Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Geithner and Congress Take the Gloves Off

Posted by Larry Doyle on November 19, 2009 2:23 PM |

Do you get the sense that Americans are increasingly fed up with the incestuous nature of the Wall Street-Washington relationship? How so? The gloves came off from both sides of the aisle today in the midst of Congressional testimony from Treasury Secretary Geithner to the Joint Economic Committee.

Despite what you may think about the policy and programs of the Obama administration, the sentiments shared by selected Congressmen are clearly reflective of the mood in the nation today.

No jobs on Main Street combined with massive bonuses on Wall Street is a surefire recipe for an enraged electorate. Washington can spin it however they want and attempt to deflect blame to the prior administration, but real leaders and real leadership are defined by the saying embraced by Harry Truman, “The buck stops here.”

Leaders who accept credit but redirect blame aren’t leaders.

LD

  • Mike

    I feel like all the ‘measures’ Tim was talking about toward the end could be and are completely manipulated or over/understated. The public isn’t so mindless as they’d like to hope we are.

    Sure, Tim is correct that we did hit the brakes on the ‘freefall’ but he must acknowledge the way that he and the rest of the Obama administration are handling stimulus implementation is only setting us up for another, perhaps worse apocalypse.

    I guess the toughest thing to do when in power is admit that you’re wrong.

    • Larry Doyle

      Main Street America is enraged and the Congressmen (both Ds and Rs) are trying to show their constituents they’re ‘not going to take it anymore.’

  • divvytrader

    Turbo Timmy Taxcheat blew himself sky high today . Rather than stoically let the GOP Rep vent , Geithner did that famous liberal fallback when pressed …fell on his back and kicked like a turtle and screamed ” Its Bush’s Fault!!! ” excuse me ? did Bush pass a trillion dollar stimulus plan that has failed so badly Obama and his underlings are now making up jobs it created in districts that don’t even exist ?

    Yes Larry …. America is fed up and i know i’m sending the angriest e-mails of my life to numerous politicians .

    The other rep had it right … its not that he should resign , its ‘ how the **** did you get in this job you are hopelessly unqualified to have in first place ? ‘ ?

  • coe

    LD – None other than Richard Nixon himself is credited with saying, “The jawbone of an ass is just as dangerous today as it was in Sampson’s time”! Clearly, Congressman Brady was relentlessly peppering Secretary Geithner with the proverbial arguments ad populem (to the people) as well as as using the always accusatory arguments ad hominem (to the man). But the truth is, I don’t think he was the ass in this clip! Clearly, the Talking Heads were right in that facts can do what you want them to do. That, frankly, is less important than the fact that regardless of the spin, the administration’s plans as well as their accountabilities have not only been dismal failures, but they are poised to get a series of additional 15 yard penalties for piling on – extending the TARP legislation, raising taxes through the roof, trying to implement a costly health plan that is pure nonsense, borrowing irresponsibly in a vapor trail of zeros against the quality of life of our descendants…and on and on – tackling too many issues in a dogmatic, pig-headed blood lust of righteousness and arrogant rectitude about their own convictions about the proper direction of America – and Tim still has the effrontery to blame everything on the Bush administration. Tilt!!! Enough already… Why don’t we turn the saga into a James Michener novel and go back to the very first Republican administration and blame them for planting the seeds.

    I have to believe it’s not too easy to sit there and squirm and get pilloried by some gasbag congressman (though I admit he was quietly and insistently effective) who quite probably has his own skeletons in the closet – nobody is above reproach in this debate – but the response by Mr. Secretary was insolent, flustered, and disingenuous. Get better or get out!

    The shame of it is that while the substance behind this debate and the importance of the underlying issues are central to our country’s future, too many Americans probably were more concerned with Ms. Palin’s elaborate book tour appearances this week and whether or not Levi Johnston will try to milk his 15 minutes of fame into a movie deal. Have we tried to parse the significance of our President’s visit to China and how that relationship may well dictate more for us than we care to admit.

    Thanks for the clip, LD!

  • HaroldD

    OK, a show of hands here.
    If you had to put everything on the line…would you’all line up behind timmy and follow him to the ends of the earth?

    How many of you are there…I’m straining, don’t see many hands up…in fact damn few, effectively none.

    Geithner is a tool, an “order taker” for the financial oligarchy that rules the US. Almost all can sense that now.

  • Randy Bowman

    HaroldD ..

    While you may struggle to “see” those hands.. I assure you that non-action on our part constitutes raising each and every one of our collective hands and that we will indeed without a doubt follow this buffoon into the next Great Depression, absent absolutely relentless pressure by each of us on our elected representatives to stop this lunacy.

    So far, this latest scene between Timmy and Congress all makes for a good dog and pony show for the public.. but we all know this is, more often than not, just posing and posturing by our elected reps to show the public they are on our side at least on the face of things that we can see (and that they thus warrant our continued support.)

    However, most real gvoernment business is of course decided behind closed doors through the age old political system of the exchange of favors for power.

    Until great numbers of us find enough backbone and courage to stand-up and be heard loudly, clearly and in unison, very little will change and we will have to remain content with these shallow and mostly meaningless vignettes that pander to public sentiment momentarily and cause us to wait yet a little longer to really respond, thinking that maybe they finally get it and will begin to fix things. Well, that’s not going to happen without significant and unrelenting impetus from the public and we know it.

    The lunatics are indeed running the asylum and the worst part is not just that we actually put them there and gave them power over us, but that so many of us have become complacent, timid and even cowed and that we continually fail, over and over again, to rise up and employ all of the legal and communication tools available to us to firmly make a change for the better.






Recent Posts


ECONOMIC ALL-STARS


Archives