TV News LIES

Friday, Oct 31st

Last update12:33:24 AM GMT

You are here News Editorials Prairie2: We are warm blooded, we are legion

Prairie2: We are warm blooded, we are legion

E-mail Print PDF
DinosaurSome people on the left are alarmed that Treasury Sec Timothy Geithner is leading negotiations to deal with the Fiscal Cliff (or the Fiscal Bunny Slope) being held between the Obama administration and the Congress. Okay, he wouldn't be my pick, but he does have the expertise and the staff to deal with it.

Let's clear up a couple of things, Geithner never worked for a Wall Street bank. He was Governor of the NY Fed, which is largely responsible for riding herd on the the Wall Street banks, but that business was completely out of control before he got the job.

Now this doesn't prove anything one way or another, but Geithner was simultaneously on the board of the Bank of International Settlements (BIS). It was this body that pulled the plug on the Wall Street banks transferring money between banks in 2008 over their involvement in the selling of a quadrillion dollars ($1,000,000,000,000,000) worth of un-backed derivatives. This effectively froze the US banking system overnight.

John McCain was caught completely flat footed by this move. He said when reporters asked him about the imminent end of Western Civilization, "...the fundamentals of the economy are sound."  Obama was not caught off guard, even though he had no experience or training in banking or economics. He seemed completely comfortable talking about it, just like he had been briefed. He did make Geithner Sec of the Treasury, typically a plum appointment given to an ally.

Okay, even if Geithner can't be trusted, Obama's Chief of Staff Jack Lew is himself an economist with experience in banking. He's also worked at the State Department, the Council of Foriegn Relations, Office of Management and Budget, and several other jobs that suggest that he's nobody's fool. He is also expected to replace Geithner in Obama's second term.

More...

Most Recent Related Stories...


Alex Baer: Armageddon Out of Here

TV coverageMoney makes decisions Sanity never would. Fear, too. This adage applies to an awful lot of...

Why American Exceptionalism Is Inherently Immoral

AmericaThe origins of the phrase “American exceptionalism” are not especially obscure. The French sociologist Alexis de...

Bob Alexander: This Is Worse Than That

cowspiracyStop me if you know the answer to this one, “What is the one single industry...

Bob Alexander: The Clown Behind the Monster is a Monster

monster clownOnce upon a time there was a thoroughly mediocre man. He was incapable of finishing secondary...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!