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Tim Geithner: Welcome To The Unemployment Line
The last rat is preparing to jump from the SS Obamic
GEITHNER SAID TO CONSIDER LEAVING TREASURY AFTER BUDGET DEAL
Explains why the market just ripped.
In the meantime, a cubicle at 270 Park is being prepared.
From Bloomberg:
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.
An exit by Geithner would complete the turnover in Obama’s original economic team, with Council of Economic Advisers Chairman Austan Goolsbee scheduled to leave in early August to return to the University of Chicago.
That would leave Obama with two key posts to fill as Republicans are seeking to turn the 2012 election into a referendum on Obama’s handling of the economy and the recovery is slowing. The unemployment rate rose to 9.1 percent in May, according to the Labor Department, and the U.S. economy grew at a 1.9 percent pace in the first quarter, according to Commerce Department figures released June 24.
Geithner, 49, has told associates that he needs a break from government service after dealing with the turmoil that followed the collapse of Wall Street firms including Bear Stearns Cos. and Lehman Brothers Holdings Inc., first as president of the Federal Reserve Bank of New York and then as Obama’s treasury secretary.
Family considerations also are playing a role in Geithner’s deliberations, according to the people. His son has decided to finish his final year of high school in New York.
If Geithner does leave the administration, Obama would be losing a member of his economic team who understands Washington institutions and the New York banking world as well the intricacies of the Chinese economy. Geithner has pressed the Chinese to let their currency appreciate faster to reduce the global imbalances that both he and Obama have blamed for financial uncertainty.
In addition to Goolsbee, who announced his decision to return to the University of Chicago earlier this month, three other top Obama economic advisers already have departed. At the CEA, Goolsbee replaced Romer, who returned to teaching at the University of California at Berkeley last September. National Economic Council Director Lawrence Summers and Office of Management and Budget Director Peter Orszag left the administration last year. Summers returned to Harvard University, and Orszag is now vice chairman of global banking at Citigroup Inc.
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He must bump into a lot of walls--oh well, at least dog poop is soft.
Hmm nice, so did someone check Lord Dimon's calendar? Who better to make sure it's soothe looting full speed ahead? Should be met with a roar of approval from both sides of the pillage spectrum, after all he has business experience :)
Yep,
Since he's the primary beneficiary of the rigged Treasury auctions, I think it's time he start rigging them himself.
Remember kids,
Jamie = super-low interest rates, for ever and ever and ever.....
Don't get caught on the wrong side.
Do we have a source for this? Smells like just a rumor (and a great one at that!).
(edit) I see the source now.
Timmahs face is still in my deck of "Most Wanted".
What a piece of scum-- not going to be surprised if he gets something nice and cushy after this-- afterall he helped kill the economic prospects of this country and allowed the criminal syndicate to benefit from that-- surely that comes with a nice payout from someone.
'Explains why the markets just ripped'
Eqities are up because the dollar is in freefall. Who cares though? Not americans, theyre too fucking stupid.
All a Bunch of BS, nothing changes, and all rats are just jumping ship before the collapse.
Let's put 2 and 2 together. Farkas gets sentenced tomorrow. It is quite clear that Fannie, under Franklin Raines, obstructed justice. Timmah guaranteed the junk Fannie pumped out. Timmah is going to resign? Any connection?
Timmayyy out! Krugman (hurl!) in?
I actually did throw up in my mouth a little bit.
Second time for me today in half an hour. First came after reading abt the european cdo which will make the insolvency issues even worse and then the idea of Paul "i need more stimulus" Krugman popped into my mind.
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
Could this mean the debt ceiling issue WON'T BE RESOLVED? LOL Maybe Timmah is just head faking and he wants a default ;-)
Until then, Keep then clicks coming $$$$$
After the debt ceiling is raised and more graft secured, his job will be done and he can crawl back to his slimy banker bosses with pride.
Well, let's hope Krugman isn't sniffing around to be his replacement...........oh, the horror
Krugman, Reich & Geithner has an interesting ring as a tax advisory firm...
Yeah, like the "SS"!
Tuco Benedicto Pacifico Juan Maria Ramirez
why not?....the faster this toilet flushes, the sooner we can get on with something resembling reality.
You read my mind. I can see it now:
Secretary of the Treasury: Pauly Krugnuts
FUUUUUUUUUUUUUUUUUUUU*******************KKKKKKKKK MMMMMMMEEEEEEEEEEEEEEEEEE
overheard in line behind timmah's car at the mcdonald's drive through...
"Undersize Me!"
Also White House chief of staff Rahm Emmanuel having left the administration.
Es wird langsam einsam um Herrn Obama.
Wenn du einen Freund in Washington willst, dann kaufe dir einen Hund.
LOL !
dodd frank gutted, hamp and mortgage relief programs failed, TBTF alive and well, mission accomplished!!!
Musca indebticus, wow ! That was great WB.
good bye you globalist shit
And another equal globalist shit takes his place. Big deal.
Good riddance Geithner!
Now we will find out who his sugardaddy is? Any bets on where he is going to work?
Or maybe get a series of fat speaking engagements?
Or a prefunded book deal?
going to work for.......satan
OH, he's taking a period of self employment
no separation from service, so no gvt. pension rollover
double post
I assume it will be GS since he got his buddies 100 % on the dollar for a bunch of shit.
It will be about six months just to make an appearance of legitimacy.
Good riddance you piece of shit!
All I know is Im buying more gold and ammo, hell with this crap.
Well Rahm Emmanuel used the WH as stepping stone to Mayor. Tiny Tim might have school board aspirations.
China's equivalent of Navy Seals Team Six just mobilized...
Where to?
BTW in other news which americans dont care about, the STL indictments were just handed down. Of course americans dont know or care what that is, just as long as their stupid stocks are green, then all is well.
Oh, this is a REALLY good sign...
Thunderdome approacheth.
Who run Bartertown?
All hands abandon ship!
Word is Mark Halperin will be taking the job for his pinpoint accuracy and ability to call a shovel-ready job, a shove-it ready job. We're talking the next Nobel Peas Prize wiener.
The perfect storm is coming and ELF ears knows it. He and Henry Paulson both want to be as far away as possible when the SHTF. Their heads depend on it.
Guillotines, bitches!!
+1. now you are talking...
be prepared.
Bets on whether Mark Zandi has a bit of wood over this announcement.
Sadly, geithner will get be maintained by the kleptocrats at a minimum of $10m a year. He has pictures and he knows where the bodies are buried.
That, or a Ron Brown style airplane "accident".
Thank you so much for that sweet reminder of April 3, 1996, Eb. You know its nice to occasionally be thankful for the small things in life, like a piece of toilet waste, being flushed from the sky! You made my day :)
270 Park Ave? Wouldn't 150 Park Row be more appropriate?
Any chance of sending Timmay to ClubFed?
See above address.
"Do Not Pass Go, Do Not Collect $200 million dollars..."
...and then there were none
Just wonder if some are booking the country...?
i hope al greenspan comes back! we must give him one more chance to do right!
Now TPTB will hand pick a new fall guy for Treasury. A GS alum perhaps?
Now TPTB will hand pick a new fall guy for Treasury. A GS alum perhaps?
Any chance DSK could plea bargain his way into the slot as "community service?" Might be fun.
A bankster has gotta do what a bankster has gotta do.
I'm sure Hank Paulson has a lovely little island reserved for Timmy, a short boat ride from his.
Oh, yeah, and a big enough of a bankroll to pay the ex. Special Services guys to protect them from "taxpayers".
Hank and Timmy and families will no doubt have special cookouts, and laugh about the "little people" back home over scotch and cigars. They'll let the hired help have the butts of their cigars and maybe a little cheap rum.
"God bless us, every one!"
Well, there you have it. Tim dosen't want to be the one to go to Congress asking for another bank bail out when the Greeks default and derivitives the U.S. banks hold explode.
I'm thinking he takes a consulting position at H & R Block.
Also Hillary jumping ship.
Something disastrous must be lurking in the future !
Will the new SecTreas post on the Treasury's blog?
Dave Harrison
www.tradewithdave.com
Bernanke for Treasury Secretary. Then we can end the whole charade. He can float the economy by buying Treasuries from himself.
Why not ?
Panetta and Petraeus also entering the revolving door CIA/Pentagon.
(DP)
nm
lulz
"Here, can you hold this bag?..."
LOLOLOLOL
Holy Shit!
Greenspan is on CNBC, talking coherently for the first time in history!
Says Greece will default or there will be a Euro consolidation, both fxcking things up.
Debt ceiling debate potentially catastrophic.
Talking the ZH book, you guys.
Debt ceiling debate potentially catastrophic.
that's right. just STFU and do what the central bankers say. or they will crash everything.
Will the new SecTreas post on the Treasury's blog?
Dave Harrison
www.tradewithdave.com
Couldn't have happened to a more deserving stooge!
My guess is he is taking the chopper, before being force to take it.
You still have Eric Holder, David Axelrod and Robert Gibbs from the original dirty dozen that set out to bring about: "Change you can believe in via The Audacity Of Hope".
Here's my suggestion for new Treasury secretary: Laurence Kotlikoff.
Now that would be a choice !
Alas, too little too late.
Don't worry too much about the prospects of this becoming reality though.
It's as likely as Howard Dean becoming president.
who needs a treasury secretary
let the fed run amerikas finances
oppp's
they already are ......
my God. if i recall his conformation hearings correctly, he was our last best hope - the only man on the planet who could save us.
Having a job where you have to essentially lie to the public every day must really suck. Don't blame him for wanting out.
another rat jumping off the SOS OBAMA......now whose signature will be on all those worthless dead presidents
Krusty the Klown's.
"This note is legal tender for all waffles, big ones and small ones."
Krusty: Sorry kids...I don't feel like borrowing billions against your future productivity today. [Takes a drag on his cigarette]
Overlooked news of the day: From early this am, Portugal retail sales were down around 7% yoy.
Austerity, bitchezzzzz!
But they're making their interest payments on time. For now.
He's been working very hard for China, maybe he plans to run their treasury into the ground now since they have all the money.
The key word is "consider".
Gosh, darn...I was hoping Barry would bring back Larry "Weak Dollar" Summers.
Finally a legitimate reason to rally
Tyler can we have a poll vote for his destination????
Poll sounds good!
thats what she said........
This is a ploy to incentivize Congress to quickly pass the debt ceiling increase.
Timmy we hardly knew ye!
So long good luck and good bye!!
If Timmy does 'return to private life' I'm willing to bet that there are plenty of people who wouldn't mind encountering him on the street and letting him know what they think of him, violently.
Btw, Sarkozy has been pulled by the jacket by an undisclosed man during a public appearance.
The man subsequently was overwhelmed by security detail, handcuffed and arrested.
Pauvre con.
Espece d'imbecile.
Salaud !
The guy must have really long arms to be able to reach down that far.
Qui, Sarko?
Gideon Gono getting a fast-pass visa to come to Amerika.
About time. What a tax dodging weasel.
He needs to go back to China and let them laugh at him again, just like they did in Spring 2009 when he first told them the USA economic plan. They literally laughed him off the stage at the Univeristy of Beijing -- "Show us the numbers!" they shouted and laughed, until he got off the stage.
He can now bookend it by giving them an update and tell them how nicely it all worked out. I'm sure they also throw vegetables, if not for Bernanke's food inflation.
Timmmuh, leebedow deeebedow leeblowwww!
Must not have been sociali- ahem, progressive enough for Obama.
AMF
Geez, can't even be honest anymore in this cuntry
http://news.yahoo.com/blogs/cutline/msnbc-suspends-mark-halperin-obama-r...
But but.. Tim's job is not done. There are still small pockets of gainfully employed people making mortgage payments.
Geithner is leaving? Does the US have an extradition treaty with Afghanistan, or wherever he's headed for?
Geithner is leaving? Does the US have an extradition treaty with Afghanistan, or wherever he's headed for?
France doesn't. He and Christine "no room for benevolence" Lagarde could compare notes.
timmah is v.v. stressed over the appearance of a debt ceiling.
so, the hissy fit. he is "considering leaving" over this! if those pols won't let the banksters run the joint, he's leaving!
lol! a cubicle @ the morgue! he can fade pimco from there!
Tiny Tim got the same results at Treasury than he got at the New York Fed
Fitrat is a fit rat but is Geithner a fitter rat?
doh!
I think as others have pointed out the "quality" of replacements could very well indicate how much time we have left. Hard to believe any of the important pig men would want their fingerprints on this trainwreck. Fallguys = get ready bitchez.
why not fill the position with algos and print WOPR on the computer, like 'Wealth Organization Printing Repository' or so.
Anyone checked the real estate market in Bahrain lately?
http://www.reuters.com/article/2011/06/30/us-usa-china-treasuries-idUSTR...
Thanks again to GATA...
Piece of illuminati slime will not be missed. Read up on Tim on the Wikipedia page. He's a real piece of work.
Considering,
"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,"
don't get your hopes up about Geithner leaving.
probably thrown in as a baited deal sweetener by the DemonPublicRats:
Look, we’ll ditch the G-man at Treasury if you go along with us on this debt-limit thingy (thinking all the while, for chrissakes, the best he could do as a stopgap was raid the federal pension pot-what unforgivable scruples).
All prepatory to putting in someone who’ll really open the floodgates with Bernanke to ensure Democrats and favored Republicans get re-elected. They don’t need to fix anything, just a palliative until the election’s over.
TTTGeithner career:
Federal Bank NY
Federal USTreasury
Federal Penitentiary...
No doubt Obama will choose someone acceptable to Republicans as Treasury Sec. and many Republicans are looking to get out of Congress. He will do anything to get a debt ceiling increase deal because if there is no deal , he will go down in history as the President overseeing a collapse of world economy. If he gets a deal however, he will be re-elected and in his second term he will become the President who oversaw the collapse of world economy. Shrewd man that Obama , he knows how to divert disaster by two our three years but a loser nevertheless because he cannot face reality
Little chance Obama gets re-elected with this economic record.In fact there is a better chance he decides not to run though his narcissism gets in the way.
Sorry, but time to repeat a classic:
JUST HOW RIGGED IS IT ???
JPMorgan Chase (this applies to Goldman Sachs & Morgan Stanley, but more so to top rat JPM) was responsible for lobbying congress for the overturning of Glass-Steagall, while it created the credit default swap, and countless variants of CDOs. It has enjoyed the strongest derivatives position since that time.
JPMorgan was responsible for structuring the securitized-mortgage-foreclosure profit cycle:
they profit from lending the mortgage, then profit from its securitization, then profit from its foreclosure (especially the FHA loans, where they automatically are reimbursed almost all of the original amount), then profit from its reselling, then profit when it's securitized again.
And JPMorgan Chase has been involved, both directly and indirectly, in offshoring jobs and promoting massive offshoring of jobs -- when then leads to economic problems and unemployment, thus leading to default on mortgages, resulting in foreclosures, further profiting JPMorgan Chase.
And if those unfortunate souls then must put in for food stamps, JPMorgan Chase profits from that program, as it is routinely, nationally and locally, handled by them and their banks.
And it doesn't end there, as those jobs are offshored to countless foreign factories, and foreign production facilities, and state-of-the-art research & development laboratories and training centers of which normally are financed -- over the past three to four decades -- by US foreign aid (USAID, OPIC, various and sundry other programs, etc.). [And people thought all those executives doing stints at those former government agencies -- they've now all since been privatized -- were actually performing public serivice?]
That's correct, you the taxpayer and your descendants, have paid for the multinationals' foreign enterprises -- while they pay almost no taxes, or usually none at all (over 70% of American-based multinationals and corporations at last count paid no federal taxes).
Just how rigged is it??? It's completely rigged.
Great Morgan's Ghost!
Just another panjandra who thinks everybody else but him is stupid. Who gives a shit about the stupid little bastard.
he should be headed to prison, where leroy is waiting to shove a big fat black cock in his ass
A new man from Goldman is coming.
Or Jamie Dimon.
Anywhooo, more scum a comin' to DC.
I apologize to our financial owners of congress.
He is the next amb ass ador to China
He is going to join Summers at the Vulture capitalist firm.
He will be the next Treasury Secretary for Greece
Rajat Gupta is the next US Treasury secretary
Raj Rajaratnam
Bernie Madoff
Sanders
any more. Heck wake up Charlie Ponzi
No better proof than this thing is about to get ugly than the biggest rat of all time at Treasury getting out.
I guess he's headed to the golf course to find "currency manipulators"!
He is probably making plans to fly down to Paraguay to live next door to the Bush family.
Does the Bloomberg reporter think this is April Fool's day--
If Geithner does leave the administration, Obama would be losing a member of his economic team who understands Washington institutions and the New York banking world as well the intricacies of the Chinese economy---
He/she cant be serious-"understands" the banking world ? How about he is a shill/puppet for said banking world---Good Ridance --Turbo Tax Timmah
Just when you thought Clusterfuck nation's daily sitcon couldnt get any better.
Oxygen gets you high. In a catastrophic emergency, you're taking giant panicked breaths. Suddenly you become euphoric, docile. You accept your fate. It's all right here. Emergency water landing - 600 miles an hour. Blank faces, calm as Hindu cows.
http://www.youtube.com/watch?v=oc1sgCT7X2c
One of two things are going on:
1. Timmy has sufficiently wrecked the economy and now sees that his work at destroying our economic freedom also as nearly completed.
2. He so much disagrees with the Obama administration and carrying out their socialist agenda that he can't take it anymore.
Treasury Secretaries historically seldom leave this early ... sure would like to be a fly on the wall in the WH.
If anyone needs to be dead really quick,Geithner fits the bill.
So....The "high school kid" gets to decide where the family lives...????
Riiight.
Bye, bye, Turbo Timmah! Perhaps he's resigning to retain counsel for all the RICO charges he'll be facing. I've been saying all along the standards under RICO have been met to charge any number of financial entities, not to mention the Fed Res and government agencies, etc. Really , though, I feel that the average American should be able to "tar and feather" - it's fatal - or any number of other apt punishments, their local, state and federal representatives by lottery. NO CLUB FED for these guys! Wall Streeters must be made to "Jump, fu@kers, jump"! All punishments should be public and physically severe.
Geithner:
"I've only worked in public service. I live for this work. It's the only thing I've ever done, I believe in it.
"We have a lot of challenges as a country, and I'm going to be doing it for the foreseeable future," he said.
probably a tacit admission that he really has no idea what's going to happen next. Just like Ben 'The Great Carnak' Bernanke.
QE2 ends and there are absolutely not enough buyers for treasuries so if you're Timmy seems like the right time.
This is a red alert! A central banker has just let the truth slip.
http://www.stuff.co.nz/business/world/5218159/Global-train-wreck-coming
Somebody needs to quickly stuff this guy back in the box before the truth virus spreads. When do central bankers get together next? Could see a contagion if brought into contact with others as like all humans they will flip over like a $50 whore to the correct side rather than fight the flashing neon truth.
Last updated 09:05 01/07/2011 yeah, i'd say that's in pretty slow motion.
Great he goes to fucking JPM. WTF. Screw these bastards
None of this matters-- it's only a superficial act to appease repugnants to come to a deal (which they will because their long only financial accounts would be hit otherwise) and so the drama continues, but nothing really changes nor is solved. When the other members left the administration it's not like things got any better or worse-- it stayed the course which is utter idiotic economic policy.
He has been Obama's treasury secretary.
He should give head to buffalo, at a nickle a herd, for a few years until he earns his self-respect back.
Timmy should be shipped to either Pakistan, Somalia, Syria or Palestine to spend sometime there and if he return then he can sweep the parking lots at MCD.
Fernanda Lessa for Treasury Secretary. If she did anything scandalous, we may not mind it.
How ya like me now
http://www.youtube.com/watch_popup?v=gQD9IaGoLWk
Sprague -Dawleys or Wistars?
Rember Stalingrad, WWII " War of the Rats" fought in the sewers beneath the city-also a good place for a total twerp like Timmy.