Geithner On Backup Plan: This Plan Will Work

[llothar68]

Do didn't work so where is the backup plan Timmy?

[masud905]

The Back-up Plan - what a awesome movie, watch this for free on - moviesnewrelease . c o m

[ptangboy]

Liar.

[MrDeathmetaldrummer]

more Rhetoric.

Im tired of it,  "ARrr it's not about ability it's about will power"

stock up on beans bullets and beef jerky

[ifc6969]

I didn't realize that capital just comes out of thin air.

[Chewy240284]

*crooKs*

[sreign1]

Government is instituted for the common good; for the protection, safety, prosperity, and happiness of the people; and not for profit, honor, or private interest of any one man, family, or class of men; therefore, the people alone have an incontestable, unalienable, and indefeasible right to institute government; and to reform, alter, or totally change the same, when their protection, safety, prosperity, and happiness require it.

John Adams

[DONEwCA]

Obama INDICTED by 'Common Law Grand Jury' in Georgia !!!!!!!!!!!!!!!!

see: worldnetdaily - On-line news March 31, 2009, and do your Google search strings. AOL picked it up.

Why can't this smooth talkin sitting President turn over his real birth certificate ?

[chashek]

you do realize that anybody who does even a modicum of research on worldnetdaily probably won't trust it at all, right?

besides which, since you're referencing the AOL article, you clearly didn't read it, since it's ridiculing the very concept of a common law grand jury, since the amount of power that it holds appears to be... (drumroll plea~se)

a grand total of absolutely nothing!

[chashek]

and hey, i'm a pretty open guy about things contradicting popular views (ie. obama = awesome), which is why i actually googled the things that you referenced...

but seriously, if you're going to try to discredit the guy, please cite sources that can seem credible at *least* at first glance, will you?

(all this was directed at DONEwCA, btw, since youtube doesn't seem to like showing replies as replies until pg 2 of comments or further)

[razormy]

My friend DONEwCA, you are a tool!

[nonameposter]

Extremism is bad: Look at communism, look at free market capitalism. They are utopian ideologies that dont work in practice. We need a mixed economy!

Of course the state has to act now, since the economy is going to fuck up if it it does not. But when the banks are to big to fail, when the state takes their risk, then why not the profit? In the last decade we have privatized many banks...we should stop that!

[dkkght]

Obama takes over GM-Anyone remember the last AUTO a government had anything to do with??? Answer, THE YUGO We all remember the SUCCESS that venture was Favorite joke at the time Do you know why the YUGO comes standard with REAR WINDOW DEFROSTER??? So your hands wont freeze when you push it

[BeantownJim]

Maybe if he paid his taxes we wouldnt be in a fix like this hahaha

[porche75]

he can pay my taxes. I didn't cause the problem, he was the head of the NY Fed and he caused it. He should pay for it. I'm innocent.

[dkkght]

First financial collapse then come food shortages.

[beeshor1]

The bottom line is this must work, it has to work or it's all our asses. All the sideline bitching and economy lessons does no good.

[PainlessTragedy]

If we do nothing, we deserve the enslavement. You will never be alone (UNITE) and (FIGHT) obama is passing legislation without congress approval soon on gun taxes for ammo 500% and he's taking away Assault Rifles, SMGs, 50. Cal 50 BMG 7.62X39, buck shot Guns & Ammunitions and many others - It's the ENDGAME people (FEMA CAMPS, Glenn Beck said they haven't been Debunked yet) Legislation Bill HR 645!!!!! holy Hell it's the End of Times we are living in!!!!! I can't believe this!!!!! It's all REAL

[beeshor1]

You sir, are certifiable.

[dkkght]

All the ammo shelves at the local Walmarts are empty! Why? Well if you cannot see the signs than you are blind and deserve what is going to happen. If you are smart than you know what you need to do.

[PainlessTragedy]

New World Order is no Longer a silly madeup Conspiracy, It's REAL, How do we 100% know Obama is not the Antichrist???? He's compared himself to JESUS and I quote "Reguardless of what you might have herd, I was not born in a Manger...I'm for the Resistance!!!!! REVOLUTION 09!!!!! SPREAD THE TRUTH BEFORE THE TRUTH IS INFECTED WITH THE PATRIOT ACT BILL, TRUTH IS CONTAGEOUS...You want CHANGE, I say stop watching the government regulated media, I say CHANGE the Channel...GO NOW AND BUY GUNS AND AMMO!

[insatiablegenius]

Pinocchio is a champion of lies and corruption.

[dkkght]

It is obvious he cannot think straight. The US SecState is in favor of screwing the dollar? What an idiot. Resign now

TurboTax Timmy! Obama needs to buy Timmy his own teleprompter looks like that is the only way to keep his foot out of his mouth And remember this is the Only Treasury Secretary that can fix all the economys problems...You think they are all buffoons? Nope they have a plan. Why do you think so many treasury nominees are walking out? Michelle punked Timmy.

[insatiablegenius]

Secretary of Treasury not state :p

[dkkght]

I apologize, I am getting all these idiots mixed up.

[dkkght]

Typo

[IOIOIOIOIOIOIOIOIOIO]

"Rep Barrett, let me talk to you about the power of positive thinking"

[nonameposter]

it is your fault. you thought the market would regulate itself

[fungulotualatuarazza]

our back up plan ,FEMA camps

[Civsuccess2]

McCain Plan: 100% risk exposure

Geithner Plan: 75% risk exposure

[everst]

i'd rather AIG have a printing press than the government to be honest.

[WallStreetMarketNews]

BARACK OBAMA LIED!

Obama Plans G20 MEETING for ONE WORLD GLOBAL CURRENCY TO REPLACE U.S. DOLLAR!

Watch the chilling videos at this site:

wallstreetmarketnews.blogspot(­DOT)com

THE WORLD MUST FIGHT THIS TYRANNY!

Spread the WORD! ===---

[HabitualNightOwl]

I'm giving Geithner a fair chance. My god its been less than 40 days since he's been appointed people need to wait.

He's recently proposed a massive Expansion Of U.S. oversight of the financial system. Finally some regulation and safeguards can be placed on these banks and big companies.

[everst]

"will power broad ability bold action confidence small business liquidity" ... sounds good to me!

[eastwood13]

I have a back up plan too, terminate every single one of them and start over!

[therealcaptobvious]

put every penny of that bailout money back into taxpayer's coffers.

The derivative market was a few Quadrillion dollars. The net worth of US households is "only" $50-60 trillion. The net worth of planet earth is "only" $100 trillion. These toxic assets are a "black hole". Economists are calling it out, there will never be enough taxpayer money to secure these fraudulent CDO's.

So... suspend the mark to market rule to get loans to businesses, let them write off losses over time.

[Imagitv]

Interesting that the Rep's don't even have a plan and yet and they want Geithner to have a back up.

[nonameposter]

It makes me so sad, seeing our american brothers and sisters follow the crazy ideology of free markets without any control. Look at the housing market in GB, Spain and US and compare for instance Austria, that has a very socialst approach on that area of politics. Please read Stieglitz!

[pdxeddie1111]

uhhh what? Interpretation get out of USD

[climbsolo]

There is no backup plan guys, it's way past that time. Ron Paul had a plan and was laughed off the stage. That was the ONLY viable plan, according to the laws of economics, that could have worked. There would have been short-term pain, but, the long-term benefit would have been there. Now, we have no choice as to the direction this country goes. God help us all.

[nonameposter]

Ron Paul loves Hajek, Mieses and "the Austrians", the ideology that brought your country into the mess it soon will be. The US needs strong regulation, taxing the rich, investment in health care, schools, infrastructure, things that help the poor and stronger support for the poor whose consum is the fundament of an economy. Do not believe in free market-extremism!

[climbsolo]

What a load of crap. We haven't had free markets in the US since the late 1940s. The reason the housing bubble got as big as it did was because it was REGULATED that fannie/freddie HAD to support a "everyone should own a house regardless of whether they can afford it" mentality - a very socialist ideal. Now, the ones that truly suffer are those that were responsible and had good savings, because hyperinflation is on it's way, due to arrive late summer or early fall. Communism is extreme.

[CarryANation]

"fannie/freddie HAD to support a "everyone should own a house regardless of whether they can afford it" "

What utter BULLSHIT, you have no idea what you are talking about. CRA loans (what you are talking about) are defaulting LESS than the NINJAs, Jumbo primes, etc.

Besides - it was the Credit Default Swaps and Naked Short Selling that caused this crisis. If all subprimes had defaulted it would not have cost this much. This is because of *unregulated* derivatives, sorry.

[climbsolo]

au contraire - I know a lot about what I'm talking about. Those instruments came from a NEED. In a normal marketplace, bubbles are natural and lead good things. People do get hurt, but that's life. Right now you have an administration hell-bent on destroying capitalism and the populus is cheering him on. Well, they will succeed in breaking the back of the free market, you will get your wish. Unfortunately, you too will be crying faul (but very quietly so as not to be heard) when it's over.

[CarryANation]

You did not address any facts about the "instruments".

The *reason* that bad loans (NINJAs, etc) were written is *because* they made money off of the credit default swaps. There were banks shorting CDOs that they did not even own, and companies like AIG writing trillions of credit default swaps they had no possibility of repaying (fraud).

Watching CNBC does not make you knowledgeble.

[climbsolo]

Of course they were written and bought in order to make money. It may be tough for you to understand, but, this is what capitalism is about. Just like call/puts and a million other derivatives are created in order to give participants leverage. If you want something to correct, you have to let the market wash out the bad debt/leverage/etc.. and let those that took risks fail. What we're doing now is continuing to prop up the irresponsible parties at the taxpayers' expense. Viva El Obama!

[CarryANation]

I did not say they were written to "make money". Spare me the lecture on "capitalism." Maybe try reading a little about the current crisis aside from Rush Limbaugh. I suggest Bloomberg myself.

Thank to Bush for bailing out all the insolvent banks with our tax money, and the GOP Congress for allowing the fraud in the first place.

Admit that, then you can complain about Obama and the Democrats making it worse (which they are).

[climbsolo]

Nice how you stereotype, but, the GOP is way too socialist for my tastes. Of course Bush and Co. gave away the first $750 Billion to Paulson's buddies @ Bear Sterns. That was besides my point. My point is that, we're in the final stages now of the living market. She's gasping for breath and should be dead by August or so.

[CarryANation]

Oh whine whine whine I "stereotyped" you, what are you some liberal victim of everything?

Paulson is Goldman Sachs, not Bear Stearns. Bear Stearns was Dick Fuld.

You LIBERALS never learn do you? Just whine constantly, always the victim!

[CarryANation]

Hayek and Mises and the Austrians are NOT the same as the University of Chicago/Monetarist/Reaganomics crowd.

Not that the Austrians aren't ideological fundamentalists of course.

[porche75]

nonameposter, I urge you to upchuck Naomi Klein's empty rhetoric and take Econ 101 at a real university. If you don't get a real education, someone will try to educate you. For their own purposes, not yours.

Free market Capitalism isn't keynesian economics. you're bitching about keynesians. You don't have a fucking clue as to what you're talking about fool

[nonameposter]

you did not understand what i have written

[porche75]

you don't understand the difference between socailism and keynesian.

[nonameposter]

Again very wrong my friend...I am not certainly non-keynesian, I am socialist/marxist.

in German btw. we have a term that means "left-keynesian". And it is no coincidence that the left in the 70s has been (mitterand, kreisky, brandt,..) keynesian... [sorry for my spelling]

[porche75]

nonameposter, you're doing a strawman or your comprehension skills SUCK. And

Socialists are officially the most ANNOYING people on the planet because you dont' understand anything outside of your little box.

Free market economics does not involve government intervention.

Keynesian involves government intervention. It's a form of socialism. The federal reserve manipulating interest rates to make ARM loans more attractive is government intervention. It is not free market economics.

[porche75]

reply cont.

Deregulation was aided by the government with lowered interest rates so the bankers can sell more arm loans to finance to meet the demand of fraudulent derivatives. so it's not a free market problem. Governmetn interferred.

If they're going to deregulate, they should let the banks fail. The bankers knew they were selling krap. They should be in jail, prosecuted by their shareholders.

Instead the government decide to socialize their losses.

[porche75]

reply cont.

The government should have either regulated the derivatives in the beginning if they wanted to save the banks.

The government is infact aiding the bankers and causing the problem. Why do we want them to run a state controlled economy?  They really suck at it.

I don't care if you're German or a socialist. Get your facts straight first if you're going to spread your propoganda.

[eightbitgnosis]

"It's about will, not ability"

I am now more scarred for my country

[Cleancutchaos]

In other words they think the American people are too stupid to not take their word for it and they are going to do what they want whenever they want to do it. I've rent paid off through the rest of the year and a years supply of food. Lets bring on the crash so we can get this inevitable revolution over with and get on with life.

[elihalz]

All we need to do is privatize gains and socialize our losses. We the taxpayers should buy up these toxic assets so a small group of private investors gain property and wealth. Awesome!!

[porche75]

lol

[elihalz]

You don't need ability...Just good old will power!!! Who hired this dumbass?

[austinjamesfairmont]

@elihalz

bush did; then obama gave him a promotion

[kargenlewis]

blah blah blah. if your fooled by old bush politics then f you!

why dont republicans take responsibility for helping bush murder millions and destroying america? clinging to the fact that there are some corrupt dems doesnt justify anything and i wonder how u fukn sleep at night. fuk you republicans pigs!

[grapplerke]

WTF does this have to do with Republicans? In case you didn't know, Geithner was appointed by Barack Obama.

[HabitualNightOwl]

The 24/hour newscycle needs shit to talk about. I'm giving Geithner at least a fucking chance before we try to throw the baby out with the bathwater.

[porche75]

he's the wolf guarding the hen house.

[SmashBass]

This man Geithner is an arrogant imbecile.

[carthfhuil]

Just trust me, you hayseed ploughboy. All you people need to do is just keep cutting the checks. We'll make sure the banksters get all they need. It'll work. Trust me. I've been pulling con jobs like this at the NY Fed for YEARS. No doubt in my mind it'll work.

[rationalskeptic7718]

We just need to get off of the monetary system altogether and transition to a resource based economy NOT based on cyclical consumption and planned obsolescence.

[WKaliberr]

nihilists

[beejornk]

it's hard to say THIS IS OUR BACKUP PLAN JUST IN CASE THIS ONE FAILS when the plan is to inspire confidence. failure... is not an option

you just gotta have faith ~george michael

[tickhound]

I'm sure the plan will work... I'm sure its working now... Especially if bank owned debt laden citizenship is the goal.

[marniespeaks]

the American people don't care what these guys do, if they did they would all be in jail by now

[yanikv]

hung by their testicles!

[dogstar7]

"Back Up Plan" ???

Back up on THIS!

We don't need no steenking back-up-plan.

Dis one's the sheezit!

You got a better plan, trot it out!

Yeah, I didn't think so...

[flang]

They bitch about how he won't release the details of his plans, so when he releases them, they bitch that he hasn't released details of a backup plan.

[NatureLegalized]

J U S T I C E

[jjgreek1]

Thanks Bush for ruining this country. Thanks years and years of GOP "leadership" in congress that raped this nation of all its assetts. Thanks Republicans for paving the road to hell. God Bless Obama

[Falsare]

Thanks Americans for electing the fucker(s) to begin with....and ONE MORE TIME AFTER THAT!

[zndprophet]

YEAH, no shit!

And thanks for being SURPRISED that he fucked everything up. Thanks for putting all the blame on the new guy, who might have actually done something if America wasnt already sinking when he got on the ship!

[CliveSinclairZX]

?

no

no man

why don't people wake the hell up.....

[zndprophet]

most of the people who talk about "waking up" aren't awake either.

[TheLateAndrewRyan]

Wow I finally get how they justify all the incompitence going on in D.C right now

"it's not about ability it's about will" So basically throwing a few trillion dollars that the United states doesn't have and continue mediocre policies and wasteful spending is a good idea, the idea that continually throwing money at the problem rather than maximizing effectivness if how a government should be run... Faith in government- 25%

[CarryANation]

Geithner's plan WILL work - his banker cronies get bailed out and the taxpayer are stuck with their worthless "toxic assets".

And the insider trader, the derivatives fraudsters, and the ponzi schemes and embezzlers will get away with it all.

Change lol

[FoShizzle951]

In Geithner I Trust

[QIQrrr]

Sure it works. Just look at the employment figures. Happy days are here again. The debt is gone and everyone is happy.

[Maziyar]

We got this shiiittt.

[jfooj]

Timothy has an incredible amount of creases on his forehead. They almost look fake.

[birdwire3000]

Who is the guy standing behind Tim holding a gun to his back telling Tim to keep vommiting these lies?

[DarkMage991]

Turbo Tim needs to go

[JibblesTaint]

Fuck them all...

[kdogg1000]

timmy is a lieing whore.

[notscooter952]

He's right y'know. His plan may not work, but if congress and the treasury are arguing over semantics rather than truly getting something done... well, the consequences could be dire. That's my two cents.

[boots920]

I would feel better about the "PLAN" if Timmy wasn't a tax cheat.

Shouldn't tax cheats be put into jail instead of being appointed head of the Treasury ?

If you don't like the results coming down the pipe, maybe you should look at the people behind the results.

[dogstar7]

"Tax cheat" is a smear.

Millions of people are found to owe taxes every year.

Geitner paid two separate back taxes findings without contesting either.

[boots920]

Hey I think sheople screw up, forget to pay their taxes.

A treasury secretary should be as good as gold, not as his actions. Wasn't there anybody else that wasn't a tax cheat to head the dept of finance. Like give me a fckin break...you people truly deserve what's coming down the pipe.

[dogstar7]

"sheople" eh?

That tells me all I need to know.

[boots920]

All it means is you fckers are dumber than a sack of hammers.

[dogstar7]

Yeah, yeah...you drink Dr. Paul's kool-aid and you're smarter than everyone else.

[boots920]

Yea the kool-aid's called freedom !

The only way you can have individual freedom is with sound money. The founding fathers KNEW this, gold and silver as money LAW OF THE LAND. Do you want to depend on the ya hoos printing YOUR money into oblivion. ??

Just asking here, you don't invest in gold and silver, it has not return. Its a base of value because it never goes to 0.

Like the Federal Reserve will...

[dogstar7]

Double Score for getting you to rave on the Gold Standard!

Bahahahahahaaa!

Thanks for playing!

[boots920]

The only reason for the gold standard is to embarrass the government when they get caught counterfeiting money.

Just like 1971, Nixon ends the gold window...notice they was nothing to replace it with.

Fiat money always ends, you are just witnessing that truth. Its only your well being and that of your family...that's all.

[dogstar7]

Triple!

I'm fascinated, tell me more.

lol

[voyeurdug]

This is Plan A, B & C, and 1, 2, & 3, and Up, Down & Sideways. And if you've got a better plan, trot it on out, here.

[zndprophet]

Geithner is not my best friend, but I just kind of don't like how republicans get to ask tough questions after all they did, and all they let happen on their watch.

And not to be divisive, but these guys are almost exclusively from the south now-a region where there is a lot of racism, regressive thinking, and resistance to any kind of change.

I just don't like how these guys get to wash their hands clean of the mess they made and then play the taxpayer's best friend.

[therealcaptobvious]

the reason why the dems "didn't get to ask questions" is because they didn't care. Trust me, I emailed Pelosi a nice letter asking her not to pass the bailout.  Nope, she did it with a big grin on her creepy face. They throw around red herrings like you just did. So look in your own backyard.

Your grandchildren are wearing Uncle Sam's chains and shackles for AIG and you prefer to defend this guy. They're repeating Bush's mistakes. Where's the change? Where's the HOPE?

[zndprophet]

Look, the time to fucking complain, and be vigilante about government was the last 8 years, and people were NOT. NOW you want to complain.

Look, Obama is following a president who let business run wild, doing whatever they want. The results are catastrophic, and AIG IS too big to fail. Thats just the fact.

If it did, then you would REALLY see people mad. And you would REALLY see a depression.

I just don't think people accept the fact that this IS unfortunate, but is necessary.

[therealcaptobvious]

um, I was calling this out 8 years ago. What makes you think I wasn't? Did you not see a trade deficit of $400 billion before Bush got into office? Did you not see a devalued dollar? Gold was rising 8 years ago with home prices. The question is how did YOU not know?

We cried foul when Bush and the democratic majority passed the bailout.

You're more worried about Obama having power.  he's not only repeating Bush's mistakes, he's making this worse.

[zndprophet]

why do you focus on complicated things when there are simple explanations for this:

-The Bush Admin was IRRESPONSIBLE AS HELL.

-People in America were greedier than ever

-Businesses were offering insane, unrealistic deals they had NEVER offered before

-People were being paid bullshit at their wage slave jobs, but trying to live as though they were millionaires, and credit made this possible, but then the credit's interest rate would also shoot way up.

[therealcaptobvious]

the problem with that is "blaming Bush" doesn't guarentee a recovery. Blaming Bush is all Obama can do, his administration is exploiting Bush's economy to further destroy their country.

Sorry, blaming Bush isn't enough.

[zndprophet]

Obama isn't blaming Bush. It's just something people should remember. It's weird, we're saying there's this huge crisis, yet we're also saying we should do nothing about it, acting as if Obama's just pulling this out of his ass, he's not, it's what we've needed for a long time. We are so sheltered here in America we haven't realized that other countries have moved into the 21st century and we haven't. It's embarrassing, and bad for us.

[therealcaptobvious]

Blaming Bush is the only reason why Obama got elected.  Reality check fool.

[zndprophet]

Yeah, because we all know America really wanted McCain to be president.

And what the fuck are you even getting thumbs up for saying the words "Blaming Bush" this whole country should be BLAMING BUSH. Seriously, how fucking short is our memory in this country? Or did people really think this crisis wasn't gonna last very long, WHEN IT STARTED DURING THE BUSH ADMINISTRATION?

I knew, no matter WHO the president was going to be, that this crisis would last AT LEAST a year.

[stalcottsmith]

The thing is, it's going to fail anyway, and then people will be really mad anyway, and we will get a depression anyway. So why do we have to hand over all this money to billionaires and their elite friends before we go ahead and have our depression? This is just dumb.

[zndprophet]

I disagree.

You just don't like tax dollars going to the rich. NO ONE DOES.

It's like we've spilled milk, but we don't want to clean up the milk, we want to go back in time, and not spill it. We can't. It's already there.

it's like life man. Sometimes it SUCKS, sometimes its UNFAIR, but IT IS THE WAY IT IS.

[stalcottsmith]

Oh that is funny -- an Obama apologist attempting to justify transfer payments to speculators. Good luck with that.

[mpost81]

Wow what a load of shit.

[dogstar7]

Oh, really? How so, exactly?

Simple dismissal isn't even an argument, just opinion.