Geithnerbabble Private Investment Blahblah Blah Zzzzz
Ya think, Timmy?
Treasury Secretary Timothy Geithner said the economy has now recovered sufficiently for government to begin to make way for private business investment.
Mr. Geithner’s comments on Sunday, which echo previous sentiments expressed by President Barack Obama, reflect a turning point in the government response to the worst economic downturn since the Great Depression, a period marked by deep federal intervention in the financial, housing, auto and other industries.
“We need to make that transition now to a recovery led by private investment,” Mr. Geithner said Sunday on NBC’s “Meet the Press.”
Mr. Geithner hit two Sunday talk shows, delivering the Obama administration’s message that the economy was recovering, but warning that high unemployment would continue to linger.
“I think the most likely thing is you’ll see an economy that gradually strengthens over the next year or two, you’ll see job growth start to come back, investments expanding … but we’ve got a long way to go still,” Mr. Geithner said.
Times like these you begin to wonder if Geithner was really just hired to serve as this administration's weasel.
Check out On Wall Street, crime pays very well via the socialists at WSWS:
Treasury Secretary Timothy Geithner, appearing on several Sunday morning interview programs, endorsed Feinberg’s contention that he had no authority to halt the bonus payments—without noting that the Obama administration had insisted that Congress not enact any legally binding restrictions on executive pay and bonuses. In other words, the “pay czar” was impotent because the White House wanted it that way.
On NBC’s “Meet the Press,” Geithner was asked how he could justify a situation where those whose financial operations caused the present economic slump were raking in seven- and eight-figure salaries and bonuses, while ordinary people are struggling to survive. He made no real answer, only pointing to the financial reform legislation signed into law last week by Obama as though it provided a solution.
Squirm, motherfucker, squirm. Geithy still doesn't have an answer on Fannie and Freddie and probably won't for the foreseeable future. Let's just talk about the government stepping back instead.