Federal Reserve Secretary Geithner asked to resign

Politicians want geithner to resign

“The public has lost all confidence in your ability to the do the job, and it is reflecting on your president.”

Geithner and his Wall Street government insiders know exactly what they are doing and that is protecting their corrupt friends at the top of Citi, AIG, Goldman Sacks, and Bank America — the top recipients of bailout funds.

We should let them all fail and save the dollar from massive inflation that will destroy our economy otherwise. Dismember them and let the pieces be managed by small honest banks. There are a thousand small honest banks and they would do a much better job than the proven failed leaders of the Big Banks.

Geithner Resignation Calls May Increase as 2010 Election Nears

By Robert Schmidt and Lorraine Woellert

Nov. 20 (Bloomberg) — U.S. Treasury Secretary Timothy Geithner, as part of a grilling on Capitol Hill yesterday, was asked by a Republican lawmaker to resign. It is a call he is likely to hear again and again as next year’s election campaign heats up.

Earlier in the week, a Republican challenger for a U.S. Senate seat in Connecticut had demanded Geithner quit, lambasting him for being “cozy” with banks bailed out by the federal government. Two other Republicans have requested hearings into Geithner’s handling of the bailout of insurer American International Group Inc.

“Conservatives need a bad guy,” said pollster John Zogby, president and CEO of Zogby International in Utica, New York. “Who better than the Treasury secretary?”

While Democrats have generally defended Geithner’s handling of the economy and the $700 billion Wall Street bailout, some are beginning to blame President Barack Obama’s administration for not doing enough to help Main Street voters. Geithner, who before his Treasury post was president of the Federal Reserve Bank of New York, also is becoming a target for those critics.

Earlier this week, Democratic Representative Peter DeFazio of Oregon told MSNBC that Geithner needed to go.

Yesterday, Republican Representative Kevin Brady of Texas told Geithner bipartisan dissatisfaction with him was growing.

“Conservatives agree, liberal Democrats agree, that it really is time for a fresh start,” Brady said at a hearing of Congress’ Joint Economic Committee.

‘Lost All Confidence’

“For the sake of our jobs, will you step down from your post?” asked Brady, who first won his seat in 1996. “The public has lost all confidence in your ability to the do the job, and it is reflecting on your president.”

The administration stepped in to defend Geithner after the hearing. “Secretary Geithner has helped steer the American economy back from the brink, and is now leading the effort on financial reform,” White House spokeswoman Jennifer Psaki said in an e-mail statement.

Angry Congress lashes out at Obama
House Republicans call on Geithner to resign
By Brady Dennis, Zachary A. Goldfarb and Neil Irwin
Washington Post Staff Writer
Friday, November 20, 2009

Growing discontent over the economy and frustration with efforts to speed its recovery boiled over Thursday on Capitol Hill in a wave of criticism and outright anger directed at the Obama administration.

Episodes in both houses of Congress exposed the raw nerves of lawmakers flooded with stories of unemployment and economic hardship back home. They also underscored the stiff headwinds that the administration faces as it pushes to enact sweeping changes to the financial regulatory system while also trying to create jobs for ordinary Americans.

President Obama’s allies in the Congressional Black Caucus, exasperated by the administration’s handling of the economy, unexpectedly blocked one his top priorities, using a legislative maneuver to postpone the approval of financial reform legislation by a key House committee.

Two buildings away, at a session of the Joint Economic Committee, Republicans escalated their attacks on Treasury Secretary Timothy F. Geithner, including a call for his resignation.

“Conservatives agree that as point person, you failed. Liberals are growing in that consensus as well,” said Rep. Kevin Brady (R-Tex.). “For the sake of our jobs, will you step down from your post?”

You can find the rest of this article at The Washington Post

Leave a Reply

Your email address will not be published. Required fields are marked *