Although Geithner repeatedly raised concerns about the failure of banks to understand their risks, including those taken through derivatives, he and the Federal Reserve system did not act with enough force to blunt the troubles that ensued. That was largely because he and other regulators relied too much on assurances from senior banking executives that their firms were safe and sound, according to interviews and a review of documents by The Washington Post and the nonprofit journalism organization ProPublica.
He doesn't know what it means to protect the interests of the taxpayers.
Don't we need a "compassionate" alternative that allows us to "transfer" overpriced jobs by overqualified U.S. domestic labor...to highly disadvantaged lower priced "emerging" zones, as defined by the IMF...to keep the U.S. competitive? (I am appalled that anyone would even think to complain about this global Equal Opportunity policy. I'm simply outraged that outsourcing has even come into question. Slave labor...good. Unions...Bad!;-)
Geithner is a theoretician and ultimately belongs in academia or in the backroom of a policy draft center. He's more analyst than leader. So, his days are numbered.
Democrat, Republican, progressive, moderate, conservative, they've lost all meaning. The only thing that matters to me is being humanitarian and Bernie Sanders personifies that.
To me they are either complete corrupt, bought, controlled puppets for special interests, like how Bill Gates owns all of the politicians in D.C.....or they are not (which are unfortunately always in the minority and cannot grab power).
But the GOP vs. Dem argument, I personally think that's quite false since when one gets away from the Corporate corrupt I see more similarities than differences and the Progressives and the conservatives often come together...
Seriously it's true, check out Bernie Sanders, my favorite Senator and he has crafted legislation with all sorts of the political spectrum.....he's pretty good at getting some common sense amendment through and can cut through the "parties" on things that plain make sense as well.
What a surprise. Gee wiz, wouldn't you love $2.7 million dollars for spewing out what corporations want to hear, especially when later while they are clearly insolvent, they get pumped up with taxpayer billions?
I've long corrected people who proclaim Murray and Cantwell (especially Cantwell) as being dems, they are routinely Bush-dog faux dems, at best.
Sure, Cantwell will vote for a pro-labor bill -- after checking the pre-count vote and assuring herself it will NEVER pass.
It is not the voting record of these faux dems which count, it is their voting records on those bill which pass that is the true voting record -- or the correct negative vote to stop the anti-worker, anti-labor legistation from being enacted.
Unfortunately, during the 2006 primary, when an authentic democrat (Ms. Hong Tran) was running, Cantwell received an ignoramus-led 96% of the vote.
Unbelievable, when we have an educated electorate, which of course, we do not!
I don't think that's true and if he voted this way I would suspect something else going on. Tester is more of a Populist and last I recall he was for H.R. 676 or something like that, so I'd go digging a little deeper on this vote and what was really in there.
You sure got the Senators from Washington right.
They are 100% Bill Gates personal representatives.
Bayh, I'm unsure about but I especially like the way you are labeling them as representing particular corporations.
I guess Chris Dodd represents the state of AIG, Citigroup, BoA too...
It would be nice to list all of Congress based on which corporation they represent.
I know Zoe Lofgren - Cisco, Intel as well as all immigration attorneys everywhere who make a killing off of people (it's huge business to process Visas and so on).
During the Clinton Administration, "discouraged workers" — those who had given
up looking for a job because there were no jobs to be had — were redefined so as
to be counted only if they had been "discouraged" for less than a year. This time qualification defined away the bulk of the discouraged workers. Adding them back into the total unemployed, unemployment in line with common experience, as estimated by the SGS-Alternate Unemployment Measure, rose to about 19.8% in March, from 19.1% in February.
The "SGS" he refers to is "Shadow Government Statistics" which is a subscriber service.
If possible. Nice catch midtowng. I thought those headlines look doctored to make it all appear "not as bad" as it is.
Other folks, it's getting kind of cool some of our government agencies are now bloggin' fools so over in the bottom right I've pulled in some of their news feeds...
One organization which can release really damning reports that the press promptly ignores is the GAO.
For example, over and over the GAO has said the H-1B visa program is used to labor arbitrage and also has massive fraud involved...
Yet today Obama is wanting to not change anything claiming this helps the U.S. be "competitive".
About the "make loans" part- unless interest rates are capped at CPI+1% and total debt payment load is capped at 32% of income, I'm not sure more loans are doing the middle class any good at all.
What we need is also to have an alternative bank for day-to-day electronic transactions: No loans, just a monthly fee and a paperless bank that accepts electronic deposits and withdrawals for standardized cash flow.
Let some other institution play the savings-and-loan gambling games- give me a bank that helps me manage cash flow for a small fee.
-------------------------------------
Moral hazards would not exist in a system designed to eliminate fraud.
Geithner is at the very least (or most depending on how you look at it) a puppetfor the financial oligarchy.
I like this part:
He doesn't know what it means to protect the interests of the taxpayers.
Don't we need a "compassionate" alternative that allows us to "transfer" overpriced jobs by overqualified U.S. domestic labor...to highly disadvantaged lower priced "emerging" zones, as defined by the IMF...to keep the U.S. competitive? (I am appalled that anyone would even think to complain about this global Equal Opportunity policy. I'm simply outraged that outsourcing has even come into question. Slave labor...good. Unions...Bad!;-)
Then he flunked 101. I'm sorry but the real theoreticians are the ones analyzing this plan to be the ultimate taxpayer ripoff.
Check it out...no estate tax applicable for estates over $10 mil. for year 2010. (Sounds like a nice recipe for Chile or Argentinia;-)
As Ed McMahon would say, "Indeed, sir...You Are Correct!"
Geithner is a theoretician and ultimately belongs in academia or in the backroom of a policy draft center. He's more analyst than leader. So, his days are numbered.
http://www.businessweek.com/bwdaily/dnflash/content/mar2009/db20090329_7...
The unemployment numbers does not consider part time and underemployed freelancers.
Democrat, Republican, progressive, moderate, conservative, they've lost all meaning. The only thing that matters to me is being humanitarian and Bernie Sanders personifies that.
I call it the mit abortion o without choice...
To me they are either complete corrupt, bought, controlled puppets for special interests, like how Bill Gates owns all of the politicians in D.C.....or they are not (which are unfortunately always in the minority and cannot grab power).
But the GOP vs. Dem argument, I personally think that's quite false since when one gets away from the Corporate corrupt I see more similarities than differences and the Progressives and the conservatives often come together...
Seriously it's true, check out Bernie Sanders, my favorite Senator and he has crafted legislation with all sorts of the political spectrum.....he's pretty good at getting some common sense amendment through and can cut through the "parties" on things that plain make sense as well.
What a surprise. Gee wiz, wouldn't you love $2.7 million dollars for spewing out what corporations want to hear, especially when later while they are clearly insolvent, they get pumped up with taxpayer billions?
Bloomberg on Summer's fees.
I've long corrected people who proclaim Murray and Cantwell (especially Cantwell) as being dems, they are routinely Bush-dog faux dems, at best.
Sure, Cantwell will vote for a pro-labor bill -- after checking the pre-count vote and assuring herself it will NEVER pass.
It is not the voting record of these faux dems which count, it is their voting records on those bill which pass that is the true voting record -- or the correct negative vote to stop the anti-worker, anti-labor legistation from being enacted.
Unfortunately, during the 2006 primary, when an authentic democrat (Ms. Hong Tran) was running, Cantwell received an ignoramus-led 96% of the vote.
Unbelievable, when we have an educated electorate, which of course, we do not!
I don't think that's true and if he voted this way I would suspect something else going on. Tester is more of a Populist and last I recall he was for H.R. 676 or something like that, so I'd go digging a little deeper on this vote and what was really in there.
You sure got the Senators from Washington right.
They are 100% Bill Gates personal representatives.
Bayh, I'm unsure about but I especially like the way you are labeling them as representing particular corporations.
I guess Chris Dodd represents the state of AIG, Citigroup, BoA too...
It would be nice to list all of Congress based on which corporation they represent.
I know Zoe Lofgren - Cisco, Intel as well as all immigration attorneys everywhere who make a killing off of people (it's huge business to process Visas and so on).
Blog posts need to be with more "meat". They need to be referenced, complete with links, graphs, statistics and they need to be in depth.
This is more of a comment or an Instapopulist.
Anyone else?
Robert Oak has convinced that Fannie/Freddie are allowed to exist only to support the massive bond holding of China and PIMCO.
China has huge holdings and so does PIMCO (possible up to $82 billion).
This tells me that we truly don't control Fannie/Freddie.
I picked this up at Zero Hedge this morning.
The "SGS" he refers to is "Shadow Government Statistics" which is a subscriber service.
From Economic Data blog (via The big picture).
is a disaster. While obviously they should be nationalizing both Citigroup and BoA immediately, we have this going on instead.
Currently I see them nationalizing only because it dawns on them that say $10 trillion dollars being feed to the banks isn't working out so good.
I mean seriously, whoever coined the term Zombie for banks deserves the analogy of the year award or something..
If possible. Nice catch midtowng. I thought those headlines look doctored to make it all appear "not as bad" as it is.
Other folks, it's getting kind of cool some of our government agencies are now bloggin' fools so over in the bottom right I've pulled in some of their news feeds...
One organization which can release really damning reports that the press promptly ignores is the GAO.
For example, over and over the GAO has said the H-1B visa program is used to labor arbitrage and also has massive fraud involved...
Yet today Obama is wanting to not change anything claiming this helps the U.S. be "competitive".
In other words, politicians also ignore the GAO.
About the "make loans" part- unless interest rates are capped at CPI+1% and total debt payment load is capped at 32% of income, I'm not sure more loans are doing the middle class any good at all.
What we need is also to have an alternative bank for day-to-day electronic transactions: No loans, just a monthly fee and a paperless bank that accepts electronic deposits and withdrawals for standardized cash flow.
Let some other institution play the savings-and-loan gambling games- give me a bank that helps me manage cash flow for a small fee.
-------------------------------------
Moral hazards would not exist in a system designed to eliminate fraud.
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