C-Span is airing the Geithner nomination now.
Posted By: Backwards typist on 2009-01-26
In Reply to:
I am sure he is going to get the job. Some reps are not happy with his tax debaucle, but we cannot afford to drag this out for weeks to try and find someone who would be a better fit.
I'm not happy with this choice at all. Sure wish I would've known about his failure to pay taxes before he was nominated by O, then we could all use the excuse that we forgot to pay our taxes, too. I wonder how many people ARE going to use this excuse at tax time.
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Who do you think will get the Democratic nomination
And, what do you think the Super Delegates will do?
You better hope they don't give the nomination to
Billary. To quote you: GUFFAW, GUFFAW, GUFFAW.
Geithner, a man who likes to have
WE BETTER BE WATCHING HIM! He might take all the money. Very, very bad decision on Obama's part to pick him. I bet we all could do a better job than this guy.
***********
Treasury Secretary Timothy Geithner's signature reveals a very secretive man, said forensic handwriting specialist Ronald Rice. He needs to be monitored, as he can be manipulative, sneaky, and narrow-minded. But he does not reveal his hand. His signature suggests a man who likes to use information when necessary, with a watchful eye on others.
Geithner, a man who likes to have
No wonder, so he will not get caught. WE BETTER BE WATCHING HIM! He might take all the money. Very, very bad decision on Obama's part to pick him. I bet we all could do a better job than this guy.
***********
Treasury Secretary Timothy Geithner's signature reveals a very secretive man, said forensic handwriting specialist Ronald Rice. He needs to be monitored, as he can be manipulative, sneaky, and narrow-minded. But he does not reveal his hand. His signature suggests a man who likes to use information when necessary, with a watchful eye on others.
Harriet Miers withdraws nomination...
McCain just stopped talking to reporters when he got the nomination
But in the middle of the summer, the McCain campaign took a series of steps that appeared on their face to be at odds with the candidate’s gold-plated brand. In the interest of greater message discipline, his advisers eliminated his running back-of-the-bus (or front-of-the-plane) bullshit sessions with reporters. And they turned sharply negative in their approach to Obama, hammering him with a series of ads—seen by some as trivial and trivializing, by others as racially coded, and eventually by most as unexpectedly effective—focused on his status as a celebrity unqualified to be commander-in-chief.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=109x34923
Comments about Geithner for treasury post
Just wondering what everyone else thinks about this. The Senate has just passed him on through, so only one more stop before he's heading up the treasury department. Comments? Concerns?
Geithner plan will rob American taxpayers
Geithner plan will rob American taxpayers: Stiglitz
Tue Mar 24, 2009 4:12am EDT
By Susan Fenton and Deborah Kan
HONG KONG (Reuters) - The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on Tuesday.
"The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong.
U.S. Treasury Secretary Timothy Geithner's plan to wipe up to US$1 trillion in bad debt off banks' balance sheets, unveiled on Monday, offered "perverse incentives," Stiglitz said.
The U.S. government is basically using the taxpayer to guarantee against downside risk on the value of these assets, while giving the upside, or potential profits, to private investors, he said.
"Quite frankly, this amounts to robbery of the American people. I don't think it's going to work because I think there'll be a lot of anger about putting the losses so much on the shoulder of the American taxpayer."
Even if the plan clears banks of massive toxic debt, worries about the economic outlook mean banks could still be unwilling to make fresh loans, while the prospect of a higher tax burden to pay for various government stimulus plans could further undermine U.S. consumers, he said.
Some Republican lawmakers have also expressed concern over the incentives offered by the government, which could end up providing private investors with more than 90 percent of the funds to buy the troubled assets. But President Barack Obama has said the plan was critical to a U.S. economic recovery,
Stiglitz, a professor at New York's Columbia University and a former World Bank chief economist, also urged G20 leaders at their London summit next month to commit to providing greater resources to developing countries and said China should be given bigger voting rights in the International Monetary Fund.
"The voices of developing countries, and countries like China that will provide a lot of the money, are not heard."
China would be hard pushed to reach its targeted 8 percent economic growth this year, but the important thing was that at least the Chinese economy was still growing, he said.
Stiglitz welcomed China's proposal on Monday for an overhaul of the world monetary system in which Zhou Xiaochuan, governor of the People's Bank of China, said the IMF's Special Drawing Right has the potential to become a super-sovereign reserve currency.
Stiglitz has long called for the U.S. dollar to be replaced as the only reserve currency. Basing a reserve system on a single currency whose strength depends on confidence its own economy is not a good basis for a global system, he says.
"We may be at the beginning of a loss of confidence (in the U.S. dollar reserve system)," he said. "I think there is support for some sort of global reserve system."
Geithner assures Chinese audience that US dollar is sound.
http://www.reuters.com/article/marketsNews/idINPEK12423320090601?rpc=44
If you had an attention span, you'd know.
On C-Span, they just put on what McCain's
amendment would cost...$420B. It replaces the 600-some pages of the old bill but still includes tax cuts, entitlements, housing assistance, decreasing the tax rate from 35% to 25% so businesses can survive on their own, tax custs for us, and job creation. I still have not found it in writing. Maybe tomorrow.
Amendment 364 is McCain's amendment. They will be voting on it in a couple minutes....unless they get more objections and/or debates that, hopefully, they are all done.
Sen. Saxby Chambliss (R) Georgia. "Here we are once again raising the debt ceiling raise by almost a trillion dollars (the package now up for a vote). When is the spending going to stop?"
I'm watching C-SPAN.(nm)
.
Are you saying C-Span is garbage now?
I don't think so. It's not a news channel, it's the house and senate bull sessions themselves. Maybe you don't like it because it's real and factual. Is that it?
From what I've seen on C-Span
the dems aren't much better. Take Dodd, Pelosi, Frank, Reid, and my favorite (not!)-Schumer. They don't give a dang about the people, either. Otherwise, they would have listened when the people spoke during the bailouts and stimulus packages.
They would have tried to work with the pubs to pass legislation and be bipartisan. But no, they wanted it their way and their way only.
I watched Schumer make state that the people don't care about the pork in all the packages they passed. Where has he been?
I've watched Dodd lie. I've watched Pelosi think she's the president and to heck with everyone. She wants this and she will get it no matter what she has to do. I've watched Frank sputter and try to fight his way out of lies he was caught in.
I could go on and on, but I'm hopeful that people wise up and when their term for re-election comes up, I hope the people in their state take them down. They have caused most of the problems for this country.
I, for one, will no longer vote of Spector and I told him so. To change in the middle of his term does not sit well with me. He could have waited until it was time to campaign. I feel like he betrayed his constiuents who voted for him. The worse part of the whole deal is that he figured he could not get re-elected without changing parties. Well, he may have just sealed his own fate come re-election.
Short attention span?
Short memory span?
Is there a reason why you repeat yourself over and over and over and over and over and over again? Rehashing the same ridiculous complaints over and over and over and over and over and over again?
Why don't you post the butt in a chair thing a few more times? You guys have called us more or less drugged out hippies with references to what we must be smoking, what we must have been doing in the 60s and our hookahs. You ain't exactly perfect. Now if I post this paragraph about ten more times you might get the idea, right?
What I learned today on C-span
(I hope the spacing comes out okay, apologies if not). From C-span here are a couple comments. One by a republican and one by a democrat. It’s good to know that there are people (democrats & republicans alike) who realize this is a bad deal and are looking out for our best interest and not their own.
Rep. Michael Burgess – R. Texas 26th district
Speaker, I come to the floor today to talk about this 700 billion dollar bill that is in front of us. I use the term bill advisedly because we have seen no bill. We are here debating talking points on perhaps one of the largest fundamental change in our nation’s financial system in its history. And house republicans have been cut out of the process. Not only have we been cut out of the process, we have also been derided by the leadership of the democratic party and called unpatriotic for not participating. Mr. Speaker I have been thrown out of more meetings in this capital in the past 24 hours than I ever thought possible as a duly elected representative of 820,000 citizens of North Texas. Mr. Speaker, politics is a full contact sport and I understand that, but it is a full contact sport in the light of day in the public arena. Since we didn’t have hearings, since we didn’t have markups, lets at least put this legislation up on the internet for 24 hours. That’s what Thomas was made for. Lets do that and let the American people see what we have done in the dark of night. After all, I have not gotten any more mail, any more emails on any other subject other than this one that is before us today. Mr. Speaker I understand we are under martial law as declared by the speaker last night. I think its ironic house republicans have not been needed for a single thing in this house to assure passage for the last 22 months. And today we are going to be asked to vote for a bill for political cover because democrats are too weak to stand up to their speaker. I yield back.
Rep. Marcy Kaptur – D. Ohio 9th District
Mr. Speaker, my message to the American people, don’t let congress seal this wall street deal. High financial crimes have been committed. Now congress is being asked to bail out the culprits and to do so at the expense of those who elected us to guard their interest the people of our country. The normal legislative process that should accompany review of a monumental proposal to bail out wall street has been shelved, yes shelved. Only a few insiders are doing the dealing. Sounds like insider trading to me. These criminals have so much political power they can shut down the normal legislative process of the highest law making body in this land. All the committees that should be scanning every word of what is being negotiated are benched, and that means the American people are benched too. We are constitutionally sworn to protect and defend this republic against ALL enemies foreign and domestic, and my friends there are enemies. We are told we will have a trillion dollar bill to review soon and have less than 24 hours with no regular hearings to try to vote on this tar baby. The people pushing this deal are the very same ones who are responsible for the implosion on wall street. They were fraudulent then and they are fraudelent now. We should say no to this deal. I ask my colleagues to join us at 2:00 at HC8 of the capital to meet with some real experts who have done financial resolutions without putting financial burdeon on the taxpayer. Please join us HC8 at 2 p.m.
94 democrats voted against this bill today. That is more than half the democrats, yet they get in front of the camera and give their little speeches about how all democrats are for this and its all the republicans fault this didn’t pass. Hello folks, do the math.
Pelosi has shown how truly inexperienced, divisive and uncaring she. She gets up there and her mouth just flaps with nothing of substance being said. She is incompetent and should be fired. All that came out of her flapping gums today was more bashing of the republicans and accusing them of what democrats have been doing for over 2 years now. Why in the world would you give a speech putting all the blame on people and bash the other political side before a vote is even held. Chalk it up to one more of the numerous reasons she is incompetent and needs to step down. And if she doesn’t step down she should be physically removed. Even the Deputy Minority Whip held up a copy of Pelosi’s floor speech at a press conference and said she had “failed to listen and lead” on the issue.
Then I heard Barney Frank talk. He should be renamed Barney Baloney. He stands and mocks the people who voted against the bill making fun of them. As someone said he may be a funny and clever guy, but there is nothing funny about this situation.
Did anyone even notice today that every time Pelosi and Franks spoke the market dived. When they stopped talking the market started going up. They’d get in front of the camera again and the market started tanking again big time. This happened about 3 or 4 times (I was watching it on a split screen). At that point you would have thought the President would have called over and told them to shut up because they were tanking the market.
Kucinich (democrat) said the ones who caused this are the one who are giving us a line (Pelosi, Franks, Kerry, Dodd).
Truth is this $700B is not enough. This is a small part of what is needed. Many people are saying it's more like close to a trillion. After this they’ll say well we need this much more, then that much more, and before we know it we’re going to be paying more than just $10,500.
There are economists and educated people who are asking for a decent bill. But do they consult them. They are the ones with the knowledge and ideas to get us out of the mess. No who do they get – Pelosi, Franks, Dodd, etc – the people who did this in the first place).
All I can see is both candidates are more interested in getting themselves elected than what is happening with the economy so don’t even try to say one is worse than the other. I cannot say what Obama is saying because I’m not hearing anything from him except that he keeps saying it needs to be fixed, but I’m not hearing his specific viewpoints on the bill itself (and I'm not hearing McCain's specifics either). Specifics would be good if I'm suppose to vote for one or the other in November.
Auto Bailout is on C-Span. If you
want to watch it tonight, it will be on at 8 p.m. In the meantime, the plans of GM and Ford are online.
I feel sorry for the Chryler guy. He seems to be the most honest and wants the least amount of money. Sen. Corker - TN told him right out he doubts Chrysler is going to make it even with the money and they should just be bought out by someone and leave the company go.
He was also tough on the UAW Gettlefinger (or whatever his name is). I don't blame him there. The guy was squirming but he kept talking about all the concessions hurting the workers; i.e., not willing to make concessions.
Hope the link works.
Right now on C-Span, they are holding hearings
for the auto bailout. It's just starting.
C-Span had a rerun of the senate yesterday on AIG
According to Schumer and Klobuchar, they are sending a letter to AIG Liddy (sp) to tell them to renegotiate the bonuses or give the bonus money back, or else they will draft a LAW and take immediate steps to impose a tax as high as 91% on these bonuses.
I don't know how they can do that, although I would like to see it happen. But if they can break the contracts for AIG, then they can break any contract at will. That's a bit scary.
Short attention span explains alliance with Bush.
Now it's all starting to make sense. See article. Don't bother to read article. Form knee-jerk negative opinion based on prejudice against liberals rather than facts. Refuse to read/accepts facts (too time consuming). Ignore all gray areas in life; deal in only black and white. Vote for Bush. When things get worse, vote for him again because neocons are never wrong.
Yes - a bean-counter will decide that the cost-benefit ratio over the expected remaining life span..
...isn't worth it, and you'll be denied that hip replacement or whatever. So much less expensive to prop you up in a wheelchair and shove you in a corner. They'll poke you tomorrow morning to see if you're dead yet.
And, folks, I'm not kidding.
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