Geithner admits he has never had a real job

This is what the American people have to deal with. People with political power who have never spent a day in a private sector job.

Treasury Secretary Tim Geithner admitted to CNN that he has never held a "real job."

This is a great song about Geithner

Rick Santelli rips Geithner on monetizing

WAR of WORDS:

GEITHNER: There's no risk of that in the United States because, again, we have a strong independent central bank whose obligation under the law is not just to achieve maximum sustainable growth but to keep inflation low and stable over time. And I know the chairman is completely committed to that.

SANTELLI: Are we monetizing? And his answer was no, we have a strong independent central bank. Now, the latter may be true, but it certainly isn't an answer to the question. And I'd like feedback everybody, that quantitative easing can't exist without the monetization process. We issue debt, we print the money to buy it. That is monetizing. I can't believe that was his answer. It's pretty disingenuous. If that's the Treasury Secretary in charge of all this activity and that was his answer, it makes me nervous. Blatantly saying they're not monetizing when the March statement for the first time ever expressed quantitative easing and put it on the map, I just think that that's the wrong answer. He's not telling the truth!


IN THE NEWS:
RealClearPolitics: Santelli: Geithner Is "Lying To The American Public"
RushLimbaugh: Santelli: Little Timmy is a big liar

Geithner: Communist China trusts US Dollar

United States Treasury Secretary Tim Geithner says the People Republic of China has confidence in the American economy. Haha. Get real! China practically owns us. It is nice that Geithner went to China to give them a pep talk on the American economy. After all, this country needs more money to spend.

The U.S. will soon be a third-world country at this rate. We are regressing and the PRC is progressing.

Well, at least President Obama loves China. We have that going for us.

IN THE NEWS:
Bloomberg: Geithner Says China Has Confidence in U.S. Economy
Reuters: Geithner tells China its dollar assets are safe

Geithner: Bailout repayments from large banks to help smaller banks

Treasury Secretary Tim Geithner said on Wednesday that the bailouts to only the larger banks is not fair to smaller community banks. So what better way to make it fair? How about have the government take control over the smaller banks too! Geithner said the Obama administration will use bailout money repaid by large banks to provide additional capital infusions to smaller banks.

But, I thought the smaller banks knew how to run their businesses. I hope these banks don't fall for this. The U.S. government wants total control over the banking system. They want capitalism to die.

IN THE NEWS:
Associated Press: Geithner: Bailout repayments will broaden program

Obama and campaign promises

President Barack Obama made many promises during his presidential campaign. He has kept some promises and broke the rest.

FAILURES
Earmarks
Fiscal Responsibility
No Lobbyists
No Washington insiders

KEPT PROMISES
Close Gitmo prison
End war in Iraq

Oh, and don't forget the tax cheats. And the way he and Geithner have saved the economy with his super turbo tax! Also how we have hope and change.

I sure feel safer too with the release of some Gitmo prisoners. And, I know Israel feels safer with Obama.

Hypocrisy of Obama's auto team

President Barack Obama says he wants to save the American automobile industry. Or does he?

In an article published today in the Detroit News, the story questions on how much he may be willing to save Detroit.

According to the Detroit News, among the eight members named Friday to the Presidential Task Force on the Auto Industry and the 10 senior policy aides who will assist them in their work, two own American models. Add the Treasury Department's special adviser to the task force and the total jumps to three.

Let's take a look at the people in the task force:

Co-chairs: Treasury Secretary Timothy Geithner (who wants to give us all a ultra-high turbo tax, pun intended) and White House National Economic Council Director Lawrence Summers

Task force and their cars (Bold=foreign, italic=American)

Tim Geithner: 2008 Acura TSX, registered in New York (previous cars: 1999 Honda Accord, 2002 Acura MDX)

Lawrence Summers: 1995 Mazda Protege, registered in Massachusetts (previous car: 1996 Ford Taurus GL)

Office of Management and Budget Director Peter Orszag: 2008 Honda Odyssey and 2004 Volvo S60 (previous cars: 1997 Jeep Grand Cherokee and 1982 Datsun

White House climate czar Carol Browner: says she does not own a car (previous car: 1999 Saab 9-5 SE)

Energy Secretary Steven Chu: says he does not own a car (previous car: none listed)

Environmental Protection Agancy Administrator Lisa Jackson: 2008 Toyota Prius and Honda Odyssey minivan (prvious car: none listed)

Transportation Secretary Ray LaHood: unavailable

Head of the Council of Economic Advisers Christine Romer: unavailable

Austan Goolsbee: 2004 Toyota Highlander

Joan DeBoer, 2008 Lexus RX 350

Heather Zichal, Volvo C30

Gene Sperling, 2003 Lincoln LS (previous car: 1993 Saturn SL2)

Edward B. Montgomery, 1991 Harley-Davidson (previous car: 1990 Ford Taurus L station wagon)

Lisa Heinzerling, 1998 Subaru Legacy Outback station wagon (prevous car: none listed)

Diana Farrell, says she doesn't own a vehicle, but her husband, Scott Pearson, owns a 1985 Peugeot 505 S

Dan Utech, 2003 Mini Cooper S (previous care: none listed)

Rick Wade, 1998 Chevrolet Cavalier (previous car: 1998 Toyota Corolla)

Jared Bernstein, 2005 Honda Odyssey (previous: none listed)

Ron Bloom: aging Ford Taurus


The President and Vice President...

President Barack Obama: 2009 Ford Escape hybrid (previous car: Chrysler 300C)

Vice President Joe Biden: 1967 Chevrolet Corvette



A part of the problem in why American auto makers are suffering is in Obama's auto team. Go figure.


IN THE NEWS: (where I got the figures)
Detroit News: Auto team drives imports

Geithner has no clue

Thank you Senator Dodd. I am Tim Geithner and I am an idiot. I have no idea what I am doing. I can't do my own taxes. I have no clue on how to fix the economy. How did I get this Treasury Secretary job? I have no idea. What is money? I know I am the TARP guy, but what is TARP? Did I tell you that I am an idiot?

Treasury Secretary Tim Geithner admits he has no idea what he is doing today in a press conference:
Part One


Part Two


IN THE NEWS:
Reuters: Excerpts from Geithner's speech on bank plan
Politico: Costly bank rescue plan aims to increase trust
CNBC: Stocks Tumble as Bailout Plan Is Unveiled

Tax evader approved as Treasury Secretary

Timothy Geithner has been approved to be the next Treasury Secretary. He failed to pay his taxes for more than eight years. He owed the IRS $34,000 in taxes. But he was the only person in the world who understood TARP funds, as the Obama administration and the news media has said. He is the right man for the job. Yet, he doesn't know how to pay his own taxes and he's going to be in charge of the administration that is in charge of the federal tax system. Wow!

After all, it's only a "careless mistake" in forgetting to pay thousands of dollars in taxes. That's what he said and Sen. Harry Reid. Amazing!

IN THE NEWS:
Fox News: Senate Panel Approves...
MSNBC: Committee approves...
Wall Street Journal: Treasury's Top Post...