Why does Tim Geithner still have a job?

[AllentownJake]

If one looks back to the crisis of 2006-2008, the New York Federal Reserve Bank is constantly coming up as a player in this entire mess. In either staying quiet as a giant fraud is perpetuated on the balance sheets of the major banks they supervise, or by aiding in the cover-up when things went Boom.

Why is it, that Tim Geithner, the man who was in charge of the institution responsible for watching Wall Street during a time of fraud, is not sitting in either a prison cell or homeless shelter for his negligence, and upon reading what seems criminal actions.

In fact he has been promoted to Treasury Secretary of the United States. As more and more comes out of the shenanigans that occurred under his watch, one must ask what shenanigans are occurring now, that he has been given more power and oversight.

[defendandprotect]

1. Because Obama picked him for his "corporate team" -- !!!

[paulk]

2. because he's right where Obama wants him?

what other answer is there?

[closeupready]

3. If he's still there, he's there for as long as he wants the job.

IMO.

[lamp_shade]

4. I can't think of a better choice.

[AllentownJake]

5. I can think of about 10 nt

[laughingliberal]

8. At least...nt

[TheWatcher]

17. If you leave off "of a better choice" that would be a wildly accurate statement

describing those who still support this criminal.

[Subdivisions]

42. And you don't even know why. n/t

[Donnachaidh]

6. check this out --

http://www.youtube.com/watch?v=_WOz1nFOJPo

[AllentownJake]

9. April 2009

Surprise, surprise, surprise...yes, there were those of us who thought he had turned state evidence, and our hopes were quickly dashed.

[mod mom]

23. Please consider your own thread.

[glowing]

7. I think the idea was to bring in a person who knew the underhanded deeds

so Obama could know what was happening and catch misdeeds in the future... and for Timmy to help fix his own mess.

However, I think bringing on someone as head of Treasury who cheated on his own taxes and behaved very questionably when he was head of NY Fed Res is making Obama look corrupt and colluded. We'll have to wait and see if anything happens with any sort of regulations.

[Donnachaidh]

10. Michael Moore asked William Black about Geithner in Capitalism

And it's Black's opinion that Geithner was brought in because he's FAILED at every office he's held, and will FAIL in this one as well, because the bankers and their cronies in Washington do NOT want a spotlight put on the pervasive FRAUD that was going on and continues to go on in Wall Street and the larger banks.

what better way to hide a problem than to hire a guy who has such an extensive history of fucking up the only skill he has is to HIDE his failure(s)? Geithner is in place to keep a lid on any discovery of Paulson's stealth or naming any of Paulson's cronies in Washington.

Goldman Sachs rules Washington. Watch the movie when you get a chance.

[glowing]

11. I only wish that if we asked a question about Timmy to Obama, that we

could actually count on a real answer and not some fluff filler answer. This is why people don't trust politicians who are supposed to represent us. They lie. They lie when the truth would be better.

[Vidar]

12. Because Obama is corrupt?

[FiveGoodMen]

33. Sadly, that gets my vote.

[Vidar]

38. I'd rather be proven wrong on this one too, but the evidence points that way.

[Richard Steele]

35. I really don't see any other explanation for the facts at hand. nm

[Flaneur]

13. Because people can make the argument that he brought the economy...

back from the brink with the TARP and the bank stress test. Or more precisely, he is claimed to have saved the financial sector from imploding. Someone is making that argument in the New Yorker this week.

[earth mom]

14. Why? Because no one in Washington DC gives a damn about the people of this country. nt

[Tierra_y_Libertad]

15. White House rehab program for criminals?

[HiFructosePronSyrup]

16. Because he's done a damn good job and prevented a 2nd great depression?

Despite the wishes of those who hate the Obama administration and would like to see it fail?

[Hissyspit]

18. Speaking as someone who doesn't hate the Obama administration and wouldn't like to see it fail...

We could have prevented a second great depression AND had accountability and a new day of regulation of the banking industry and Wall Street. Plenty of Geithner criticism is legitimate.

[closeupready]

24. Did he cure cancer, too? Should I pencil in a date when he is scheduled to end poverty?

Inquiring minds.

[Raineyb]

37. Wouldn't doing a damn good job entail actually fixing what was wrong?

As Timmy hasn't done that his job can't objectively be described as having been done well.

[HiFructosePronSyrup]

43. You mean like going to congress to push financial reform?

Because he's done that.

[mod mom]

19. because he's a team player for the banking cabal.

[Sebastian Doyle]

20. Because he always brings cookies to the cabinet meetings?

The same kind that his family bakes in the hollow tree.

[Gin]

31. watching the Bill Moyers segment with Black just stirred all the anger

inside me again....this administration is perpetuating the fraud..

[JackRiddler]

21. As with most key players in any cabinet, because he's "wrong" in all the right ways.

Wrong for you, right for the banksters.

Why are proven titanic failures like Summers and Rubin - among the most important pioneers of the bubble and crash! -allowed within sniffing distance of the White House? Why are Brooksley Born and Harry Markopoulos and Joseph Stiglitz far, far away? Why is Elizabeth Warren kept at a safe distance? Why is Sheila Bair just a minor nuisance?

If you were right about the banksters, you're like a "premature antifascist," to pick up a phrase from the communist witchhunts. (It referred to those who were too early in opposing Hitler, and did so back when most of those who did were communists.)

If you were right, you're excluded and punished. If you were wrong, you're brought back to do it again, because the point was to be "wrong."

The same dynamics apply with those who stood against the aggressive war in Iraq from the beginning. They are punished, journalists and experts who pimpled the WMD and 9/11 lies are rewarded. You're allowed to have been "critical" of the war once Hamilton, Scowcroft and Baker were also "critical." Any earlier, and you're like the "premature antifascists."

[TexasObserver]

22. I think it's Geithner's relationship with Bo, the president's dog.

I heard someone on TV say they thought Geithner had "screwed the pooch."

I might have inferred the wrong thing, of course.

[TexasObserver]

25. More serious answer: the president doesn't need the distraction.

Replacing Geithner would mean two weeks of examining everything he has done, why he's being replaced, and how it was implicitly an admission of failure by Obama in one of his top economic picks.

As much as I hate Geithner, I side with the president on this one.

[Carolina]

36. your answer begs the bigger question

why did Obama pick Geithner in the first place!!!!

I knew early on with his very selection of Geithner, Summers et. al. that we, the people had been snookered by Mr. Hope and Change

[Jakes Progress]

26. So that Arne Duncan doesn't look so bad.

Sort of like rove picking rick perry to be georgie's lt. gov. It was the only person he could find that was worse than bush.

[Individualist]

27. Obama is a New Democrat

Geithner will stay right where he is.

[inna]

28. Because he's Obama's guy.

Or vice versa. :shrug:

[upi402]

29. k/r and n/t required

[DemReadingDU]

30. Geithner is doing the job he was appointed for

He is transferring our tax money to the wealthy

[joeybee12]

32. Was is Dick Cheney not in prison? Why is Karl Rover walking free? Answer;

Because there is no God apparently.

[Yavin4]

34. Obama Made A Political Decision That Staving Off The Financial Crisis

would get the economy back on track. Geithner was chosen because he wanted to reassure the financial community that things would return to status quo, which they have. However, the overall economy is still lagging.

This was a huge gamble on Obama's part. He could have picked a real ball-buster as Treas. Sec. Someone who would bring justice to Wall Street, but that may have made the financial crisis and the overall economy even worse than it is today.

So far, the jury is still out on this decision. If the overall economy improves over the next year and the markets continue to grow, then it was a good move. However, if the overall economy does not improve, Wall Street tanks, and more ugly revelations come out about Tim, then it will cost Obama his presidency.

[upi402]

39. the status quo destroys the host

:smoke:

[TheWatcher]

40. If the jury is still out on this decision, then they are OUT TO LUNCH.

A decision was made to return the status quo to the Banksters and Wall Street, and their Ponzi Economic Model that caused the crisis to begin with.

If you are going to measure by that, OF COURSE it was a great success.

As far as the Status Quo for the rest of us, we promptly received our slice of cake and were thrown under the bus.

Geithner is a Criminal and he belongs in jail along with Helo Ben.

Lucky for them they operate their machinations in a country that is so afflicted with Stockholm Syndrome that they are greeted with Candy, Flowers, and viewed as "Heroes" and "Liberators"

America is a completely Broken Nation at this point.

We LOVE being run by Criminals. It's so hip, trendy, funny and cute to us.

We LOVE being lied to.

We LOVE being scammed.

We LOVE being abused.

We LOVE being taken advantage of.

"We don't care what you do! Just SAVE US! Just give us the ILLUSION that things are back to normal, and we'll go back to watching TV and we won't say a thing!"

And therefore, we shall continue to get the government we deserve.

Oh, and before and of the True Believers even start, YES, I know this is all kookery, all conspiracy, I want Obama to fail, I want the Economy to fail, I'm bad, I'm a Republican, I live in a Political Fantasyland, I'm insane, I'm angry because I can't handle there is a Recovery and I didn't get to see the Economic Apocalypse I've fantasized about in my bunker for decades, Pony, Chess, Unicorn, Green Shoots, V-Shaped Recovery, Jobless Recovery, Puppies, Rainbows, blah, blah, blah.

Save your breath.

We're going to need all the oxygen we can get in order to reflate this next Bubble when it finally collapses.

AGAIN.

[Joe Chi Minh]

41. Because it's not what you know.... it's who you know.