Geithner has reservations on US bank limits

[Frank Booth]

Source: Reuters

WASHINGTON/NEW YORK, Jan 21 (Reuters) - President Barack Obama's newest Wall Street crackdown was met with hesitation from Treasury Secretary Timothy Geithner, who is concerned that politics could be sacrificing good economic policy, according to financial industry sources.

Geithner is concerned that the proposed limits on big banks' trading and size could impact U.S. firms' global competitiveness, the sources said, speaking anonymously because Geithner has not spoken publicly about his reservations.

He also has concerns that the limits do not necessarily get at the heart of the problems and excesses that fueled the recent financial meltdown, the sources said.

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The proposals were largely driven by Volcker, a former Federal Reserve chairman who has repeatedly advocated putting curbs on big financial firms to limit their ability to do harm.

Read more: http://www.reuters.com/article/idUSN2123718120100121

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This is fundamentally Paul Volcker's plan, so I'm not surprised that Larry Summers and his lackey and mouthpiece Tim Geithner don't like it.

[cliffordu]

1. past time for Geithner to go bye bye.

[Grand Taurean]

2. This is the time for Obama to put up or SHUT UP!

Either Obama keeps Geithner's mouth shut or Obama fires Geithner.
Timmy Geithner is the toolboy of Wall Street.

[Nihil]

29. My, you are the optimist aren't you?

> Either Obama keeps Geithner's mouth shut or Obama fires Geithner.

You forgot the most likely outcome: Obama does SFA except issue a
carefully-crafted and content-free statement that could be spun as
either a "slam" or an "apology".

[Orrex]

3. Geithner can go fuck himself in whatever method he finds most economically sound.

[Jennicut]

4. Its Volcker vs Geithner. Who does Obama choose?

If he is intelligent, he will chose the side that may save his Presidency.

[Po_d Mainiac]

11. If size matters, POTUS will make the proper choice

[Po_d Mainiac]

12. I wanna see Liz Warren vs lizzard summers in the feature bout...n/t

[still_one]

5. That is the same argument they said when they repealed Glass-Stegal

They said banks would not be competitive enough

bullshit

No institution should be too big to fail

[gateley]

6. I was hopeful Obama's appearance with Volcker meant that he was easing out

Geithner. And even after that, Geithner has the balls to disagree with the approach Obama wants to take.

[jgraz]

7. Fuck off, Timmeh.

Sooo sick of this asscarrot.

[shawcomm]

8. The Boogeyman!

"could impact U.S. firms' global competitiveness"

[Smashcut]

9. FIRE THIS SHILL

It's not too late, Mr. Pres...

[flyarm]

10. more secret /behind doors meetings by Geithner...

why can't we get any of the dang transparency we were promised?????????



http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x143767

"More than 40 chief executives of the largest financial institutions were scheduled to hear from Mr. Geithner on Tuesday at a closed-door forum of the Financial Services Roundtable."

[w4rma]

22. He needs to be gone. (nt)

[lamp_shade]

13. "financial industry sources" - Hah!

[Demeter]

14. Reservations in Sing-Sing, Perhaps?

Table for two--Summers and Geithner!

[Liberal Veteran]

15. Oh really? Who would have guessed? n/t

[santamargarita]

16. When will President Obama get rid of this asshole?

What a shitty fucking week!

[bluedigger]

17. I'll bet he does.

Tool.

[KoKo]

18. Amazing that a Presidential Apointee would go against his OWN PRESIDENT..!

So...who is really "running and funding" Geithner that he would breach protocol on how those who "serve the President by Apointment" don't "tell tales outside the office?"

:eyes: He's really an incredible Prick to be doing this.....

[valerief]

19. WHY DOES THIS GUY STILL GET TO BREATHE??? nt

[neverforget]

20. Go away Geithner and take that asshole Summers with you.

[w4rma]

21. Of course that SoB does. FIRE HIM. (nt)

[Sancho]

23. Pardon my French...

F*&% Geithner!

:argh:

[SleeplessinSoCal]

24. Geithner aired no reservations about the proposal on Newshour tonight.

[TacticalPeek]

25. Fuck Geithner.

Fuck Summers, too.

[western mass]

26. Everything thing we need to know about Obama

is summed up in the fact that this crook Geithner still has a job.

[No Elephants]

27. What in hell have Democrats come to? We are rooting for one Rethug over another?

[mbperrin]

28. Good enough for me! If Timmeh doesn't like it, I do!

Period.

[SOS]

30. Time for a cabinet shake up

Write off the first year and start fresh with a new economic team.
History might view the first year as poor start, followed by three years of real change.

If Obama stays with the Wall Street lackeys for the full four years he's toast.

[barb162]

31. Geithner is an asshole and needs to be fired. Period!

[DebbieCDC]

32. Get rid of that douche Geithner and Summers too

It's a small start