So Long, Tim Geithner

[FourScore]

CNBC: So Long, Tim Geithner
by Chris in Paris on 11/04/2010 09:07:00 AM


He's survived so far but will the election results force the issue? Outside of the White House, it's hard to find anyone who was impressed with the financial regulation, which still lags behind the FDR regulation.

There will be heavy pressure from within the Democratic party for the Obama administration to make changes that will both publicly mark a change of direction for the administration and privately send a message to party insiders that the White House is accepting its share of the blame for the loss of the House of Representatives.

Geithner is a clear candidate to play the fall-guy. In exit polls, six in 10 voters said the economy is the nation's No.1 problem. Around four in 10 believe their family's financial condition got worse since Obama took office. Geithner is the nation's chief economic official. A large share of the blame for last night's results will likely fall on him.

Geithner outlasted many other economic advisers to the president, including Peter Orzsag, Herb Allison, Steve Rattner, Larry Summers and Christina Romer. Insiders say the role he played in getting Congress to pass the financial reform bill has significantly strengthened his position in the administration.

http://www.americablog.com/2010/11/cnbc-so-long-tim-geithner.html

[xchrom]

1. Recommend

[marions ghost]

2. I'm not an economics expert

--just a consumer who pays some attention. I didn't think Geithner was that bad. Am I wrong?

So why are you against him? What specifically makes you think he should be the fall guy?

[lamp_shade]

3. Bookmarking this just in case you get an answer. I haven't seen a good one yet.

:hi:

[snot]

4. He's not a fall guy; he was the hireling of the architects of the collapse.

This is one of the areas a lot of people got upset with Obama about -- that up until the appt of Liz Warren, which Obama seemed to agree to only reluctantly, his ENTIRE economic team consisted of the guys who LITERALLY engineered the causes of the economic crisis, and NONE of the people who warned against what was happening. (More info at http://c-cyte.blogspot.com/2009/01/naomi-klein-aka-cassandra-on-obamas.html .)

[marions ghost]

5. so therefore

he should be the fall guy?

thanx for link

[FourScore]

6. Got a better idea? n/t

[snot]

7. I just meant, I'd like to see him & all his masters OUT of the loop.

[dionysus]

8. obama picked him, therefore he's rotten. it's that simple.

[jeff47]

9. 'Cause the entire team did a crappy job

The problem is the entire economic team did a bad job. Reportedly, they were ideologically opposed to more stimulus spending. So they never presented more stimulus spending as a 'good idea' to the President. That would have been the best way to mitigate the losses in the election.

Secondly, Geithner and the rest of the senior economic team have consistently resisted attempts to crack down on Wall Street and the banks. While that wouldn't have fixed the economy, it would have been a very helpful symbol for the election.

Third, China. Geithner has been resisting attempts to get China to stop manipulating it's currency. That hurts our economy, and only really helps the offshoring cartel.

But mostly, he should go 'cause "running the economy" is his job, and the economy's still in the shitter and not really getting better. Whether that's his fault or not, it's his job to fix it.

[marions ghost]

10. k & r

n/t