Did Tim Geithner Get Fired Yesterday?

[0tr]

Re: Did Tim Geithner Get Fired Yesterday?

Geithner will go after mid-term fiasco in November, at the latest. That's my guess.

[blazespinnaker]

Re: Did Tim Geithner Get Fired Yesterday?

So what? The economy is coming to a screeching halt now. The difference is that the US public is now saddled with so much liability and debt, compared to a year ago, that the country is fast approaching zero degrees of freedom in respect to policy options available to it.

The Obama Administration and the country would have been far better off if they had fired the management of every TBTF financial institution that needed a bail out, break up these institutions, auction off the viable and solvent parts of the businesses, used TARP for its original purpose to take over and write off the non-viable "assets", and sent Ben out in a helicopter to literally drop the trillions sent to Wall Street on the heads of the people in the heartland instead.

Yeah, it'd be nice to see a big clawback on all those bank people.. I bet that would get Obama a few votes.

[Slimprofits]

Re: Did Tim Geithner Get Fired Yesterday?

from Simon Johnson:

"The White House background briefing is that their proposals would freeze biggest bank size “as is” — this makes no sense at all.

Twenty years of reckless expansion, a massive crisis, and the most generous bailout in human history are not a recipe for “right” sized banks. There is a lot of work the administration hasn’t done on the details — this is a classic policy scramble, in which ducks have not been lined up. But we should treat this as the public comment phase for potentially sensible principles — and an opportunity to propose workable details. The banks are already hard at work, pushing in the other direction.

It’s a big potential policy change, and my litmus test is simple – does it, at the end of the day, imply breaking Goldman Sachs up into 4 or 5 independent pieces?"

http://baselinescenario.com/2010/01/21/as-is/

[chr5648]

Re: Did Tim Geithner Get Fired Yesterday?

Obama is the nowhere man, at least for the past year.

Could being the nowhere man be the *KEY*in the 4 year strategy for re-election?

[ThePythonicCow]

Re: Did Tim Geithner Get Fired Yesterday?

Yeah, it'd be nice to see a big clawback on all those bank people.. I bet that would get Obama a few votes.

Will those claws inflict some honest to goodness flesh wounds?

Can we watch?