Okay, what's the back story on the Treasury guy?

[The Backlash Cometh]

Why? Was he not properly vetted by the Obama camp? It was an embarrassment.

http://ca.news.yahoo.com/s/cbc/090121/world/world_geithner_treasury_1

[JuniperLea]

1. As I recall this was known well in advance

And deemed a learning event making him all the more suited for the office.

[The Backlash Cometh]

3. That's spin.

I guess we're going to get a more compassionate IRS? So we all get one "Get out of jail" card?

[JuniperLea]

9. I think you need to go find a good definition of spin

I work in the spin business; this is not spin. It may be a lot of things, but it is not spin.

Do you have someone do your taxes? Have you ever filed a quarterly tax return?

[Romulox]

13. Of course this is spin: "a learning event making him all the more suited for the office." nt

[The Backlash Cometh]

19. We do our own and we've been audited three, maybe four times.

And I'm sure we don't make nearly as much money as he did.

Do I mind getting audited? Actually, not really. Not the first two times. But the third...I'm beginning to suspect something is going on.

And, I'm not in the spin business, therefore, my perspective will probably be closer to public perception.

[exboyfil]

6. Only the little people pay taxes??

The feeling I am getting from the hearing, and the thing he does not want to say is that, since the statute of limitations had run out, he wanted to keep this money (2001 and 2002 returns). Can't know for sure. The very fact he botched 2001-2004 is an indication of either a willful desire to avoid (which I doubt) or an inability to understand and implement the tax code (more likely). Remember he is a highly educated individual who worked for the Treasury, and he can't get his taxes right. What does that mean for the rest of us? I would argue that when the tax code gets so complicated that a normal person can't do it (ie someone with a High School education), you have a real problem.

He is better than some so go ahead and confirm. Just don't insult our intelligence by his obtuseness.

[JuniperLea]

10. Do you honestly think he fills out his own tax forms?

The bottom line is the IRS, rightly or wrongly, decided this was no big deal and didn't press charges. And all of this was put on the table weeks ago, but it's just now getting press? Really? And you don't question that?

He knows more than most about the current situation. If Obama thinks we need him, I think we need him. There simply isn't enough here to spin into something willfully illegal.

[Romulox]

12. He testified that he did. With TurboTax.

:hi:

[EFerrari]

30. Do you realize how much work has to be done before you sit down to TurboTax?

[Romulox]

37. As a wage-earner, I am well aware of what is involved in filing taxes. nt

[EFerrari]

41. My mom's tax papers are a three inch stack. How about yours?

By the time you sit down to TurboTax, you have to have the number in hand already, 80% of the work down. And that is the issue here.

[Romulox]

49. Probably at least that thick. I have to pay taxes quarterly, as well. nt

[The Backlash Cometh]

20. I know there were a lot of weasly people around that time.

It was all about how to cheat Uncle Sam.

[marshall]

7. The best drug counselors are former addicts

Those who have done the crime are the best at profiling those that are doing the crime.

[Romulox]

14. By that logic, then shouldn't Bernie Madoff be head of Treasury? nt

[JuniperLea]

16. There's no logic in that at all

Madoff didn't spend time looking over BushCo's collective shoulder.

[Romulox]

18. Just like there's no logic to "The best drug counselors are former addicts" in re to Geithner

[Mind_your_head]

56. Agreed.

That statement about the drug counselors has no relationship to the Geithner 'issue'.

[The Backlash Cometh]

22. LOL!

[JuniperLea]

15. I've always subscribed to that thought

And this guy was around when a lot of the dirty went down. He no doubt heard a lot of the bullshit BushCo was using for the bailouts, and I'm betting he knows where many skeletons are buried.

[The Backlash Cometh]

21. I don't know what to say.

[Tangerine LaBamba]

2. It's no big deal

A tempest in a teapot.

The same as they're trying to do to Eric Holder - grab on to nothing and try to strangle the candidate with it.

It's total crap. Geithner had already remedied his errors, the IRS didn't see fit to bring any kind of punitive action against him, so there's absolutely no beef.

These fuckers are just trying to show how TOUGH they are. And they're on a sinking ship, so they're kind of desperate.

We need Geithner a lot more than he needs us, believe me. I think it's goddamn noble of him to subject himself to this kind of bullshit. Shows you how dedicated he is to getting this job and doing it right.

[The Backlash Cometh]

4. You do realize, that this is just like having a bank manager, who can't

balance his checkbook? Like we need to elaborate where the problem with that is.

[Tangerine LaBamba]

8. No, I don't realize that,

because a specious comparison like that is worthless, and I'm smarter than that.

[The Backlash Cometh]

23. You don't think a person has to show some competence in the field he's

assigned to manage?

[Tangerine LaBamba]

39. He's not being hired

by H&R Block.

Can you see the difference?

That's like saying every CEO of a corporation had better know how to do filing and type letters on a word processor.

Dumb. Specious.

[The Backlash Cometh]

43. His responsibility is much greater.

And, yes, I think if we can put our finger on one good reason why our country is facing a depression, it is because the financial corporations have appointed CEOs who don't know what's going on in the bullpin.

Your example is incredibly weak. You would flunk the SAT question:

Banking is to balancing your checkbook, as Treasury Chief is

A) Typing on a wordprocessor.
B) Husking corn
C) Filing your taxes.
D) All of the Above.

[Tangerine LaBamba]

45. Fortunately,

you're not at ETS and I'm not taking the SAT.

What I am doing is sitting here, laughing at some dimwit who keeps trying to "win" some sort of imaginary argument - taking place only in the dimwit's head - about something that's irrelevant. The dimwit doesn't understand that.

Hence, a dimwit.

[The Backlash Cometh]

48. Atleast, I'm being polite enough not to bring it to your attention.

And, I see you've run out of any intelligent argument. Trying to act superior, doesn't make you so.

[Tangerine LaBamba]

50. Hmmmmmmmm?

Replace your bulb, toots. You're all dimmed out.

Your specious example, as I said, was just that - ill-conceived and not relevant. Trying to fashion yourself as ETS was cute, in a short bus kind of way.

Look, you obviously have some sort of hardon for Geithner, and you're trying to dress it up in some sort of meaningful argument. But, what you fail to see is that there is no meaningful argument, and your anger is all that shows.

Hence your blathering becomes laughable. Yeah, the head of Treasury should really know how to do taxes. Right.

[The Backlash Cometh]

53. Nice attempt on the projection.

My example was spot on and you know it. You got embarrassed and went on the defensive with insults. How you've managed to last this long on this newsgroup with that strategy is a testimony to the tolerance of all DUers.

The IRS is a division of the Treasury Department, or did that little fact slip your mind? I don't know the individual personally, I do not have a grudge against him personally, but I am now judging him on his action, or lack of action. That is fair game. It's a question of responsibility. If he can't do his own taxes, he's not going to get any respect from those who the IRS is charged to come after when they don't file their taxes either.

Let's see if you can respond to this without the adolescent comments.

[EFerrari]

24. Not really. Most bank managers have accountants that do their books

while they focus on their job. :shrug:

[The Backlash Cometh]

25. Bank managers have accountants do their personal checkbooks?

I'm looking for a minimum level of competence here. This is exactly the flaw with Wall Street. The CEOs didn't know at all, what was going on in the bullpins.

[EFerrari]

28. I used to balance my boss's checkbook. She was probably better at it

than I was but it was my job to do while she did other things. She wouldn't have known if I screwed up royally either unless something really bad happened. At her level, she carried plastic or had accounts everywhere and it was my job to make sure they were all in order. :shrug:

[The Backlash Cometh]

31. And who would the bank have held responsible if you had screwed up

and bounced checks?

Do you realize what you're suggesting? Plausible Deniability.

[EFerrari]

34. No, I'm just telling you how it worked. My boss was ultimately responsible

for all the accounts in her name and also in the company name because she was the sole proprietor. Although, I guess if we had gone on a spree and it could be shown that I participated, I'd be in the pokey right next to her.

But it is true that in the ten years or so I worked that job, she didn't come into the picture until after I'd sent the quarterly stuff to the tax accountant and they sat down to do the details and that didn't even happen every year because tracking those details was my job. That's why I got the big money. lol :)

[KharmaTrain]

5. They Used To Call It Grandstanding

Just consider this both the spoils of victory and the shoe being on the other foot. People may remember how much of a fuss we put up here about ALL nominations during the past regime and how those who stood with us became heroes. The right wing is in their own reajustment period...they're just realizing they're have no power any longer. Not only did they lose the White House, but their numbers are a lot smaller in the House & Senate. Their corrupt party is leaderless and the few remaining are falling over each other to pander to the dwindling numbers that remain.

Yes...we aren't in a position where we can fight about fixing the economy. It's lead, follow or get out of the way.

It's amazing how few in the corporate media understand what quarterly taxes are about. One would figger they are making some nice coin and would be filing estimates themselves. Probably, like Geitner, they have a hired book who is supposed to does it for them. Now would these fine folks like to show us their tax returns to see if they filed properly? :rofl:

Cheers...

[Romulox]

17. Ever consider that some on the Left have no patience for tax cheats? nt

[Romulox]

11. He's a tax cheat. Apparently if you're rich, it's no big deal. nt

[shintao]

26. Geeze! Tell me about it!!

The IRS sent me a letter last year that I owed .63 cents.

[EFerrari]

29. There is zero evidence that indicates he meant to cheat. n/t

[Romulox]

40. The fact that he did indeed cheat is SOME evidence that he itended to do so. nt

[EFerrari]

42. There is zero evidence that he did cheat. n/t

[Romulox]

46. He's admitted to it. Oi vey. nt

[EFerrari]

51. No. He admitted to error.

Good grief. People make mistakes all the time. People who want to get the best possible deal and who have no intention of defrauding anyone. It happens. This is Little Casino, not Big Casino. But you can keep calling him "a tax cheat" if it somehow makes you feel better. :crazy:

[Romulox]

52. He cheated on his taxes. His intention may be inferred from his actions.

After all, he didn't OVERPAY.

I submit that if Geithner was a Bush nominee, your opinion of him would be radically different.

[EFerrari]

54. There is zero evidence that indicates he meant to cheat.

And no, it wouldn't matter who he is. There isn't any evidence at all that he did anything more than screw up his tax payment.

[Romulox]

55. The fact that he did indeed cheat is SOME evidence that he intended to do so.

There's joy in repetition!

[Hannah Bell]

44. unless you're caroline kennedy, of course. then it disqualifies you from office.

[Romulox]

47. I know. The rich and the powerful get such a RAW DEAL in these United States! nt

[EFerrari]

27. The bit that I remember from a segment on Rachel's show is that he

changed jobs and the way his taxes were withheld changed. A self-employed v. being employed difference. When he found out about it, he immediately paid two of the four years difference and then had to pay the rest later.

It sounds to me like sloppiness more than trying to bilk the IRS. Stuff happens and he did pay what he owed.

[The Backlash Cometh]

32. I still think we should ride him so that he remembers that there's no

room for these kinds of mistakes in Obama's style of public service.

[EFerrari]

33. Sure. Details matter. What a difference, though, between putting him under a microscope

and playing football with bundles of money in Iraq.

[sfpcjock]

35. He was head of NY Fed

...so like Ron Reagan said yesterday, he may be somewhat soft on regulation of Wall Street and the "financial services" industry.

About the $32K back taxes he owed at one time: maybe the guy didn't have the do-re-me to pay up? I'm sure he didn't want to admit it.

[backscatter712]

36. I believe it was Obama's vetting people that caught Geithner's tax fuckup.

I think they found it, but decided that it was minor enough, and a one-off genuine mistake, not a pattern of bad behavior, so they decided to tell him to fix it, and kept him in.

It does look like he'll be confirmed, and I don't think he'd still be in nomination if Obama didn't have confidence in him.

[slipslidingaway]

38. From the Senate Finance committee...

30 page pdf, the first 4 pages are notes and the balance are copies of documents

http://finance.senate.gov/press/Bpress/2009press/prb011309d.pdf


No questions asked yesterday about these issues...

Senator Byron Dorgan:Federal Reserve Refuses To Identify Recipients Of 2 Trillion In Emergency Loans

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=257863&mesg_id=257863


Treasury Nominee Failed to Halt Bond Scam

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=114&topic_id=54346&mesg_id=54346