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Geithner set to jump ship

Erod

Erod

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DRUDGE REPORT 2011®

Not a story posted, but the headline on Drudge, complete with the famous flashing emergency light, is reporting that Tim Geithner is stepping down.

Good news, but Obama will just replace him with another wannabe.
 
Erod said:
DRUDGE REPORT 2011®

Not a story posted, but the headline on Drudge, complete with the famous flashing emergency light, is reporting that Tim Geithner is stepping down.

Good news, but Obama will just replace him with another wannabe.
Click to expand...

Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.
Geithner hasn’t made a final decision and won’t do so until the debt ceiling issue has been resolved, according to one of the people. All spoke on condition of anonymity to discuss private discussions.
The Treasury secretary has said the U.S. risks defaulting on its obligations if Congress doesn’t raise the $14.3 trillion debt ceiling by Aug. 2. The administration and congressional Republicans are at an impasse in negotiations to raise the limit, which also is tied to efforts to cut the nation’s long- term deficit.
Moody’s Investors Service said on June 2 it expects to place the U.S. government’s Aaa credit rating under review for a possible downgrade if there’s no progress on the debt limit by mid-July. Fitch Ratings said June 21 it would place the U.S. on a negative rating watch if no action is taken by Aug. 2.
Click to expand...

Geithner Said to Consider Leaving Treasury After Debt Debate - Bloomberg
 
Like other things, I'll believe it when its re-posted on a non highly conservative blog. I say this because the conservative rumor mill surrounding Obama's top admin is full of wishful thinking (Hilary to resign anyone?).

Edit: And there we have it. LOL
 
Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.
Click to expand...

He may be there a while.
 
They are simply discovering the fallacy of the Keynesian philosophy.
 
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Moderator's Warning:
Before some one reports, link to MSM in post # 2, this is fine.
 
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Marshabar said:
Found it at Bloomberg, Erod. Geithner to Consider Leaving Treasury After Debt Debate - Bloomberg

Oops! Didn't see you already had it.
Click to expand...


Geithner is just another in a long line to leave - and frankly, isn't he one of the guys who caused this country's problems in the first place?

obcat.jpg
 
Yes, but in truth this happens in all Admins....they get worn out.

Ockham said:
Geithner is just another in a long line to leave - and frankly, isn't he one of the guys who caused this country's problems in the first place?

obcat.jpg
Click to expand...
 
Amazed said:
They are simply discovering the fallacy of the Keynesian philosophy.
Click to expand...

This isn't a fallacy of Keynesian philosphy, its a philosophy of using taxes to get results you prefer and never repealing the results you don't. Its a fallacy of the entire banking system that we've created. If banks weren't allowed to loan out our money, there would never be a run on banks and never be a need for the federal reserve.
 
Amazed said:
Yes, but in truth this happens in all Admins....they get worn out.
Click to expand...

Eventually yes. However the list of 2 1/2 years of the Obama Administration is rather impressive for such a short period of time versus Obama's predecessor.

Burton
Klain
Glen Fine
Jim Jones
Summers
Romer
Robert Gates
Moran
Craig
Desire Rogers
Blair
Orzag
Mcrystal
Emmanuel
Lippert
Carter
Hoh
Anita Dunn
Sergant
Hathaway
Crawford
Rattner
Van Jones



Versus the Bush Admin from mid 2002

Novotny
Zahn
Oppegard
Hahn
Dombeck
Furmish
Parker
Lowarnce
Schaeffer
 
It is absolutely about Keyensian Economics.

It doesn't work in the extremes that Progressives attempt claim it does.

But to the issue of Geithner....these folks are just worn out.


xpiher said:
This isn't a fallacy of Keynesian philosphy, its a philosophy of using taxes to get results you prefer and never repealing the results you don't. Its a fallacy of the entire banking system that we've created. If banks weren't allowed to loan out our money, there would never be a run on banks and never be a need for the federal reserve.
Click to expand...
 
I could NEVER work in an Admin...I simply will not put in those hours.

I have too much fun living.

Ockham said:
Eventually yes. However the list of 2 1/2 years of the Obama Administration is rather impressive for such a short period of time versus Obama's predecessor.

Burton
Klain
Glen Fine
Jim Jones
Summers
Romer
Robert Gates
Moran
Craig
Desire Rogers
Blair
Orzag
Mcrystal
Emmanuel
Lippert
Carter
Hoh
Anita Dunn
Sergant
Hathaway
Crawford
Rattner
Van Jones



Versus the Bush Admin from mid 2002

Novotny
Zahn
Oppegard
Hahn
Dombeck
Furmish
Parker
Lowarnce
Schaeffer
Click to expand...
 
Of course Turbo Tax Tim is going to bail. He doesn't want his name tied to this cluster ****.
 
apdst said:
Of course Turbo Tax Tim is going to bail. He doesn't want his name tied to this cluster ****.
Click to expand...
Too late. :doh

.
 
This isn't so much a story of an administration official leaving (if he does) as it does happen. It's a story of how a guy who helped run the economy in the ditch, couldn't do his own taxes, was as dumb as a knot on a log was allowed to run the Treasury in the first place.

His tenure will be noted as an absolute failure.
 
So will he be called a quitter like Palin?
 
It's a multifarious list too.

Burton - Left because his wife was expecting.
Klain - Left for a fat paycheck in the private sector
Glen Fine -Probably left because he'd already been there for like 15 years.
Jim Jones - Left because of a damning book by Bob Woodward.
Summers - Left because he came under fire for the stimulus
Gates - I don't really want to know why because the reason will scare the **** out of me.
Romer - Left because she came under fire for the stimulus.
Moran - Left to become COS for Commerce Secretary Gary Locke.
Craig - Left because of Guantanamo
Desire Rogers - Left because of the White House dinner-crashing scandal
Blair- Left because of the Christmas Day bombing attempt, because of leaks, and because Leon Panetta hated him.
Orzag - Left because he couldn't persuade people to take the deficit seriously
Mcrystal - Left because of a damning Rolling Stone article.
Emmanuel - Left (probably) because of Israel
Lippert - Left to rejoin the Navy
Carter - Left because of "personal reasons"
Hoh - Left because of disagreement on Afghanistan
Anita Dunn - Only took the job on an interim basis
Sergant - Left after Glenn Beck shat on him for allegedly overstepping his boundaries and creating propaganda art.
Hathaway - Left because of "personal reasons."
Crawford - Left to work for UMichigan law school.
Rattner - Left because of a pension scandal.
Van Jones - Left because Glenn Beck shat on him for signing a 9/11 conspiracy petition
 
Amazed said:
I beg to differ suh...
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Then you don't know what type of stimulus Keynesian promoted. Hint, it wasn't just tax cuts.
 
(smile) And Bush/Bammy's was?

Keynesian economics ( /ˈkeɪnziən/ kayn-zee-ən; also called Keynesianism and Keynesian theory) is a macroeconomic theory based on the ideas of 20th century English economist John Maynard Keynes (1883 – 1946). Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.[

Keynesian economics - Wikipedia, the free encyclopedia

You folks need to broaden your horizon's.......you need to fit everything into your neat little "boxes"...and that just ain't the way life is ;)


xpiher said:
Then you don't know what type of stimulus Keynesian promoted. Hint, it wasn't just tax cuts.
Click to expand...
 
From the same source....

Keynesian economics advocates a mixed economy—predominantly private sector, but with a large role of government and public sector—and served as the economic model during the later part of the Great Depression, World War II, and the post-war economic expansion (1945–1973), though it lost some influence following the stagflation of the 1970s. The advent of the global financial crisis in 2007 has caused a resurgence in Keynesian thought. The former British Prime Minister Gordon Brown, former President of the United States George W. Bush, President Barack Obama, and other world leaders have used Keynesian economics through government stimulus programs to attempt to assist the economic state of their countries.[2][3]

 
Amazed said:
(smile) And Bush/Bammy's was?

Keynesian economics ( /ˈkeɪnziən/ kayn-zee-ən; also called Keynesianism and Keynesian theory) is a macroeconomic theory based on the ideas of 20th century English economist John Maynard Keynes (1883 – 1946). Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.[

Keynesian economics - Wikipedia, the free encyclopedia

You folks need to broaden your horizon's.......you need to fit everything into your neat little "boxes"...and that just ain't the way life is ;)
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You should see the discussions about Socialism and Communism. If something doesn't fit the defintion to a "T", then it's not valid. Insane... I'd expect the same about Keynesian Economics.
 
Ockham said:
You should see the discussions about Socialism and Communism. If something doesn't fit the defintion to a "T", then it's not valid. Insane... I'd expect the same about Keynesian Economics.
Click to expand...

Keynes would have advocated for a massive government created jobs campaign during the last recession and now, not tax cuts. It fits the theoretical definition of what he advocated, not the not the practicing of it. Obama largely used "conservative/repub" policies to stimulate the economy which is why the left doesn't like Obama.
 
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