Wednesday, January 25, 2012

It's Over: No Second Term for Geithner at Treasury

It's time for Treasury Secretary Tim Geithner to cash in the chips.

Geithner said he doesn’t expect President Barack Obama to ask him to stay in office if he’s re-elected.

“He’s not going to ask me to stay on, I’m pretty confident,” Geithner said in an interview with Bloomberg Television today. “I’m confident he’ll be president. But I’m also confident he’s going to have the privilege of having another secretary of the Treasury.” He said he would do “something else.”

Expect Geithner to do the two step cash in. First, he will move to a think tank for a nominal salary, after leaving the Treasury. Then in two to three months, when no one is looking, he will take the big buck bankster position he has earned so well during his tenure as bankster protector at the Treasury.

9 comments:

  1. Bob, are you saying that he will be Chairman (or, at least a board-member) of a central bank? Or, possibly a CEO position at a commercial or investment bank?

    Either way, both would be an horrific reality, economically and practically. I mean, the man is almost completely retarded in economic terms! I can only imagine how many times he took the BOHICA just for him to get where he is today (as well as some slobbery of the 'ol knob). He reminds me of the rich businessman's son (a Billy Madison, if you will), who only got where he is because daddy helped him along, yet everybody realizes that he's a complete idiot.

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    1. Nah, they would never put him in charge. VP.

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    2. OK, gotcha. I agree. He's certainly in the club, but he's more of a lapdog than a leader.

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  2. Where is the double-plus Like button!?!

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  3. http://finance.yahoo.com/blogs/daily-ticker/no-fed-does-not-print-money-just-explain-150433185.html

    Yahoo tries to attack Ron Paul in a subtle manner..

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    1. Whoever wrote that piece was certainly attempting to obfuscate how the Fed works, or he is just completely unknowledgeable himself.

      His article focused on the word "print", as if people who say the Fed is "printing money" actually mean that the Fed is physically printing dollar bills-- it's a euphemism for increasing the money supply, duh. Then he says that the Fed is merely loaning money to the Treasury and the member-banks. No crap, we all know this, but the question comes, "where does the Fed get the money?" This question, of course, is never answered. The fact is that the money the Fed loans doesn't exist, the Fed just creates it out of nothing and lends it at interest.

      The good part is that just about every commenter under the article calls him out on all of this, they aren't fooled. I would say that they know far more about the Fed than the writer of that article, who's knowledge is probably limited to what he read at wikipedia. It means that the people know what the heck is going on, which is fan-freaking-tastic in my book.

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  4. He is going to the World Bank.
    Timmy will use the next 3 months to learn Turbo Tax.

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  5. Please, Mr Robert Wenzel keep us updated on his status. Since you have said this, I am really curious where the tax cheat goes..

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