Geithner’s Financial Stability and Recovery - Details Please

WedNEWSday - February 11th, 2009

New Treasury Secretary Timothy Geithner took a page out of the Barack Obama playbook on Tuesday, delivering straight off the teleprompter.  However, it appears that Geithner is not as skilled of a reader as Obama.  Geithner’s words were so lacking in detail that lawmakers were left scratching their heads and investors started dumping stocks left and right.  Perhaps Geithner didn’t want us to have the details or maybe even he didn’t have them yet.

It would be a serious mistake to say that Geithner is incompetent. He knows exactly what he’s doing. Essentially, his programmed performance was designed to send the message to the American people and the Congress that we can’t be trusted with the details, even when they are available. It was pathetic to watch our elected senators at a subsequent hearing pleading for details. But it was also a “teaching moment.” This is out of our hands. This is the “New World Order” and we had better get used to it.

The media couldn’t help but notice that Geithner’s performance fell flat. The Washington Post reported that “…the lack of detail in his plan dismayed lawmakers and investors, triggering a steep sell-off on Wall Street.” The New York Times said, “Initial reviews for the man and his plan were not good…” and that “withering punditry on the business-news cable channels” made Geithner look even worse.

Geithner may not have all the answers because he has not gotten his marching orders. Those orders come from China, the global elite and the international bankers. After giving non-answers to Congress, Geithner is preparing to take off for a G-7 Meeting of Finance Ministers and Central Bank Governors in Rome, Italy. These foreign finance officials may determine the nature and fate of Geithner’s “stability and recovery” plan.

The conclusion has to be that Geithner doesn’t know how his “stability” plan will work out in practice because he’s not yet sure what China and other global payers are going to do. Our fate lies in their hands, signaling desperate times for our nation.  

This from Accuracy in Media - February 11th, 2009

http://www.aim.org/aim-column/who-is-pulling-geithners-strings/

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