Tim Geithner claims:
We saved the economy but kind of lost the public doing it.
Simon Johnson wrote: a more accurate essay entitled:
They Saved The Big Banks But Kind Of Lost The Economy Doing It.My take on it is pretty straightforward:
We can save the economy, but only if we kind of lose Geithner.As I have repeatedly pointed out, Geithner and Summers are the worst possible economic leaders for our country. See this, this, this, this, this, this, this, this and this.
Congressman DeFazio summed it up pretty well last November:
We think it is time, maybe, that we turn our focus to Main Street ...
Unfortunately, the President has an adviser from Wall Street, Larry Summers, and a Treasury Secretary from Wall Street, Timmy Geithner, who don't like that idea. They want to keep the TARP money either to continue to bail out Wall Street...or to pay down the deficit. That's absurd...
"[Obama] is being failed by his economic team ... We may have to sacrifice just two more jobs to get millions back for Americans.
Heh funny thing is, some people (like me) were saying that these leaders are total garbage from the very first bailout... instead of giving it to the citizens, they throw it at banks while the banks still continue to layoff workers and say "people are defaulting on loans.. why don't they have money?"
ReplyDeleteBe honest and recognize that the people who control the government hate Americans. They will continue to grind us into the dirt and laugh the whole way.
ReplyDeleteWhy not call a spade a spade.
ReplyDeleteObama is 'owned' by Wall Street.
Obviously he appointed his economic team at their request.
Why let Obama be the teflon president?
He deserves to be held accountable for the looting of Main Street on behalf of Wall St.
The problem is much bigger than we currently appreciate. Money is a SYSTEM and not merely a "thing" we put in our wallets. It is the system which has failed, for a multitude of reasons. But we have put all of our eggs in one basket, building an almost total dependency on the money system. Therefore, it is "too big to fail." This is, of course, untrue. But the perception remains a problem because as long as we believe it we will prop up the system with any means, real or imaginary, which maintains the perception of a viable system. We are actually working to maintain that perception even more so than money itself. It is faith which keeps money going ... faith that we will be able to maintain the perception in the face of an increasingly conflicting reality.
ReplyDelete