The Unz Review: An Alternative Media Selection
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
 BlogviewMichelle Malkin Archive
Tax Cheat Wonder Boy Geithner Is a Laughingstock
🔊 Listen RSS
Email This Page to Someone

 Remember My Information



=>

Bookmark Toggle AllToCAdd to LibraryRemove from Library • BShow CommentNext New CommentNext New ReplyRead More
ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
AgreeDisagreeThanksLOLTroll
These buttons register your public Agreement, Disagreement, Thanks, LOL, or Troll with the selected comment. They are ONLY available to recent, frequent commenters who have saved their Name+Email using the 'Remember My Information' checkbox, and may also ONLY be used three times during any eight hour period.
Ignore Commenter Follow Commenter
Search Text Case Sensitive  Exact Words  Include Comments
List of Bookmarks

What a joke.

Administration officials were greeted with sarcasm and laughter Monday night when they briefed lawmakers and congressional staff on Treasury Secretary Tim Geithner’s new financial-sector bailout project, according to people who were in the room.

The laughter was at its height when Obama officials explained that the White House planned to guarantee a wide swath of toxic assets — which they referred to as “legacy assets” — but wouldn’t be asking Congress for money. Rep. Brad Sherman (D-CA), a bailout opponent in the fall, asked the officials to give Congress the total dollar figure for which they were on the hook. The officials said that they couldn’t provide a number, a response met by chuckling that was bipartisan, but tilted toward the GOP side.

Snort.

Oh, and just a reminder about the 10 Republicans who voted for the tax cheat/wonder boy because he was so uniquely qualified — with iron-clad credibility — to do the job:

Corker (R-TN)

Cornyn (R-TX)

Crapo (R-ID)

Ensign (R-NV)

Graham (R-SC)

Gregg (R-NH)

Hatch (R-UT)

Shelby (R-AL)

Snowe (R-ME)

Voinovich (R-OH)

***

The stock market doesn’t think it’s funny:

Investors are frustrated with the government’s latest bank bailout plan — and showing it by unloading stocks.

The major stock indexes fell more than 4 percent Tuesday, including the Dow Jones industrial average, which tumbled 382 points. Financial stocks led the market lower, a sign of how concerned Wall Street is about the government’s ability to restore the health of the banking industry.

Traders and investors said the lack of specifics from Treasury Secretary Timothy Geithner on how the government will direct more than $1 trillion in public and private support was troubling.

The plan is aimed at restoring proper functioning to credit markets, which seized up over worries about bad debt after the September bankruptcy of Lehman Brothers Holdings Inc. The latest plan calls for a government-private sector partnership to help remove banks’ soured assets from their books. It would also boost an effort to unclog the credit markets that govern loans to consumers and businesses.

“The good news is they are going to spend a trillion dollars, the bad news is they don’t know how,” said James Cox, managing partner at Harris Financial Group.

(Republished from MichelleMalkin.com by permission of author or representative)
 
• Category: Ideology • Tags: Tim Geithner