of populist senators objected as well to the leading role he played, as president of the Federal Reserve Bank of New York, in government bailouts of financial institutions over the last few months. As early as next week, the new secretary will announce changes for the bailout program that are expected to press banks to make more loans and reduce housing foreclosures. . .

Read more: http://www.nytimes.com/2009/01/27/us/politics/27geithner.html?hp

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Basically a party line vote. Let's hope he does a great job. We all need it.

[terisan]

1. Sanders, Byrd, Harkin, Feingold voted against him-he is a tax cheat and will work against the people

I am over hope. Politicians are tap dancing to the bankers' tunes because they do not fear the wrath of the people.

On May 15th Congressional financial statements are due---how many Dems do you think lost significant money or net worth in 2008?

[question everything]

4. Does this mean he got six Republicans to vote for him?

Any idea who?

[terisan]

6. Don't know which Republicans voted for him. nt

[soccermomforobama]

9. Here are the Republicans that voted for him

Corker (R-TN)
Cornyn (R-TX)
Crapo (R-ID)
Graham (R-SC)
Gregg (R-NH)
Shelby (R-AL)
Snowe (R-ME)

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=1&vote=00015

[closeupready]

8. You hit the nail on the head. Congress members fear losing their own shareholder value in banks

if they nationalize the banking system more than they fear not being able to wrangle another term out of their angry constituents using the power of incumbency.

[pjt7]

2. This guy is a crook

& smack in the middle of the global banking fraternity that have caused the world's economic woe's.

"Real Change" just got bought out.

[Imalittleteapot]

3. I have never liked this nomination.

I never will. I don't understand it. I can only hope that Obama has something positive about it up his sleeve.

[Ken Burch]

10. Maybe Obama could use the threat of prosecution to get this guy to do "New Deal" kinds of things.

If it takes Machievellianism, well, hell, why not?

[DesertFlower]

5. i guess we really need him.

if the economy were not in this bad shape, he never would have been confirmed.

[w4rma]

7. The problem is that this Rubinite will do all the wrong things. (nt)