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Blast From The Past: "Is There A Risk The US Could Lose Its AAA Rating?" Tim Geithner: "No Risk"
All you need to know (from April 2011):
Peter Barnes “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”
Geithner’s response: “No risk of that.”
“No risk?” Barnes asked.
“No risk,” Geithner said.
Uhm.......
Full clip:
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Send him back to the planet he came from...
Should anybody be surprised why we are having a "situation now" when the toolbags at the helm are oblivious to the obvious?
subprime and AAA securities were also "risk free"
This is just the fact of life. Anybody who tells you there are guarrantees or no risks on something, they're bringing your defenses down, I'd argue for their gain.
Dooh.....
it's painful watching this brillo-headed clown fumble around for verbiage, like a stroke victim with a broken jaw.
trust-funded puke
sounds like a cross between Tom Brokaw and mayor menino
I think the dialogue went like this:
Peter Barnes “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”
Geithner’s response: “No clue of that.”
“YES or NO?” Barnes asked.
“No clue,” Geithner said.
\__
\__
"it's painful watching this brillo-headed clown fumble around for verbiage, like a stroke victim with a broken jaw".
That made me laugh - I'm gonna have to steal that from you ............
Someone should reunite him and his long lost bro..
http://t1.gstatic.com/images?q=tbn:ANd9GcSyFQ_3YJEk-knNxJAuym3ve6krAmfJ6...
Mr. Geithner is there a risk that Santa Claus is not real?
No Risk at all. Berry has assured me.
No Risk at all. Berry has assured me. Ooopsy!
Timmy is aware that all the top execs of the rating agencies have 'guests' from the Department of Homeland Security living with their families. No downgrade.
I think WB needs to add Tim to Planet 0 inhabitants.
I think he was expecting:
Sir, it's a simple question. A baby could answer it.
If you were a hot dog, would you eat yourself?
I don't think he's bluffing. Even Rush said no chance of default.
--You WILL Obey!
http://www.youtube.com/watch?v=dTOcAt44_QA
I believe the question was... will the US be downgraded? What did Rush have to say about that?
He said "Where's my oxycodone?"
It does not matter what Rush has to say about that. All that matters is what the RA's have to say and their opinions are closely held secrets.
Is there risk as defined by the paranoid boo-bears? Yes.
Is there risk as defined by people with their feet firmly planted? No.
--You WILL Obey!
http://www.youtube.com/watch?v=dTOcAt44_QA
ROFLMAO.... boo-bears..... too funny!
Good luck with that no risk!!
"and their opinions are closely held secrets"
Bwahahahahahhahhaaahhhhhhaaaaa. That was a good one.
The rating agencies are agents of Washington. I'd be bettin' the levy will hold.. That is until the Dollar is completely destroyed which at this pace of devaluation wont be long.
This subversive talk about your conspiracy theories is nonsense and will soon be stopped. You can bank on it.
The dollar is being managed in an appropriate fashion given current demand for this asset.
--You WILL Obey!
http://www.youtube.com/watch?v=dTOcAt44_QA
TYLER.... why do you make us beg for an IGNORE button?
You need to implore Sacrilege for that.
Ah, c'mon, the dollar's fine back here on the stern of the Titanic.
It's them Europes on the bow that are in trouble.
We'll be fine...Wait...What? Why are my feet wet & cold?
"Subprime is contained"
+1
Also, "gold isn't money"
You forget such classics as: "I will not monetize the debt" and "I can kill inflation in 15 minutes"
Re: Housing bubble "It's a pretty unlikely possibility; we've never had a decline in house prices on a nationwide basis. ...I don't think it's going to drive the economy from its full employment path though."
(January 10, 2008) "The Federal Reserve is not currently forecasting a recession."
Say What? 30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cryhttp://theeconomiccollapseblog.com/archives/say-what-30-ben-bernanke-quo...
Interviewer: Ben why don't you rape your mother?
Lexmark Ben: Tradition. I don't rape her because it's not customary.
Man, this guy needs no attorneys, his arguments are just fuckin' brilliant.
green shoots on the soft patch
ballsy or just stupid? and we should lose it, we are letting it get out of control and don't behave like a AAA entity.
And what color is the sky in your imaginary world, Timmy?
It's just one big shiny rainbow. And Obama's face is the sun. In other words, it's like an even creepier Teletubbies. Timmytubbies.
It's a double rainbow all the way.
No risk. Just like 2007 CDO's.
Tim thought he meant their American Automobile Association credit rating.... simple mistake to make LOL
The AAA is closer to AAA than the USA
The USA is probably closer to AA. Hi, I'm the USA and I have a drinking problem...
Hi, my name's Japan and I've got debt-to-GDP that will blow your socks off.
So the United States is a half-step away from 12-step? HAHAHAA
So that means we'll have to borrow eleven and a half steps, right?
Winner, winner! Chicken dinner!
Just like an alcoholic can cure his/her addiction with more alcohol, the US can solve its debt problem with more debt. Wait a second here.......
The talk of the use of the 14th amendment really has me puzzled. It states that the debt will not be questioned, however no one is questioning paying back the debt. The question revolves around adding additional debt.
As usual, the document that is supposed to protect the people is being used to subvert the people. People defending any ofthese pricks are either dellusional or on the Federales payroll. Fuck them either way.
AA is for quitters
Clinical study of the entire administration.
It's a stupid way to put it anyway.
Risk = probability x consequence.
Even if the man really believes the probability is nonexistent (i.e. "very small"), the consequence is significant. So the risk cannot be zero.
Idiot.
It's also very cool that this message "there is no risk for default" is actually breaking news. So that means the normal situation (i.e. the one not requiring this "breaking news") is that, well, there is a near-certainty for default.
Ouch.
Yes but this was from April 2011. I wonder how he would answer the question today? Oh,,, never mind. I just realized it would be the same. Silly rabbit, Trix are for kids! Never mind
Things are getting better, getting better all the time.
Next time just put the video in the frame upside down and play the audio backwards; it will make more sense.
Well that's good to hear. Glad we don't have to worry about that anymore.
:)
I'm amazed people still take these credit rating agencies seriously.
It's like companies still wanting Authur Andersen to do audit work for them.
Come on...NOBODY wants to see it all collapse...I agree, no ratings cut.
A lot of "plane crashes" would happen if one of the major raters did cut the rating. Who benefits?
Who benefits? We ALL benefit from the truth.
some would argue, the bandaid needs to be ripped...if not, the slow painful death for everyone continues.
Lies, lies, lies.
These are not the droids you're looking for..
Go about your busines...
Move along...
http://www.youtube.com/watch?v=CnjaUoR15dU
Of course, he would say that.
Amazing how he can disregard what is staring him in face!
Well, someone had to officially deny it. Otherwise how would we know it is true?
That's a relief. I was starting to get worried. But if G-Man says there is nothing to worry about, who am I to question?
Under what timeframe? There is no risk that the U.S. will lose it's AAA rating by tomorrow. Next week? "No comment...."
I want those 7 minutes back.
The reason we are in this mess today is Tim Geithner. That he said these things not long ago proves the point.
There is only one silver lining to the insanity that is now on top of us. Tim Geithner will not be the Treasury Secretary for much longer. He will be gone by the end of the year. It could happen as soon as September.
That would make me happy.
To be replaced by Dimon? No change.
Not the reason, just the facilitator.
"The reason we are in this mess today is Tim Geithner."
Wow you've got the binders on, huh... Nice tunnel vision would you be my investment adviser? Duh!
--You WILL Obey!
http://www.youtube.com/watch?v=dTOcAt44_QA
"...we could live over our means indefinitely..." - Well, I haven't known that the USD can drop below of zero...
He did fail to mention that it would involve a thermonuke war in which all our creditors were simultaneously vaporized.
Stupid comment. -1 4u. Watch what you say.
--You WILL Obey!
http://www.youtube.com/watch?v=dTOcAt44_QA
Timmay, you should never play poker.
Of course, there´s no risk for downgrade. Rating agencies would never dare to do that. They are a part of the bankster mafia that caused this whole mess. And Geithner knows that, as he´s an insider. Sure, realistically, US should have been downgraded long ago, but they just dont care about reality and about sheeple. AAA to infinity and beyond.
"What is this 'Risk' word you speak of?"
Can someone explain to me why the US deserves a AAA rating? What qualifies as a AAA rating? With our debt approaching 100% of GDP, 44 million people on food stamps, 9% "official" unemployment, multiple wars, and 1.5 trillion dollar deficit spending, I cannot compute how we qualify.
its called ki$$A$$...and dont bite the hand that feeds you..aka corrupt!
Two words...TOP GUN.
We have to remember who we are dealing with here. It all depends on the definition of "no." What's that old college saying about no and yes?
NO MEANS YES AND YES MEANS AAANAL
so tim, would you like to bet your life on that ?
Real consequences for being wrong are only for us "little people."
What's more amazing than his lies is our expectation that he wont
Foreseeable future can't come soon enough.
That's for those who say we need government to have some kind of accountability in the marketplace. Last time I checked, Timmy is still pocketing his check...
Should'nt Geithner be in a Hollow Tree making cookies?
"Just a bit outsiiiiide."
Fire the SOB. Today ... not tomorrow.
I don't think Washington uderstands how pissed off people are getting.
Follow Up Interview (coming soon):
Barnes: "Mr. Secretary. In light of the recent downgrade, would you care to comment on your previous statement?"
Geithner: "Umm, I didn't say the US could be never be downgraded. What I said was there is 'no risk' of that. You see, US Treasuries are still as risk free as ever."
Barnes: "Then why the downgrade."
Geithner: "Beeeeecause the ratings agencies don't know what they're talking about?"
Barnes: "Tim."
Geithner: "Beeeeecause AA is the new AAA?"
Barnes: "Tiiiimmmmm"
Geithner (hangs head): "Because I thought I'd be long gone before this happened."
Barnes: "Thank you."
TIMMAH!!!!!
Look, you just have to think like a sneaky little shit. There is no risk of default at all until default HAPPENS, then it was 'baked in'.
Next up, he'll use that notorious quote from his European brethren: "When things get serious, you have to lie."
Of course they will keep their triple AAA rating. According to S&P , and the othe major firms. Especially when big brother is involved. I really can't stand to look at his weaselly frat boy face. It's like the treasury is being run by a Disney character.
Hey...
"The US is committed to a strong dollar policy" - GW Bush, Timmy Geithner, Obama, Hank Paulson, you name it. (insert Chinese student laughter here)
There is no appreciable inflation. - Ben Bernanke
The fall of the Mark has nothing to do with the printing of money and is directly attributable to the currency exchange." Weimar Germany's party line
"“Global imbalances have little to say about the patterns of global intermediation behind the credit boom and the transmission of the turmoil or about the determination of market interest rates,” write Claudio Borio, a Bank for International Settlements researcher, and Piti Disyatat, of the Bank of Thailand."
http://blogs.wsj.com/marketbeat/2011/07/26/bernanke-was-wrong-about-a-sa...
Writing a paper to disprove nonsense is just taking part in the game...
First they(Obama) tell us the sky is falling and we are on the verge of destruction then Geithner says no chance our AA rating goes away...these ass clowns can't even lie good!
Do not try to manage your risk...that's impossible. Instead, only try to realize the truth: there is no risk.
Tis but a flesh wound!
pods
Ah, the difference 9 1/2 weeks can make. Timbo souds so confident. "Let's not wait until the middle of June {to raise the debt ceiling]" he says... what I want to see is the same interview, in the same room, today, and the two videos side by side. Now that's entertainment!
He was hired to Lie. That's his job. Like his tax return, he's just not very good at it.
***BANIA'S JOKE OF THE DAY***
"65% of people say that cheating on your income tax is worse than cheating on your spouse. The other 35% were Treasury Secretaries."
The numbers seem legit.
Cheat on your taxes and you will get dick cut off.
Cheat on your spouse and you might get your dick cut off.
Fuck with the TSA and we'll rip your dick off and feed it to the fucking spinning turbines!
.
--You WILL Obey!
http://www.youtube.com/watch?v=dTOcAt44_QA
I have visions of Krugerands and the words "Diplomatic Immunity" keep ringing in my head for some reason.
Come on guys, give him a break, he's just honoring the constitution.
"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."
http://en.wikipedia.org/wiki/Fourteenth_Amendment_to_the_United_States_Constitution#Text
To borrow a phrase from ZH:
On a long enough time line, the survival rate of the dollar and other paper drops to zero
You can "bank" on it.
Further, why would anyone even ask such a question to Timmah? Does anyone actually think he'd tell the truth?...geez
Aren't credit ratings a decision for the rating agencies to make?
Oh right, I forgot who controls the rating agencies.
I'm not 100% on this, but I'm pretty sure that "Geithner" translates from German to "dickless weasel".
"if you listen carefully" "if you look carefully" you hear and see a lying sack of shit.
"lock in some reforms"? the first step would be to indict Timmy et al. Unwind the markets. And then someone may utter the word "reform".
"you don't want to call into question the creditworthiness of America" -- too late you lying sack of shit Timmy boy!
This guy is lucky to have a job. Such arrogance and so utterly clueless. This was just a few months ago. It's not like it was years ago that he said that.
To those that would say, "what could he have said", I submit that he could have said, "Yes, it's entirely possible that the United State's credit rating could be downgraded, anything is possible. It is important that we tackle our deficit and begin to pay off the significant amount of debt we've accumulated over the past 15 years."
The pointless Dagong should look a little closer to home for some downgrade action.
Tim n co already know the outcome of this ceiling debate. The current pantomime will merely allow its passage.
Ah...another worthless quote from the keebler elf
Timmay, you're fired.
http://radioactiveliberty.com/wp-content/uploads/2011/donald-trump-youre...
Why are you all upset? Remember, when things are 'this serious' one 'has to lie'.
:-)
"growth strategy"
I have news for you timmay...peak oil is going to be jammed up your "growth forward" ass.... sideways.
a ten year plan? riiiiight...in tens years USA will look a lot like North Korea...or worse
what a sham
This scum should be thrown in jail for treason - When shit hits the fan he will be on vacation at an undisclosed location issuing a statement "Remember, we inherited this mess". -- unreal.
timmy is a thoughtless robotic shell of an idiot and the reason he probably does it, is for the same reason colin powell did it. Why they all do, crony nepotism in positions of power. But eventually their kids and grandkids will meet our kids and grandkids and the rest writes itself.
Those Poor Bankers are just going to have too make that much more money!
America is a Mo Betta Risky! Up the interest! Payments!
Sux to be a Banker!
Thanks Washington DC!! the Lobby Check is in the Mail! Dont forget our Subsidies!!
Sure his insight into matters are as profound as his welcome to the recovery op-ed last year.
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