Blast From The Past: "Is There A Risk The US Could Lose Its AAA Rating?" Tim Geithner: "No Risk"

Tyler Durden's picture

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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Mongo's picture

Send him back to the planet he came from...

TheTmfreak's picture

Should anybody be surprised why we are having a "situation now" when the toolbags at the helm are oblivious to the obvious?

the mad hatter's picture

subprime and AAA securities were also "risk free"

TheTmfreak's picture

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.

clymer's picture

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

Divided States of America's picture

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.

Taint Boil's picture

\__

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"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 ............

DaveyJones's picture

Mr. Geithner is there a risk that Santa Claus is not real?

BurningFuld's picture

No Risk at all. Berry has assured me.

BurningFuld's picture

No Risk at all. Berry has assured me.  Ooopsy!

DeadFred's picture

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.

Scisco's picture

I think WB needs to add Tim to Planet 0 inhabitants.

Cvillian's picture

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? 

TSA Thug's picture

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

gmrpeabody's picture

I believe the question was... will the US be downgraded? What did Rush have to say about that?

Temporalist's picture

He said "Where's my oxycodone?"

TSA Thug's picture

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

gmrpeabody's picture

ROFLMAO.... boo-bears..... too funny!

Good luck with that no risk!!

r101958's picture

"and their opinions are closely held secrets"

Bwahahahahahhahhaaahhhhhhaaaaa. That was a good one.

Hearst's picture

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.

TSA Thug's picture

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

gmrpeabody's picture

TYLER.... why do you make us beg for an IGNORE button?

Fascist Dictator's picture

You need to implore Sacrilege for that.

Esso's picture

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?

Xibalba's picture

"Subprime is contained"

LRC Fan's picture

+1

Also, "gold isn't money"

101 years and counting's picture

You forget such classics as:  "I will not monetize the debt" and "I can kill inflation in 15 minutes"

Temporalist's picture

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."

 

Temporalist's picture

(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 Cry

http://theeconomiccollapseblog.com/archives/say-what-30-ben-bernanke-quo...

Cash_is_Trash's picture

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.

sumo's picture

green shoots on the soft patch

oogs66's picture

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.

Turd Ferguson's picture

And what color is the sky in your imaginary world, Timmy?

-Michelle-'s picture

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.

Scisco's picture

It's a double rainbow all the way.

tooktheredpill's picture

No risk. Just like 2007 CDO's.

Dreadker's picture

Tim thought he meant their American Automobile Association credit rating.... simple mistake to make LOL

SilverIsKing's picture

The AAA is closer to AAA than the USA

Fish Gone Bad's picture

The USA is probably closer to AA.  Hi, I'm the USA and I have a drinking problem...

Cash_is_Trash's picture

Hi, my name's Japan and I've got debt-to-GDP that will blow your socks off.

Dr. Richard Head's picture

So the United States is a half-step away from 12-step?  HAHAHAA

Esso's picture

So that means we'll have to borrow eleven and a half steps, right?

Dr. Richard Head's picture

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.

Everybodys All American's picture

Clinical study of the entire administration.

PeeTee's picture

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.

PeeTee's picture

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.

indygo55's picture

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