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Despite Calls For His Head, Geithner Tells White House He Is Staying
Following a flood of demands for the head of Tim Geithner on a silver platter, the head of America's one-ply paper issuance and tax evasion department, has just told the White House he is doing the wrong thing (of course) and not going anywhere. "Treasury Secretary Timothy F. Geithner, a central figure in the U.S. government’s bailouts of Wall Street banks and efforts to raise the debt limit, told President Barack Obama that he intends to remain in his job, according to a Treasury Department spokeswoman. “Secretary Geithner has let the president know that he plans to stay on in his position at Treasury,” Jenni LeCompte, assistant secretary for public affairs, said in a statement today in Washington. “He looks forward to the important work ahead on the challenges facing our great country.” Translation: goodbye foreseeable future. The only good thing is when the house of cards collapses (pretty soon at the going rate) Tiny Tim will be at the very top, and serve as the focal point of all accrued (if somewhat sharp, stainless steely and quite stabby) public "admiration."
From Bloomberg:
Geithner, the last remaining member of Obama’s original economic team, made his announcement after months of speculation over his future. He told White House officials this year that he was considering leaving once a deal to raise the nation’s borrowing limit deal was reached. Obama signed an increase in the limit on Aug. 2.
His decision allows the administration to maintain continuity in economic policy at a time of investor concern that the two-year-old expansion may be stalling and after Standard & Poor’s cut the U.S. credit rating for the first time. The S&P 500 Index of stocks slumped 7.2 percent to 1,199.38 last week, the biggest weekly drop since November 2008 and the lowest level since Nov. 30, 2010.
Geithner’s challenges for the rest of Obama’s term include reducing unemployment, overhauling the housing-finance system, working with Congress to further cut the budget deficit and helping European leaders contain their debt crisis.
Of course, the unspun truth is that there is nobody, in either the public or private domain, stupid enough anywhere to take on Geithner's job. Which of course means the US economy is about to unleash its 5% annualized GDP growth rate for the next 10 years... Or maybe not.
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TiMMay!
and Obama thought his weekend couldn't get any worse
His Weekend is going as planned. He is elated about the latest downgrade! Alinski, right on schedule. This piece of evil could care less about you or I. His goal is Economic Collapse. His policies drive us there. Yup, Everything going as planned... Also, get ready for a few other things, not yet thought of ...This is going to fun Sheeple.
"They took ma rings, they took ma rolex, I look to the homie to say damn what's next?"
Here's what's next:
http://azizonomics.com/2011/08/07/is-corzine-next/
Corzine, bitchez
I would like to literally see his head roll along with Hank Paulson's, Alan Greenspan's and Ben Bernanke's. Set up a guillotine in front of the FED and Treasury building and drop a rusty, dull blade on their necks (one that would take three or four drops to cut through).
wtf difference does the Treasury Secretary make? He doesn't set the fiscal policy nor propose budgets nor pass them.
Fire the Congress and Obama
HYPOTHETICALLY): Good post though!
The Treas(on)ury Secret-ary just so happens to be an IMF governor who doesn't collect a salary from the USG, bitchez.
http://ppjg.wordpress.com/2009/03/24/treasury-secretary-does-not-work-fo...
Google is your friend.
He's still sleeping his birthday party off.
The booze, coke and hookers took a heavy toll on him this weekend.
And why replace Geithner? He's the best of the worst screwups Obama has!
I wonder if N'Obama (or anybody else) has a choice. I'd bet that Tiny Tim's "decision" to stay or go is made by "others".
"And why replace Geithner? He's the best of the worst screwups Obama has!"
The country is in the very best of hands.
At least we'll know where he is.
head.
silver platter.
tee hee
Geithner should do the right thing and "Kill Himself!" Just saying....He looks like a Monkey Fucking a Football! He makes US Government look even worse than it already is. Of course next to Obummer, Geithners' a Saint.
There's a reason for that. And the American people are the football.
He still has important to to do! Like destroying America!
yup, and they state this as if it's something to be proud of:
"Treasury Secretary Timothy F. Geithner, a central figure in the U.S. government’s bailouts of Wall Street banks and efforts to raise the debt limit..."
sigh...
I'm not a fan of stainless steely -- tool steel makes better knives. A2 for me!
52100 steel for me!
SV30...for knives, not sure about bearings...
52100 is a 1% carbon steel withe a teensy amount of chromium. It is a hard and tough steel, but not very corrosion resistant.
A2 rocks. But not all stainless is created the same. H1 is pretty amazing stuff.
<--- Is carrying VG10.
I smell a margin hike in gold futures coming!
Is it tax season yet.
Hang yourself Timmah!
OT
Tyler, thank you for creating and maintaining ZH.
Being at ZeroHedge is like being at the right place at the right time.
Hope the ZH servers can handle this week!
I guess Goldman doesn't have his successor lined up yet.
He's got nowhere else to go - Goldman is cutting costs.
Tyler Durden, Do you plan on giving any explanation to your readers regarding this story-----> http://screwtapefiles.blogspot.com/2011/08/bear-necessities-of-silver-li...
?????
Didn't know he owed an explanation Ted..not to me anyway.
I read, digest and draw my own conclusions. Howabout you?
Let's see now: Brian O'flannigan, Kid Dynamite, Jeanne D'arc (whoever the fuck that is) have just made many a surprising (sarc) comment and world shattering expose` that the guys who run SGS have a bias towards gold and silver. Jeanne found it conspiratorial that the 3 bears vid found its way to the pages of ZH. Funny that. You three or four subscribers to to the screwloosefiles blog spot, need to take those tin foil hats off and stop being so paranoid.
“Secretary Geithner has let the president know that he plans to stay on in his position at Treasury,”
Now what position is that... Bent over a table? On all fours?
Not to worry, Barry has his rear, uh, his back.
I am sure there will be no reach around.
Hasten the Collapse, OBAMA 2012
LOL!
He's got nowhere else to go - Goldman is cutting costs.
Guillotine Bitchez!
Lets see what the Asian Markets have to say tonight about Amerika. I don't think Bernanke can print/type money fast enough to save the "WORLD" from excessive Socialism and Debt. Just because a government official (I like servant better) says their currency is stable and fully backed; doesn't mean shit to me. PM's spit with defiance in their face!!!
TOOL
Does that mean he's leaving?
Guillotine Bitchez!
Grand Jury Investigation next...
That ought to do it. We are going to need some charts that have a much larger X axis. These rectangles on their sides just aren't going to work any more.
"Treasury Secretary Timothy F. Geithner, a central figure in the U.S. government’s bailouts of Wall Street banks and efforts to raise the debt limit, told President Barack Obama that he intends to remain in his job, according to a Treasury Department spokeswoman."
Holy Jesus H Fucking Christ on a Crutch.
Stone Deaf
Fucking Stone Deaf.
The market (what Knukles thinks is imaterial to this point) thinks that Mr Geithner is a disaster.
The market believes his role in the bailouts and debt managemant has been less than satisfactory for a man in such a position. When in fact, much of what occured about him was not of his making or under his control.
To cite those activites as positives by Treasury is..... disturbing.
DC is stone deaf.
Spot On
We are 'led' by crones, cretins, clowns and crooks... Govt staff in a nutshell
Got any suggestions?
He would be foolish to step down now -- would definitely look like the downgrade fall guy and pin blame on the Administration as they try to defect blame to conservatives. He may have a window to step down in early 2012.
Everyone needs a good reach around-where's the soap?
"Of course, the unspun truth is that there is nobody, in either the public or private domain, stupid enough anywhere to take on Geithner's job."
Timmays the man for the post of 'Stupid'... elite educated, an entire career spent in the chaotic, pig-ignorant, calamity zone that is public sector, he was born to be an institutionalised crone (moron)
"Geithners challenges inculde reducing unemployment, overhauling housing finance, working with Congress to further cut the budget deficit and helpin European leaders to contain their debt crisis"
Yes and what a fuking good job he's done all 4 topics til now... i fail to see how Tiny Tim can help on the budget cuts when all he's done is bleat and shill across the media how the US Govt needs a bigger credit card to help his very own 'unsustainable' budget to balance! Haven't you got the wrong end of the stick retard?
Keep on 'winning' Timmay, i'm sure you'll turn it all around real soon even if it looks like you've been a remarkable failure on everything you've applied your magic touch to to date
Isn't Geithner just basically the accountant/check writer for the executive branch? As far as I can tell, his primary role in the debt ceiling debate was to say "hey guys, you have all these bills and the checks are going to bounce if we don't get more credit."
To blame any of the US debt fiasco on him seems absurd. It's the dumbasses who keep wannting to spend more money than they are willing to earn (or in the government's case, raise through taxation). Geithener has nothing to do determining U.S. tax levels or spending levels, does he?
Talk about shooting the messenger . . . it's congress and the executive branch as a whole (but primarily congress) who's responsible, not the guy who ultimately has to distribute the funds to carry out their orders.
the "dumbasses who keep wanting to spend more money" are backed up by our institutionalised moron (that'd be Timmay) who goes out on the media trail to argue the US Govt needs a bigger credit card to keep up the spending right? ...and bleats the US credit rating is at risk if the bloated budgets don't continue right? The same moron that said the USA's AAA rating was "not at risk" right?
The very same rating that's now AA+ post budget deal, post downgrade Tiny Tim said could never happen ....this life-long public sector toadies judgement is impaired (ie. he's a f'n retard). He would have been sacked years ago if he worked in a commercial organisation
Rumor is, he is giving a press conference later in which he will reiterate his support of a strong US dollar policy.
Why are they just asking for Geithners head? How about Ben Shalom Bernanke for his wonderful toss trillions of dollars down the rabbit hole idea!?!? How About the commander and turd Obama for his lack of leadership, poor decisions, and ruin America forever healthcare plan??? If you find a wasp nest in your yard do you just kill one and leave all the rest? You want to resolve the problem you need to get rid of them all.
i'll take you on, here, tyler.
somebody, a politician, in indiana (?) called for timmah's head, and YOU jumped on the bandwagon. several z's questioned your call, at the time, on that string, including yers trooly. [The Official Calls For Change Roll In: "Fire Geithner"]
i'm no fan of any bankster, but YOUR reporting is now overlooking the fact that he announced that he might leave b/c his son was enrolling in a nyc high school, and now timmah has decided, for whatever reasons, not to leave the job @ T.
when you ragged on him for "stealing the pensions" i defended him, pointing out that he was simply managing his accounts to ensure continuity, which is his fuking job, even if he is an asshole bankster.
and, when you questioned why he had failed to preserve ~~ $10 Bil in "debt ceiling" i did not object. what was he thinking there? but, you failed to address whether he could re-gain the $10 Bil ceiling or not, and if so, how, as far as i saw, at least.
i did not agree with his rants for the debt increase. he would not have spoken that way if he were working for slewie. but he does not work for slewie, or tyler. he works for prez0, who did not contradict him, to my knowledge.
speaking of doing one's job, congratulations to zH, which too a site which was functioning pretty damned well imho and "fixed" it, so that it no longer works even 1/10th as well!
way to go you guys! altho i'd hate to be unfair, and i do.so.hope. you now get it fixed. really. good luck!
Timmay is "just doing his job" raiding public pensions is he? I'd like your 'rationality' if it wasn't coming from your rectum
Tresurys role, and Tiny Tims, is not just to balance the budget, which he doesn't do because even by his own admission they're "unsistainable". Tiny Tim should have the integrity (accuarcy) to make his own judgements and oversee the US Govts financial management. That would include making a stand against fiscally irrespnsible spending, fiscally unsound budgeting and protecting the US's credit rating
Instead Timmay has bent over backwards to allow the US Govt to continue its suicidal path. He's even gone on a media blitz to argue for an extension to an already moronic debt load. And smattered the robbery of public pensions (replacing real money with debt money which is a massive fuking scandal in itself) with the words 'legal' and being 'authorised under Law'.
At every stage this spineless little oik has bent over backwards to placate the fiscal suicide of the US Govt. He is NOT doing his job, he is being a slippery little shit and an epic crone
you seem to have bought into the idea that he "raided public pensions" but is that really true? i do not think so. but you are certainly free to PROVE it, if you are able.
perhaps you nave never been resopnsible for a business and "adjusted" your accounts to provide ample cash flow to a time in the future. that is all he did. he worked with his accounts till August 2, then restored them.
so, you did not get the propaganda you are spouting from my rectum, so it must come outa somebody else's.
also, you write: Tresurys role, and Tiny Tims, is not just to balance the budget, which he doesn't do because even by his own admission they're "unsistainable".
listen, friend: you seem to not understand how the US goobermint works. perhaps you did not attend a high school in the USA, or perhaps you missed that class, or were busy thinking about rectums.
so, this must all be very confusing to you, as it must be to nearly everyone who does not understand the constitution and what the branches of goobermint actually DO. Treasury's role is not to balance the budget. not even close.
to summarize, not one penny is missing from any public pension; and, the Treasury does not balance the budget. you are factually incorrect X2.
again, i am no fan of any bankster, but i do not make up stuff that is not true about any of them (i hope) either.
and, if someone else makes up something, i, like many others here, know enuf of the score to know bullshit, even when tyler is spouting it.
Bravo Stewie, well said. Except, there aren't enough hours in the day to correct every bit of disinformation here, or anywhere. Nevertheless, I, for one, applaud your efforts. Unfortunately for all of us, even though Treasury does not have the authority to balance the budget, no body has that authority.
t.y., 12th!
the reason i take the time is that i have a lot of respect for how zero_G runs these same boards and strings.
if i'll take his back, i might as well jump in his shit when we piss each other off, at times.
hey, zero_dude!
i can't stand timmah, in many ways, just like you. i didn't groove to his gig @ the NY FED under greenspan & ben.be (& paulson) and i don't care for his "politics" right now, any more than you do.
but, he is neither the chairsatan nor the prez. he's not in charge of anything! like all cabinet members, he serves at the pleasure of the President. that's really his job. he is directly under prez0.
the benzelbub is not. the FED is independent of the elected shitheads, at least on paper, ok?
so, in his last 2 jobs, he has not called the shots, but been a general on the field and now he has enuf stars on his epaulettes to run the US Treasury. as i mentioned in my first post, prez0 didn't contradict anything he said. so, even tho i puke on his politics, i still respect him, so far, as a general. in my mind he has run the T in a capable manner, given the threesome he tees it up with, ok?
also of the three, i would think the chairsatan actually may have a deep love for his country. deeper than timmah, and yes, try not to laugh, there, abt 0, but that's is opinion. i can draw you a picture of timmay working for prez0 with benzie on the side. so, whether you think prez0 or the chairdemon is the world's most powerful dude, timmah either works for #1 or #2, imo, and would be lucky to make the Top 50 on the world pop power chart.
russia and china who, with the europeans, went ape-shit about our "responsibilities" to raise the debt ceiling, are now thoroughly pissed and screaming that this is unfair b/c we have the "reserve" currency and we can do this and that blahblahblah. but as far as the banksters, or our top politicians go, i ain't hearin a peep. from them.
i got better things to do than mount a campaign against a guy in our goobermint who is actually doing a decent job, in my opinion. the fact that i don't like him and what his "side" stands for, for the future of america, does not mean he isn't a capable bankster. the Treasury Dept. will be ok under him, i would think, from here.
of course, this is a straw man, to me at this point.
Were you a laywer for the Nazi's at Nuremburg??
L0L! no, but they had very good lawyers, so i'll take that as a +
albert speer was locked down pretty tight in the nuremburg prison, as a top nazi, an architect who knew engineering ok, also, and he wrote some great stories about it, too. he served a 20-year sentence and got outa prison in 1966.
With CORZINE waiting in the wings, who cares?
"I'm staying" means "I'm leaving as soon as I get my GS contract finalized".
He will play the Judas Goat. Note how quickly he came up in MSM headline articles after the downgrade.
$1000 says he resigns or is fired, is in any event and by whatever means OUT by August 31.
geithner staying? no risk of that.
Tim Geithner - the Charlie Sheen of Economists.
Apologies to Charlie Sheen for bringing him in on this - he's just addict after all.
The world is in a depression, it just hasn't reached DC and NYC .. yet. A few thousand point of the Dawg will take care of that.
My overall theme has been a decline to dowg 10,500 and then crash from there. Don't believe the wide held view of a "Bounce" from "support" @ that level.. not going to happen.
And the WSJ just added a pol, should he stay or leave. 84% said No. Which means Barry will keep him because he does just the opposite of what the people ask. Makes sense that miners should start to move higher....but since when did this market make sense. At some point they will rock. Just stay off of margin.
1/
Learn why America's younger generation has no Protesters! Eight Reasons Young Americans Don't Fight Back: How the US Crushed Youth Resistance """The ruling elite has created social institutions that have subdued young Americans and broken their spirit of resistance....."""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011_01_01_archive.html
2/
Experts: Fukushima 'off-scale' lethal radiation level infers hundreds of millions dying.
"""Fukushima nuclear power plant radiation recordings of external gamma radiation have been so high this week, they went off scale said veteran nuclear expert Arnie Gunderson on Thursday after the famous physicist, Dr. Chris Busby told the Japanese people this week that radioactive air contamination there now is 300 times that of Chernobyl and 1000 times the atomic bomb peak in 1963, possibly inferring that hundreds of millions of people are now dying from Fukushima radiation, including people in the United States...."""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/experts-fukus...
OT: hilarious 2 min video upside down...
http://www.youtube.com/watch?v=W0Uju3tYS2s
careful timmy they have been known to assist suicide
CHANGE YES WE CAN
MLK, Gandhi, Mandela
VOTE
Fuck MLK, Gandhi, Mandela ALL. May they rot in hell where they belong.
Will his base annual comp from The Squid be under/over $20 million per year after his exit from the Teleprompters Team?
I'll bet Pimco and Gross will be selling treasuries at the open. *Queue sinister laugh. Muhuhaha
I need some [ DR> EVIL<] aka Fat Bastard!
I was managing an American subsidiary of a successful large US Company in Mexico. It had been a financial turnaround for our team. Cash flow had accumulated in our bank in Mexico and corporate didn’t want the money repatriated to the US. Although we had already paid a 35% income tax to the Mexican government, we would have to pay an additional 30% exit tax to repatriate the money. In addition, we would have to pay high fees for the peso/dollar exchange, in order to make the transfer. The company wanted to expand our successful business and so we decided to keep the money in Mexican pesos to be used for further expansion. One morning, as my wife and I were on a trip driving on the highway, we heard a national message from the President of Mexico, Luis Echevarria, one of the most corrupt presidents in Mexican history. “It is a lie that we are going to devalue the peso,” he said.
Read more
http://lonerangersilver.wordpress.com/2011/06/20/living-through-a-curren...
“He looks forward to the important work ahead on the GREAT challenges facing our ONCE great country.”
More sound bites about our banana republic. As long as 90% of the elected officials are still in their position of power, it doesn't matter who is US Treasury Secretary because the post and all the 90% posts are simply bought and paid for positions by the world's biggest corporation, the >1.5 trillion dollar privately owned Federal Reserve Corp. As long as the crimes of our public officials who pushed the bailout are not named and they are not prosecuted, we will be in eternal debt hell, imposed by the makers and beneficiariesof the mess.
BTW, how would it hurt the country, to REDIRECT municipal lending from the toocorrupttofail banks to rolloever all debt at 1%--this would be huge for our country; this is what SHOULD have happened when paulson/bernake were lobbying/telling lies to us in 2008when they told us they would NEVER let the banks be socilized...instead, we are in debt forever for banks that got free money annuitized forever from the taxpayer, and the toocorruptofail borrow for zero, then roll the muni debt to higher rates, and hold back lending while they increase their reserves with free money, buy treasuries, make interest and use the treasuries to run up the stock market for pretend wealth creation? ALL this cost to our country's national security could have been prevented by ONE DAY OF HONESTY from paulson and bernake, asking for the authority to unwind the corrupted, broken toobigtofail, and create a treasury facuility to keep lendin flowing to all of us, including municipalities at 1%...the toobigtofail is a lie, and this middleman corrupt entity sanctioned by law, the Federal Reserve Act, needs to be revoked. Let the banks get sold to the highest bidder, and let's barr the influence of the cartel from our legislators so we can get back our country and regain the integrity of our currency, our reputation which is represented by our dollar.
( Apologies to old ZHers, for my broken record policy, but i repeat the same things regularly for anyone who might be reading this and who doesn't already know)
https://picasaweb.google.com/lh/photo/v8O8cLYNskMCIEBDART16Di_gDcTJptyZC...
Never mind Timbo, there is always the conveniently fabricated health-scare.
Just watch for that ingrowing toenail, they can be quite problematic.
one can picture timmy stomping around his office singing: http://www.youtube.com/watch?v=Gx1SWS1MFbU
Geithner staying on--yawn Don't ya know, in DC you can only fail up?
Wait!!!!
Can the White House even find enough physical Silver for a platter???
Better call Jamie for help with that...
Timmy orders POTUS to sit down in the corner and be quiet. Shows who is the Real Bossman.
Prediction # 1.
the stock market will crash Monday but recover by Friday after the BerNakee announces Q3.
I find it interesting that there is no coverage by Tyler Durden of the Navel Seal Team that got shot down. All 30 of them .
Same seals that got Bin Laden.
Tyler how is that for Statisical?
And very little coverage on the US downgrade, on your sister channel Tyler!
And of course Matt Drudge is there taking a real time poll as to what bs they buy more of on behalf of the gov.
Matt Drudge is the feedback mechanism for George Soros "theory of reflextity
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