Michelle Malkin » Tax cheat wonder boy Geithner is a laughingstock

Tax cheat wonder boy Geithner is a laughingstock

By Michelle Malkin • February 10, 2009 05:08 PM

Administration officials were greeted with sarcasm and laughter Monday night when they briefed lawmakers and congressional staff on Treasury Secretary Tim Geithner’s new financial-sector bailout project, according to people who were in the room.

The laughter was at its height when Obama officials explained that the White House planned to guarantee a wide swath of toxic assets — which they referred to as “legacy assets” — but wouldn’t be asking Congress for money. Rep. Brad Sherman (D-CA), a bailout opponent in the fall, asked the officials to give Congress the total dollar figure for which they were on the hook. The officials said that they couldn’t provide a number, a response met by chuckling that was bipartisan, but tilted toward the GOP side.

Snort.

Oh, and just a reminder about the 10 Republicans who voted for the tax cheat/wonder boy because he was so uniquely qualified — with iron-clad credibility — to do the job:

Corker (R-TN)
Cornyn (R-TX)
Crapo (R-ID)
Ensign (R-NV)
Graham (R-SC)
Gregg (R-NH)
Hatch (R-UT)
Shelby (R-AL)
Snowe (R-ME)
Voinovich (R-OH)

***

The stock market doesn’t think it’s funny:

Investors are frustrated with the government’s latest bank bailout plan — and showing it by unloading stocks.

The major stock indexes fell more than 4 percent Tuesday, including the Dow Jones industrial average, which tumbled 382 points. Financial stocks led the market lower, a sign of how concerned Wall Street is about the government’s ability to restore the health of the banking industry.

Traders and investors said the lack of specifics from Treasury Secretary Timothy Geithner on how the government will direct more than $1 trillion in public and private support was troubling.

The plan is aimed at restoring proper functioning to credit markets, which seized up over worries about bad debt after the September bankruptcy of Lehman Brothers Holdings Inc. The latest plan calls for a government-private sector partnership to help remove banks’ soured assets from their books. It would also boost an effort to unclog the credit markets that govern loans to consumers and businesses.

“The good news is they are going to spend a trillion dollars, the bad news is they don’t know how,” said James Cox, managing partner at Harris Financial Group.

Posted in: Tim Geithner

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#101

On February 10th, 2009 at 11:11 pm, fairyfoose said:

I had heard (from Jerry Doyle) that Geithner was Paulson’s numero dos and helped him come up with the TARP Plan. What impresses me about his statement as to withholding details until he/they get it right is I thought there were Sunshine Laws? Yes, I realize these are Democrats we are dealing with, but didn’t they learn anything from Hillary’s healthcare taskforce? (aside from burying e-v-e-r-y-t-h-i-n-g in a 600+ page bill?)

Add me to the boiling mad group. I didn’t send Mike Duncan (the ex-RNC Chair, yes that Mike Duncan) money. But I will send some to Mike Steele. Love it that he asked for resignations.

I’m going to dig out my `Don’t Blame Me,I Don’t Vote Democrat’ Bumper Sticker. Wonder if the Morons at Stanford where I work, will deface my big, honking SUV?
#102

On February 10th, 2009 at 11:15 pm, fairyfoose said:

Right by the Sea and Southpaw, Chase hasn’t pulled any of those shenanigans. Change to them and see what they say when you tell them you’re taking your business to them instead of the soon-to-be-out-of-business Loser Company.
#103

On February 10th, 2009 at 11:41 pm, Oink said:

On February 10th, 2009 at 6:14 pm, TXGator said:
Apparently, you guys don’t read the papers or Newsweek or, you get the idea. According to them, Obama has such a strength about him, such a grace, such….

The enemy is all around us.

Always remember… we may be out-numbered, but we’re still right.
#104

On February 10th, 2009 at 11:44 pm, Elm Creek Smith said:

An unnamed bank (founded by some Italian guy in California) raised my credit card interest rate from 6.9% to 19.9% and my wife’s credit card interest rate from 7.9% to 21% without warning or justification after they got the “bailout bucks.”

In retaliation, also without warning or justification, I transferred the balances on both contracts to a Single Action Shooting Society-sponsored credit card with another bank. The transferred balances (not significant) have 0% interest for one year and the fixed interest rate on the card is 6.9%.

More bailout money administered by a lying tax evader? I say no!

The resistance is here. The resistance is now. RESIST!

ECS
#106

On February 10th, 2009 at 11:58 pm, Right By-The-Sea said:

fairyfoose said:

Right by the Sea and Southpaw, Chase hasn’t pulled any of those shenanigans. Change to them and see what they say when you tell them you’re taking your business to them instead of the soon-to-be-out-of-business Loser Company.

I can’t speak for Southpaw, but it was Chase that pulled this shenanigan with my card.
#116

On February 11th, 2009 at 7:45 am, Chief RZ said:

Not only loosers, people of little integrity to fit in with special protected minorities who were formerly known as — you name it.
#117

On February 11th, 2009 at 7:50 am, ELINVESTI8 said:

What is it they say about December 12, 2012. It’s looking more and more like we’re heading in that direction.
#118

On February 11th, 2009 at 7:52 am, bradley said:

I heard yesterday that Geithner’s new “plan” on saving the economic world was created by someone else. Someone on his staff? I thought HE was so “talented and valuable” he could ignore his taxes and save us! Damn. Misled again.
#119

On February 11th, 2009 at 9:17 am, thetoysurgeon said:

I am to the point , as well as many of my friends, to where we have lost confidence in the US government. I usually vote GOP, but Bush was a joke and Obama is even a bigger joke. Its ony been 22 days and we are dreading the next 1438. Is there anyone in this nation who can run the government? If no one comes forward we need to kill the one we got and start over again. The stranglehold of the DEMs and GOP on governement is killing us. Its like they are one in the same. Lets face reality people. This is no game.
#120

On February 11th, 2009 at 9:22 am, Misscheryl said:

Personally, we are paying off credit cards and for the reasons noted above. We can see the writing on the wall. Soon, with the exception of our house we will be debt free. I don’t trust this government!
#121

On February 11th, 2009 at 10:07 am, ahraley said:

A good read on the bad plan….

http://online.wsj.com/article/SB123431465155370931.html
#124

On February 11th, 2009 at 12:59 pm, TXRose said:

Amen Bear!!!!
I tried to tie a broomstick to Cornyn’s back to at least
simulate a spine but it doesn’t seem to have worked.
At least Hutchison didn’t join him…yet.
#126

On February 12th, 2009 at 12:07 pm, jlhudg23 said:

Geithner isn’t “uniquely qualified” to scrub my toilet, much less run Treasury.

What a joke. A sick, sick joke.
#128

On March 5th, 2009 at 3:58 am, ArizonaNeanderthal said:

Tax cheat wonder boy Geithner is a laughingstock alright but some how I feel more like crying. When he does leave Treasury he can go to work for TurboTax as a bad example.
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Keep the change-I’ll keep my guns