Geithner grilled on outsourcing, bank solvency, etc. etc.

[blue97keet]

eithner Testimony Wrap-Up

By: Jane Hamsher Tuesday February 10, 2009 5:00 pm

Geithner's testimony before the Banking, Housing & Urban Affairs Committee went on for 3 1/2 hours and was remarkably substance free.

Notable moments:

When Bunning asked whether our largest banks were insolvent, Geithner said he couldn't say anything about individual companies because of national economic security. When Bunning asked what he thought the ultimate pricetag would be, he punted.

Sherrod Brown wanted to know what would be done to keep jobs from being outsourced by companies receiving public funds. Geithner said that they didn't want to micromanage banks or impose restrictions that would cost them money. So -- nothing.

http://firedoglake.com/2009/02/10/geithner-testimony-wrap-up/

[Donnachaidh]

1. is that the new buzzphrase?

"National Economic Security"

So tell me, where EXACTLY is the TRANSPARENCY with phrases like this?

[Joe Chi Minh]

3. Bit late for them to be claiming that as a significant consideration, isn't it?

[OhioChick]

2. WTF?

"Sherrod Brown wanted to know what would be done to keep jobs from being outsourced by companies receiving public funds. Geithner said that they didn't want to micromanage banks or impose restrictions that would cost them money. So -- nothing."

I love Sherrod....he's on "our" side. WTF is with Geithner's statement and whose side is he on, anyway? :wtf:

K&R