Tim Geithner ACCIDENTALLY Tells The Truth

[kpete]

Run time: 05:32 https://www.youtube.com/watch?v=ogTLx34aRgE   Posted on YouTube: March 03, 2011 By YouTube Member: RepJohnCampbellCA48 Views on YouTube: 704   Posted on DU: March 05, 2011 By DU Member: kpete Views on DU: 1526

 
"As you know, the history of financial crises is largely a history of banks and real estate together. And the government ultimately is there. It's just behind the banks with this implicit support that they don't charge for. It still leaves the taxpayer expected...I mean, exposed to loss."

[Metta]

1. Happy karma, Tim. Take the warm weather clothes.

And save space for your friends who've created this tragedy.

[valerief]

2. The taxpayer always take the loss. nt

[Enthusiast]

3. If they wouldn't have done

away with Glass Steagal none of this could have happened. Just yesterday I read somewhere Republicans refer to certain regulations as 'draconian'. Filthy Republicans. I hate a filthy Republican.

[truth2power]

4. I don't understand what they're talking about (listened to about 3:00)...

or maybe it's that I don't have the patience to listen to their blather.

I see that's a Repuke asking questions of Geithner. Am I expected to believe that there will be any substantive information to come from that interchange??

I'm getting effing sick and tired of watching these so-called "hearings" where some Republican tool and some criminal bankster spend time "servicing" one another, to put it politely. :puke:

Gawd!...It's only the 5th of the month and I've already reached my monthly quota of puke-inducing abuse from these bastards. :banghead:

[Marblehead]

5. this is

all a big ponzi scheme, with some kabuki theater thrown in...

[vicarofrevelwood]

6. It still leaves the taxpayer expected

to loose. is what he was gonna say. So We're just looses.

[onethatcares]

7. what I gathered from this exchange is

"so, even if the banks loan money to people to buy homes, the taxpayer will have to back those loans (wink, wink, nod, nod,hahaha)and we will see some volitility in the market where people are gonna have to give an arm and a leg to buy a house (wink, wink) for the banks to think about even loaning any amount" wink, haha, grin, nod,

Geitner pisses me off as much as bushie did.

[DreamSmoker]

8. Put the risk where it belongs

I believe the Risk should be entirely on the banks who are willing to use the system as it stands..
If a Bank goes into the gambling business for more profits.. It should take on all the risks...

[SkyDaddy7]

9. Sorry but I don't think Tim is the ANTI-CHRIST...

The conversation was about going forward & still being able to provided help to poor & moderate middle class people who want to buy their first home & that risk should be managed.

I saw nothing evil in the exchange.