Treasury Secretary, Tim Geithner is GRILLED by congress (Video)

Again, when is this guy going to bounce from the Obama Administration....



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Winning in November is about JOBS.

I have been out here on the street, talking to people, co-workers, neighbors, etc.; since the summer and all people care about right now is jobs.

Unemployment is 10% this is a psychological message to many Americans, the big double dip. People have become more caution on spending, starting to save a bit more, and are mired with worry of "Will it be me or my spouse next?"

All of these worries are valid.

We must create a jobs bill, demand and bring change on the financial regulatory front and stick with it to win in November.

The health care fight has exhausted many resources, time and energy. It is a much worthy cause, but at this time this ship has sailed the port. Can some things be done to fix it? Sure, but until the bill is reconciled, the standoff will continue. And let me be clear, the finger pointing and anger must cease among Democrats. No fraction of this party is at fault, the blame is on who crafted this disastrous bill and who did not champion it. The crafting is from Baucus and lobbyists, the one who did not champion it to make sure it was pulled over the final line is Barack Obama. Period.

No more blaming conservadems, moderates, centrists, progressives or liberals, the State of the Union's full focus is on JOBS, JOBS, JOBS and this economy which has been sorely ignored by this White House. And don't argue that the White House has not ignored it, from polling after polling; many Americans believe that this White House has not handled, nor focused on the economic issues. The reality is this, if the public believes that, if it comes up in polling numbers, it will come out at the ballot box. Remember that. Massachusetts was convoluted and hard to read for many things, but one thing was consistent, the voters did not believe this White House was working hard enough on getting people back to work.

That is about to change, the course correction is evolving and this is the new fight for November.

President Barack Obama's chief political adviser says the president will focus on job-creating plans in his State of the Union address Wednesday night.

Strategist David Axelrod says the White House takes only "cold comfort" from the fact that the president's stimulus program saved about 2 million jobs - given the millions lost in the deepest economic downturn in decades.

Axelrod says that the administration continues to share the public's "consternation" with the financial sector, which was bailed out with public money and has returned to massive profits and huge bonus pay-outs.

Axelrod spoke Sunday on CNN's "State of the Union."

This is the immediate reality: jobs, unemployment, bank bailouts, anger at Wall Street, and the perception of no help on My Street.

That is what needs to be tackled and we are in the position to do so, but with some changes, in my opinion.

The Jobs Bill must and will be passed through congress and with Republican support. How? Why?

It is called taking their "balls to the wall on this one". This is an easy win. Democrats can champion putting people back to work immediately, helping small businesses, helping Americans with education to qualify for jobs, all of this can be done and it must come from the loudest bully pulpit of President Obama. This is a fight that is winnable. Paint the Party of "NO" with saying "NO to helping American Families get back on their feet, "NO" help with education in changing job careers, "NO" help with the small business sectors of this country. Make the Republicans take that NO vote and see how it turns out. Then run with it all the way to the polls in November.

That's how you win elections.

The anger at these bank bailouts and Wall Street is not a myth it is real. Every time we hear of more bonus money or record profit that these banks made off of our taxpayers’ money, it enrages folks and that is understandable. Also continuing to have Tim Geithner and Larry Summers in the White House, does not help matters on the message front.

This perception does not help, but hurt us:

The vaunted White House economic team may have called some shots right, but the members aren't helping much in getting a concise message out, critics said.

High-powered and experienced in Washington policymaking, the group has included former Treasury Secretary Lawrence H. Summers, ex-Federal Reserve Chairman Paul Volcker and onetime New York Fed chief -- and current Treasury secretary -- Timothy F. Geithner, as well as such respected academic economists as Christina Romer.

Now, even some Democrats see the team as conventional in its economic thinking, too cozy with Wall Street and ineffective in communicating how its policies would benefit ordinary people.

The problem, said Nobel laureate economist Joseph Stiglitz of Columbia University, stems from the president and his economic team focusing on pragmatic, nuts-and-bolts responses to the economy's woes.

"He wants to create jobs. He wants to restore the viability of our financial systems . . . make our economy more green. There is a set of well-defined objectives he's trying to achieve," Stiglitz said.

"Part of a pragmatic approach is you make a list. It's not a vision."

Obama seemed to acknowledge the problem last week.

"If there's one thing that I regret this year," he said in an interview on ABC-TV, it was that "we were so busy just getting stuff done and dealing with the immediate crises that were in front of us, that I think we lost some of that sense of speaking directly to the American people about what their core values are."

If we are going to run as a party that will not tolerate the raping of Americans by Wall Street and these Banks, we need to have people to champion that message. So far, the job has been dismal. Neither Geither nor Summers is good on television and the arrogance of Summers stating the recession is over is not felt on My Street when many are unemployed. The President needs to make a decision to keep either or both around. Geithner has had his own problems, the obvious that his policies are helping Wall Street and not My Street, whether that is a fair assessment is not for me to call, but it is an assessment that the public believes. The miscalculation of the public's anger at Wall Street stops at the White House. The White House needs to clean this perception of being cozy to Wall Street up. A strong bill for Wall Street is doable, again paint the Party of "NO" to wanting to continue lining the coffers of Wall Street and the banks, and believe me it can work.

Bringing in David Plouffe is a good thing, but remember he is there to work on getting Democrats elected he is not the silver bullet or silver lining. In my view, this White House has been on campaign mode since 2008 and the people of this country are in meltdown from its message. Going forward the message must be simple, concise, cohesive and decisive for the American Public to grasp. No more, "I will fight for you", unless you can deliver that punch line. It is time for the Commander in Chief to tell congress what he wants, tell the American Public what he wants and show that he means business.

Winning in November is easy, but the changes must be made along with the course correction. And the best thing out of all of this? It happened in January (Massachusetts special senate election), which means we have 10 months to get it together. Communication is the key for getting a cohesive message out. Our team has been pathetic on the messaging. From polling many Americans think the stimulus package is part of the bailout package to banks. (Video Below)



Folks, this is a "Houston we got a problem" alert. The Obama White House needs to be cleaned up on the Communication effort. We all can argue from here to Timbuktu about it, but the fact is really simple, if the American Public believes this then we just did a bad job in conveying how the stimulus package was/would be good for them. This is too simple and just needs to stop from the White House.

Going forward, the economy and jobs should be the focus of our message, along with understanding the public's frustration at Wall Street. The President should demand banking and Wall Street overhaul in new laws. We should use this populist message to push change and put in place mechanisms that Wall Street and these banks will never come to the financial brink again. The time to push this is NOW.

Finally, today the President announced a tax break for the Middle Class, this is a step in the right direction for My Street.

Cross-posted @ Daily Kos

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RESIGNATION TIME: Tim Geithner, Larry Summers, Rahm Emanuel must go

First off, I am glad that President Obama has decided to challenge banks, it is ABOUT TIME. Is it too late? For me, too early to decide, but devil is always in the details and until we see BOLD ACTION, it is another wait and see time for this White House.

Action against these banks should have happened DAY ONE when he stepped into the White House, not Day Two of Year Two.

Poll numbers and losing that senate seat in Massachusetts can be a huge wake up call that you can not ignore. Public anger is real, so the eyes are on President Obama and his action on this. Not words, ACTION. This means calling congress out by NAME if need be, going all over this country to make sure the public KNOWS what all this mean, no more too cute by half words, but this in lay man speak so my average Joe neighbor GET IT, it means using the power of the presidency as never before.

If Obama does not do this, the Democratic Party will be painted (as it already is starting to be) as the friends of Wall Street. Who wants to run on that one?

Tim Geithner needs to go. He never should have been confirmed. Today's revelation has shown us that maybe, just maybe, this White House is starting to NOT LISTEN TO GEITHNER. The move to back the Paul Volcker populist plan on reigning in these banks was a much needed breath of fresh air. Again, elections have consequences and I am really hoping it means the end of Geithner. Tim Geithner is compromised, always has been. His alliance has always been with Wall Street and these banks. It has been his bad advice to this administration and lack of movement that has now painted this White House as "Friends of Wall Street". He has not been honest or forthcoming of his past with this industry and it has spilled over to the street. He needs to go and I mean yesterday.

President Obama ask for his resignation and let the door knob hit him.

Larry Summers has advised this White House and President in horrible fashion. He and Geithner works in tandem, that means protecting the big banks and Wall Street. Remember, it was the arrogance of Larry Summers who proclaimed the "recession is over".



For this statement alone, he should have been ASKED, PRONTO for his resignation. How in the holy hell can you go to the American Public whose lives are in turmoil with unemployment, home loss, money loss, wages loss, no jobs around and have your number one man say this? HE NEED TO GO.

President Obama ask for his resignation and just remind yourself, "A bad choice for these times."

Rahm Emanuel has been NOT LIKED by many Democrats. Let's put it this way, for me, I tolerated him because President Obama has the right to pick and choose who he puts in his White House and Cabinet. But when they don't deliver, turn on members of the party with nasty rhetoric, misread the populus on what they wanted for healthcare, it is time to go. I state this because healthcare was to be Barack Obama's signature piece, we all know this, look at it now? Whether you agree with what it is about, if you even understand it, it was handled atrociously. And who is left with egg on his face? The President of the United States.

President Obama ask for his resignation and tell him good luck in running for Mayor of Chicago

I am a former member of the Navy, a proud member, when 16:30 arose on the 1MC one word was stated, "Sweepers".

It is time for President Obama to perform sweepers, instill and put people in these jobs that will serve him justice, pick up the pieces, listen to the public and move on.

Having a president out of touch when the anger is so intense is not a good thing, especially for us, but retooling and some fucking firing is a step in a right direction to getting his message back on track.

Finally, President Obama, taking your suit coat off and rolling up your sleeves to start fighting is not only justified but much NEEDED right now from you, FOR US.

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President Obama to tax banks and bonuses obscene (Video)

This is a great speech, but the reality is that most of these banks repaid the loan, and have given the government and American people a big "F and U". They are not lending out money, they have increase huge fees to many Americans, they are just fucking outrageous. The bottom line is this, this government under the leadership of George W. Bush and Barack Obama just gave these banks money with NO STIPULATIONS. Just gave the money out up front with no conditions or stipulations. That is what happened, we all know this. Does anyone perform business out here and just give your money to someone/a business without stipulations? I am sure you do not, but the government does. And while Barack Obama is at it, get rid of Timothy Geithner, he is compromised, damaged goods and never should have been confirmed. Folks, until the laws are changed on the books and action is taken, having these speeches and giving outrage means nothing. If you want real change, CHANGE THE DAMN LAWS.



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Obama Administration, GET RID OF TIM GEITHNER (Video)

He needs to go. Period. How long is Barack Obama going to keep Wall Street's best friend around? What he did to protect AIG is criminal. He has to go. Read it all here.

From the Ed Show:



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When is Geither going to be asked for his resignation?

I don't know what more can be said about the problematic Treasury Secretary Timothy Geithner. The very same individual who has protected Wall Street, the Big Banks and AIG. It is these decisions that have the American Public currently red hot about tax payer money being used to save these industries, which put us in the bind we are in. And the big banks? The very ones who used our money at 1% interest, invested it, made a bundle, paid the government back and still are not lending to move this economy.

Again, when are we going to see some asses flying from posts under the Obama Administration. This is a valid question, because this is all about changing Washington and not remaining the same, right?

An arm of the Federal Reserve, then led by now-Treasury Secretary Timothy Geithner, told bailed-out insurance giant AIG to withhold key details from the public about overpayments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs.

The sordid tale unfolds in a series of e-mails between the company and the New York Fed obtained by Rep. Darrell Issa (R-CA), the ranking member of the House Committee on Oversight and Government Reform, and first publicly disclosed by Bloomberg News.

The matter is the subject of an "ongoing review" by the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), communications director Kristine Belisle said in an e-mail to the Huffington Post. SIGTARP is headed by Neil M. Barofsky, a former federal prosecutor.

Taxpayers have committed about $182 billion to AIG. The under-regulated firm developed and sold complicated derivatives products without having adequate capital in place if those bets went bad, which they eventually did. The firm nearly single-handedly wrecked the entire financial system.

After the firm was given a taxpayer-funded backstop, one of its most controversial acts was to repay banks at 100 cents on the dollar for what was by that point nearly worthless insurance the banks had bought from AIG, known as credit-default swaps.

A brutal report issued in November by a government watchdog disclosed that AIG had actually been trying to negotiate better terms with the banks until - guess what? -- the New York Fed stepped in. The report held Geithner personally responsible, and led to renewed questions about his fitness for the job. read more here...

Geithner, for me was too close for comfort with his direct involvement of AIG and Wall Street. This disclosure to the public does not wear well on him nor the Obama Administration. Again, when is this man's resignation going to be on the President's desk?

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The banks continue to make record profits on the taxpayer's back (Video)

Tim Geithner, a fan of I AM NOT, again continues to protect his Wall Street friends, but why shouldn't he? In this aspect, the Obama Administration is no different than any other administration that has sat in the Oval Office, for that is not change anyone can believe in. And progress? What progress? What happened to the transparency? That word is starting to be a joke. And the disparity of Wall Street to Main Street continues to erode. Folks, as the rich gets richer, the average joe/joesetta continues to be on the unemployment dole and unable to find a job. That is what 2010 forward will be all about. Many Americans don't follow the nitty gritty of politics, but they know EXACTLY what they had 5 years ago versus today, for that they understand they have gotten the bad end of the stick.

In Geithner, we trust...

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Obama unveils his Tax Plan (Video)

Closing Corporate Tax Loop Holes

READ THE PLAN

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Secretary Tim Geithner's interview on CNBC (Video)

Part One

Part Two

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Secretary Geithner's bank rescue plan is revealed

I am not going to write anything on the bank rescue plan, I am skeptical, but at this point we don't know if it will work or not. Again, we are treading in unfamiliar waters here, the not knowing of what will work. I give Geithner points in having a plan in place and to let us see the specifics, now we have to see if it will work. So, far the markets like it, the dow rallied to 497 points. That is a good thing, so far.

Here is Secretary Geithner's plan for bank rescue.

President Obama on the bank rescue plan

Dow Jones surges to 497 points on Geithner's bank rescue plan

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It is roll time for Geithner

Today, even before the WHOLE PLAN is revealed, we finally get to see Treasury's Bank Rescue plan.

This plan is about all the toxic assets or bad mortgage paper on many of these banks books. Even though the government has already pumped billions into these banks, many are still in great financial strife and are not lending to consumers.

This is a double edge sword for me. I know, realistically that something has to be done to save the financial system in this country. I know if we don't and listen to hacks like morning joe or joke, do nothing that banks in the country will fall harder than we ever knew. On the other hand, I don't like giving these banks, the AIGs, and even the automotive industry a dime. These companies have board of directors, CEOs, CFOs, Executive Directors, all who are in charge of making decisions for their companies. Along with making decisions, they are also responsible for the direction of their companies, along with taking financial risk. Their risk, lack of forecast, and utter greed in the end took their companies down to come banging on the taxpayers door. I don't like it not one iota.

President Barack Obama is between a rock and a hard place. He is damned if he do, damned if he don't. That is the reality. Barack Obama was not elected to NOT DO anything, he was elected to DO SOMETHING. I am a Barack Obama supporter, but I call it like I see it with him. He is a politician first, no doubt about it. And let's talk about the mountainous of problems left from the last administration. First and foremost the economic mess. The Bush Administration turned a deaf ear and eye to the continuous job loss, the crumbling housing market, the instability of the markets, and the fright of the "R" word for recession. They left that. What is happening now, happened on Bush's watch and since last summer has escalated in this country. That is the reality. Bush could not get away from the kleeg lights fast enough.

Lastly, all this concerned trolling on these cable chatter shows is ridiculous. The stimulus package and the unveiled Geithner plan for banks have not even hit the ground running, yet, and you have these doomsday analysts declaring failure. I have not heard one word, looked at a plan, heard anything from the leaders of the Republican party except their continuous "more tax cuts" that will get us out of this financial mess. The other side has offered NOTHING, ZERO, NADA, on how to fix this. These same folks have zero credibility in any criticism here. These same folks gave Bush a blank check to spend this country into the demise we are at now. So, yes, they have a right to be critical but the criticism needs to come after a plan is implemented not before. And morning joke, well, you get what I mean. He continues to perpetrate gloom and doom, but will be the first to turn around and say, "Gee, maybe we did not understand or know what we are talking about." And he is getting, "How much a year to spout that great analysis?" You feel me?

On Monday morning at 8:45 a.m., the Treasury Department announces its long-delayed bank rescue plan, a three-pronged approach which involves, according to Reuters:

1) Low-interest loans to private investors to buy up banks' bad assets.

2) A public-private fund, run by fund managers, to invest in troubled mortgages, "with government capital matching private capital contributions"

3) The Federal Reserve will enlarge the $1 trillion TALF (Term Asset-Backed Securities Loan Facility) to buy assets "weighing on bank balance sheets."

Collaboration with the private sector is a key element of the bank-rescue plan, according to the Wall Street Journal:

Treasury Secretary Timothy Geithner said the only way to resolve the financial crisis is to work with the private sector to remove troubled assets clogging banks' balance sheets, even at a time when Wall Street moneymakers are being vilified by the public and politicians.

In an interview with The Wall Street Journal Sunday, Mr. Geithner said the government cannot do this alone. "Our judgment is that the best way to get through this is if we can work with the markets," he said. "We don't want the government to assume all the risk. We want the private sector to work with us."

Source

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The Fed, Treasury bumbling idiots

I don't care how good or bad the news is, the Obama Administration should have been kept abreast of every step of the bonus fiasco that is brewing about AIG.

The gasbags on morning joke continues fake outrage, well they do that every morning, but one thing I do agree with is this, the Obama Administration knew by late last week about these bonuses and the pounding of AIG by the Sunday morning talk shows was in full force. Now the public is weeding through the when, who, and how the administration knew about these outrageous payments.

We can point fingers all day long, but it comes down to this, Timothy Geithner, Treasury Secretary failed in halting these bonuses, period. He knew about the bonuses and could not stop AIG from cutting the checks and issuing the checks by Friday.

The U.S. public owns 80% of AIG, which started to get major money pumped to them from the Bush Administration to stay afloat. Some hard decisions needs to be made about this company. Starting with the takeover from the U.S. government, the firing of management, the total shut down of that products division which put this company where it is at now to restore some confidence in management of this administration.

There is no way that a private company, taking public money, propped up by us, the taxpayers, and we, the taxpayers can not tell AIG where the wind blows?

Geithner is a smart guy, we know this, but is he the right guy for this job? Right now, NO.

As pressure mounted on AIG employees to return the bonuses, new details emerged yesterday about what the Fed, the Treasury Department and the White House knew regarding the payments and when. AIG executives said the Fed was informed three months ago by the company that it would pay $165 million by March 15 to employees working at its most troubled division. The Treasury and White House said they learned of the payments from Fed officials only days before they were due.

Close coordination between the Fed and the administration is now more important than ever as they near the launch of two signature programs to rescue the financial system, which together could reach $2 trillion and are aimed at reviving consumer lending and purchasing soured assets and loans from ailing banks.

Treasury Secretary Timothy F. Geithner, a central figure in the decision to bail out AIG last fall as president of the Federal Reserve Bank of New York, said in an interview yesterday that he had not been aware of the size of the bonuses and the timing of the payments.

"I was stunned when I learned how bad this was on Tuesday [March 10]," Geithner said. "I shouldn't have been in that position, but it's my responsibility and I accept that."

Two days later, Geithner told the White House. The last-minute disclosure irked some of the president's senior advisers, but they refuse to point fingers now, saying the timing had little impact on the outcome or the president's public statements this week.

"Would I have liked an earlier warning system on this? Yeah," said David Axelrod, a senior White House adviser. "Would it have markedly changed things? Probably not. The legal constraints are the legal constraints."

[snip]

Democrats and Republicans in Congress are increasingly questioning how Geithner could not have known about the bonuses, given his past role in AIG's bailout, which has totaled more than $170 billion.

"I'm sick and tired of hearing the administration and the Secretary of the Treasury say, 'I just found out about it,' " Rep. Paul E. Kanjorski (D-Pa.) said yesterday.

The shitty thing about all of this is that those making these decisions are the same players, mostly, who was for deregulation, crafted the deals that have come back to bite this administration in the "you know where" and comes up with this lame excuse that "we can't renegotiate these contracts". I am sorry but it smells of bullshit. If the auto industry can renegotiate, you mean to tell me the United States of America who OWNS 80% of AIG can not drag their asses to the table to do the same? It doesn't wash.

The Obama Administration needs to clean this up and I mean, yesterday. They deserve the criticism that they are getting right now and I don't think most will disagree. This is absolutely the opposite of what Obama campaign for since 2007. But there is something about Washington, D.C., where these folks get into a room, craft legislation, and somehow for the good of the people always fall short.

Obama Administration, clean it up, even if it means performing sweepers for a new Treasury Secretary.

Source

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Time to move past the Republicans, olive branches go so far

We can toil, argue, posture all day and all night over this Judd Gregg mess, but the bottom line is why this guy was even ASKED to be Commerce Secretary when in the past he wanted the Commerce Department abolished.

One also must question why Gregg dumped this announcement right before Obama was speaking in Peoria, Illinois at Caterpillar about jobs. Talk about stepping all over a message. Oh, we can not forget the Gregg presser, while speaking nice of Obama, repeated that this is a White House that would not work with him. Again, talk about stepping all over the White House.

My thing is this, the Obama Administration needs to work with Republicans who are willing to work in good faith, and so far the good faith thingy has been a bust. The Obama White House can only offer that olive branch, so far. Now, is Obama making inroads in his attempt of bi-partisanship, absolutely, and hopefully it will pay down the road but right now it is a wash.

Many were stating during the Daschle fiasco, that we need Daschle and he will be nominated. In fact, I was very much for Daschle moving aside but acknowledged that he was needed for HHS, but in the end the perception always wins out. The image of Daschle driving around for three years with a free car and driver from a political associate did not look good for many reasons. It made Obama look like a hypocrite because it was these same images of Washington, D.C. fatcats that he campaigned against. Daschle in the end had to go. The Geithner mess, and here we go again about taxes, has weakened him somewhat in his duties as Treasury Secretary. I am sure that will wan out in time, but right now many have scrutiny about his appointment.

The thing is that the Obama White House, if they knew about Gregg, was slow off the mark, AGAIN, in getting ahead of this story. If anyone in the White House knew that Gregg was contemplating removing his name for Commerce and did not reveal that information to the White House Press should be fired.

Perception to the public is everything. Ask Wall Street. Those fatcats are having a very hard time justifying their rich spending habits, on the public's dime, and are squirming to where the money went, which much of it did in bonuses. The Obama White House needs to get ahead of the perception curve, and get out of the campaign mode; they are still figuring this out. The Judd Gregg announcement should never have stepped on President Obama's speech in Peoria, Illinois today, but it did.

Bi-partisanship only works when both sides are working for it. This is not the case here for President Obama. How many times will the Republicans continue to undermine him, while he is frantically trying to woo them in? Barack Obama work with those who want to work with you, everyone else, push them aside. That fraction of the Republican Party will not come around for you; this is something that must be realized so you can move on.

Lastly, Press Secretary Robert Gibbs statement:

"Senator Gregg reached out to the President and offered his name for Secretary of Commerce. He was very clear throughout the interviewing process that despite past disagreements about policies, he would support, embrace, and move forward with the President’s agenda. Once it became clear after his nomination that Senator Gregg was not going to be supporting some of President Obama’s key economic priorities, it became necessary for Senator Gregg and the Obama administration to part ways. We regret that he has had a change of heart".

And yes, the GOP has declared war on Obama. Now I hope the White House will wake up.

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Secretary of Treasury, Timothy Geithner's Speech Unveils Bank Bailout Plan (Video and Transcript)

Transcript

Financial Stability Plan

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Treasury Secretary Geithner's Bank Bailout Plan (Video)

Secretary Geithner will have a presser tomorrow to unveil this bank bailout plan.

Source

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Obama limits CEOs salaries from bailout banks and the stimulus package (Video and Transcript)

President Barack Obama is trying to pivot BACK to his stimulus package. A package, in which the Obama White House has allowed the wilderness Republicans to nitpick, exploits the obvious pork and defines the package as a spending package instead of a jobs package.

I watched Roland Martin last night on CNN who said openly what I have been thinking privately, that the Obama White House has done a horrible job in selling this stimulus package to the public. I agree. This is not the campaign when we were spinning our heels on the SLOWNESS in the response by the Obama Campaign. This is 2009 and President Obama and his White House need to shift out of casual mode and get in the trenches with this stimulus package.

Why is this important? Because as of RIGHT NOW, Obama does not have the numbers in the senate to pass this bill. Obama also should have read the house bill, LINE BY LINE and removed all that pork or perception of pork, out of that bill. This bill should be about JOBS, JOBS, JOBS, the creation of jobs and then get out there and explain to the public why each item in that bill will infuse the economy and create jobs.

This did not happen. The Daschle debacle woke everyone up over at 1600 Pennsylvania Avenue. Campaigning for change and not showing change in your administration is called being a hypocrite. I am glad Obama went on all the major networks and said, "I screwed up." He did because the buck stops at the Oval Office. Now it is time to clean it up, pivot and get this stimulus package PASSED.

Lastly, the Republicans, most of the ones on the Hill in Washington, DC, don't care about this stimulus package passing. They have made their point that they are going to be obstructionists and will do anything to NOT HELP. This means, they do not care about President Obama coming to the Hill and listening to them. Their minds are made up. Bi-partisanship can only go so far. If the other side continues to give you the flip, what are you to do? As President Obama evoked in his statement, he reminded those in congress what the people voted for on November 4th. Now, President Obama must move forward and past the Republicans. You cannot continue to talk to a door closed in your face, because that is just what the Republicans have done. The Obama White House has allowed them in their wilderness to drive home their message on the stimulus package. Bad move. Time to highjack the message BACK and I mean quick, fast and in a hurry. Or we are going to be stuck with a bunch of 1980s style tax cuts which will do NOTHING for jobs. We did not vote for this.

And the bailed out fat cats on Wall Street? This needed to happen, YESTERDAY.

Transcript

Political Animal

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Timothy Geithner, Sworn in as Treasury Secretary (Video)

President Obama made some remarks and Vice President Biden swore Geithner in at Treasury.

Remarks by Obama

Geithner sworn in by Biden

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Senate Finance Committee Voted to Confirm Geithner (Video)

He will be confirmed, along with Holder...

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Timothy Geithner, Confirmation Hearing, Live Video Stream

MSNBC Video Link

Geithner is Obama's Treasury Secretary Designate, who has had problems paying his taxes or it was a mistake not paying the taxes.

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Geithner's Confirmation Hearing Pushed Back

Timothy Geithner's confirmation hearing is pushed back to Wednesday, January 21, 2009, due to the revelation of Geithner not paying income taxes and some domestic help problems.

The Senate Finance Committee for a second time postponed a hearing for Treasury Secretary-nominee Timothy Geithner following revelations about his failure to pay Social Security and Medicare taxes while working for the International Monetary Fund, among other tax infractions.

Obama Team are defending Geithner for Treasury and understands this was a mistake which Geithner immediately informed them of.

"The President-elect chose Tim Geithner to be his treasury secretary because he's the right person to help lead our economic recovery during these challenging times," Obama spokesman Robert Gibbs said in a statement.

"He's dedicated his career to our country and served with honor, intelligence and distinction. That service should not be tarnished by honest mistakes, which, upon learning of them, he quickly addressed."

The delay is prompted by Sens. Jon Kyl and Jim Bunning. Many believe that Geithner will still be confirmed, largely due to his massive knowledge and understanding of the TARP program.

Obama on Geithner

Source

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