Geithner Says He Will Stay At Treasury

[Purveyor]

Source: ASSOCIATED PRESS

(08-07) 11:33 PDT WASHINGTON (AP) --

Timothy Geithner has told President Barack Obama that he will remain on the job as Treasury secretary.

The Treasury Department released a statement Sunday saying Geithner had informed the president of his decision to remain in the administration. Geithner is the only remaining top official on Obama's original economics team.



Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/08/07/national/w113313D17.DTL

[vi5]

1. Oh joy. N/T.

[roguevalley]

36. we're doomed.

[BackToThe60s]

43. This is very Depressing

Pun intended.

[KamaAina]

2. The one guy who SHOULD have left

I guess there weren't any greeter positions open in Vegas or Atlantic City. :eyes:

[No Elephants]

37. No, they all should have left. Summers, Goolsbee, Geithner. All lovers of DLC/Republican economic

policies.

[msongs]

3. he hasn't finished the total destruction of our economic system yet...4 more years lol nt

[GSLevel9]

5. +1000 nt

[DJ13]

4. What a fool, now he'll have to continue paying his taxes

:hide:

[russspeakeasy]

6. Shit !

[Liberal Veteran]

7. Edward Smith Says He Will Stay At White Star Lines.

[Iliyah]

8. The Huckster wants Prez O

to nominate the Donald - LOL

[customerserviceguy]

9. Heckuva job, Timmy! n/t

[wizstars]

10. DAMN!!! Can't we EVER catch a break??

[on point]

11. He should be asked to leave as should the rest of the Wall street Chicago School of fools

[Eatacig]

12. Be careful what you wish for

:o Be careful what you wish for People.Geitner may not be the best choice but with this Congress, Obama would never get a good nominee in. Better leave things as they are.

[No Elephants]

38. Oh, please.

Welcome to DU anyway.

[Jefferson23]

13. Well finally, some good news.

:sarcasm:



Stiglitz Says Ties to Wall Street Doom Bank Rescue (Update1)
By Michael McKee and Matthew Benjamin - April 17, 2009 12:11 EDT

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=afYsmJyngAXQ&refer=home


Incentives and the Performance of America’s Financial Sector
House Committee on Financial Services
Hearing on Compensation in the Financial Industry
Testimony by Joseph E. Stiglitz1
January 22, 2010

http://www2.gsb.columbia.edu/faculty/jstiglitz/download/Stiglitz_Incentives_Jan10.pdf



Is Dodd-Frank Overdue or Overkill? 2 Dueling Views

Will the Dodd-Frank financial regulatory overhaul thwart a future crisis?

That depends on who you ask.

“While the Dodd-Frank bill improved matters, it went nowhere far enough: the problems continue, and as long as they continue, our economy is at risk,” Joseph E. Stiglitz, the Nobel Prize-winning economist, told the Senate Banking Committee on Wednesday.

Conversely, a former top financial regulator testifying at the Senate hearing cautioned that the law bordered on overkill. Eugene A. Ludwig, the former comptroller of the currency during the Clinton administration, praised portions of the Dodd-Frank Act while warning that it could put “a deleterious drag on capital formation and meaningful job opportunities for our people.”

“Like any strong medicine,” he said, “if applied incorrectly or excessively, the Dodd‐Frank Act can produce more harm than good.”

The debate at the hearing reflected larger partisan wrangling over the law, enacted in response to the financial crisis.

Democrats largely back Dodd-Frank, saying Wall Street was long overdue for a crackdown. Republicans counter that the law will crimp the banking industry’s profit-making engines at a fragile time for the American economy. Conservative lawmakers in the House of Representatives have introduced some two-dozen measures to kill or roll back the law.

http://dealbook.nytimes.com/2011/08/03/is-dodd-frank-overdue-or-overkill-2-dueling-views/

[No Elephants]

39. Did you catch the recent Daily Show "report" on Dodd Frank?

Sumultaneously very funny and very painful. And all too accurate.

[Jefferson23]

46. No I did not, I'll try and find it on his website, thanks. I imagine Stewart

had a field day with it.

[Iggo]

14. Who's the boss again?

[QC]

15. O happy day!

[lib2DaBone]

16. OF COURSE he will stay... he's made millions on the backs of the working poor...

..Why would he leave?

[Playinghardball]

17. Geithner will not step down from Treasury post

Source: MSN

WASHINGTON — U.S. Treasury Secretary Timothy Geithner has told President Barack Obama that he intends to stay on the job, Treasury said in a statement on Sunday afternoon.

"Secretary Geithner has let the president know that he plans to stay on in his position at Treasury," Assistant Treasury Secretary Jenni LeCompte said. "He looks forward to the important work ahead on the challenges facing our great country."

Geithner had indicated he might leave after a debt-limit increase was approved, but administration officials indicated that both Obama and the White House chief of staff had urged Geithner not to leave now.



Read more: http://www.msnbc.msn.com/id/44051614/ns/business-stocks_and_economy/?gt1=43001

[RUMMYisFROSTED]

18. "Don't leave Tim!"

/gnashingofteeth

[midnight]

19. Really?

[MannyGoldstein]

20. What, Goldman Sachs can't spare anyone for the post just now? nt

[alsame]

21. 'Government Sachs' - not just for Republicans anymore. nt

[JDPriestly]

22. Geithner is a huge liability for the president.

His policies are dividing Americans, and his personality is about minus 100 degrees Farenheit.

Just a loser all the way around. In my opinion he is a pimp for Wall Street (and Pete Peterson who headed the committee who appointed him) and the Chinese oligarchy.

[humbled_opinion]

23. WOW...

So where does the buck stop now?

Doesn't this leave Obama open for attacks of not holding anyone accountable for the Downgrade?...

[No Elephants]

42. Someone has a buck?

[humbled_opinion]

47. Yeah maybe we should put that person in charge... LOL n/t

[LuvNewcastle]

24. Let's give Bernanke a raise while we're at it.

[randr]

25. Makes one wonder who is in charge.

[hay rick]

26. Toxic Timmy.

Looking for a single poster to say that this is a good thing- but not holding my breath. Seems that even the pom pom crew can't unpinch their noses long enough to give Timmy an attaboy.

[No Elephants]

40. You may have missed a post or two.

[blkmusclmachine]

27. More "Change" you CAN'T believe in...

It's like watching an episode of Gangsters or Sopranos.

[marasinghe]

48. i'd say - that funny old Jimmy Breslin novel and movie:

"The Gang That Couldn't Shoot Straight".

[Iggo]

28. Who's the boss?

[MsPithy]

29. Well, that settles it. Obama will loose in 2012.

When what we need is Franklin Roosevelt, we will only be getting more and more Herbert Hoover.

[Safetykitten]

30. The economy's rotted corpse lifts it's hand...stay Timmeh...stay a while longer...

[peacetalksforall]

31. I can't bare looking or listening to the criminal. Too bad for the country that he is staying. Too

bad for Obama, also.

[KoKo]

32. He and Obama are connected through the Ford Foundation...it's a Tie that Binds...most

Constrictively.. :-(

[NorthCarolina]

33. There's a shocking revelation...not. nt

[Octafish]

34. Lucky Us!

Something else a socialist told me: Geithner stonewalls in AIG bailout hearings

I know. No one remembers or gives a fig about AIG.

I know. The rich can't take suffering like the poor.

The poor are used to it, so we must at all costs protect the rich.

By Jove, I'm thinking I've got it.

[SoapBox]

35. phwwwwwtttttt!

...not a fan.

[No Elephants]

41. Talk about Kabuki. Geithner says publicly he may leave. Obama says publicly he doesn't want him to

go. Geithner later publicly says he'll stay.

If any of that were real, it would have played out in a very private conversation between Geithner and Obama and none of us would ever have heard about it.

Meanwhile, the joke's on them. No one gives a Satan Sandwich if Geithner stays or leaves, despite the silly and inexplicable attempts to manufacture cliff hanger.

[bemildred]

44. +1.

"Please will someone notice me?"

[gkhouston]

45. For the love of God, WHY? A magic 8-ball would do better. n/t

[Fool Count]

49. Now, that should be investigated as a possible reason for

world-wide stocks sell-off.

[unkachuck]

50. "...he will remain on the job as Treasury secretary."

....good personal decision, timmy....the job market is brutal out here, lines at the unemployment office are a mile long....if you've got that Treasury job, hold on to it....

....however, you may want to consider asking the Prez for a transfer to another job at Treasury, a job less taxing, like custodian, maintenance or maybe even security....

....you know we're all pulling for you timmy, but not as Treasury Secretary....