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« Chrysler 1979: Bailout News From Back In The Day With Music By Bob Seger | Main | Bailout Comedy Saturday Night Live Videos: Tim Geithner Is Clueless And Open To Suggestions On Fixing The Banks & Please Do Not Upset 'The Rock' Obama. Broadcast March 7th »
Sunday
Mar082009

Bailout Truth: Video: Hey Tim, Do Us All A Favor And Step Down Now

Video:  Chris Whalen annihilates Geithner, calls him 'clueless' -- 2009

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As I mentioned in the previous post, it has not been a good week for our tax-cheating Treasury Secretary Tim Geithner.

He was hammered all week in front of Congress and could only respond with jazz hands.  His nominated deputies at Treasury have changed their minds and now want no part of Tim's Treasury.  And SNL kicked off their show last night with a sketch subtly lambasting our failed keeper.

The Bail favorite and bank genius, Chris Whalen dropped a truth bomb on Geithner Friday afternoon and said TG is much better suited for the State Department than Treasury.  He further charged that Tim knows nothing about financials and that his only purpose is to protect Goldman Sachs.  And best of all he predicts TG will be gone by June.  Whalen, a frequent guest host of CNBC's Squawk Box,  is very measured and not inflammatory, so these are serious accuasations and should be examined as such.  Let us be the first to start the countdown: 82 days until June 1st.

And now damningly, his seemingly positive work in the Asian Crisis of '97 has been exposed for the PR Shamwow that it was.  Paul Keating, the former Prime Minister of Australia says Geithner screwed things up in Indonesia so gravely, that his IMF solution actually helped to create our current financial crisis.

Quoting from the Sydney Morning Herald: "Keating went on to argue that, by frightening the Chinese into building their vast $US2 trillion foreign reserves, Geithner was responsible for the build-up of tremendous imbalance in the world financial system. This imbalance, in turn, according to Keating, contributed to the global financial crisis which has since devastated the world economy."

A little background on TG: he has an Asian studies degree from Dartmouth (tough major Tim considering you grew up in Asia) and a Masters in Political Science and International Economics from Johns Hopkins.

He is the Treasury Secretary of the United Sates at the most critical time in our history, and he has no viable background in Economics.  Nice call Obama. 

Lastly, while he was President of the Federal Reserve Bank of New York, he allowed the leverage factory of Wall Street to blossom on his watch.  Jimmy Rogers has a few, beautiful words about the complete failure that is Tim Geithner.

Could there possibly have been a worse choice for Treasury Secretary. Surely.  But not many.

 

 

 

 

 

 

 

 

 

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Reader Comments (12)

Nice Work. Do you ever take a Sunday off?

I loved the Whalen comment especially. Keep finding this stuff.
Mar 8, 2009 at 6:40 PM | Unregistered CommenterKansas is fucked
A bunch of incompetents hatching more bad plans... When will things really change?
Mar 8, 2009 at 6:41 PM | Unregistered CommenterAngry Jones
"And now damningly, his seemingly positive work in the Asian Crisis of '97 has been exposed for the PR Shamwow that it was."

The power of the Shamwow is real. Do not ever doubt it. Love the their commercials on CNBC.

Another excellent post, DB.
Mar 8, 2009 at 6:43 PM | Unregistered CommenterPuzo
It's who you know, and who you owe...
Mar 8, 2009 at 6:43 PM | Unregistered CommenterTimmaay Hater
Please do not forget that Bob Rubin was involved in this Indonesian rescue as well. He deserves blame for his role in the IMF and Citigroup.

That guy is #1 on my personal shit list. And he has received more than $100 million from Citi.
Mar 8, 2009 at 6:46 PM | Unregistered CommenterColonel Mustard Seed
I know Chris Whalen from a few visits he has had in our office. In addition to being very smart about banking, he's a really nice guy. I sort of get the sense Whalen wouldn't mind having Tim's position. We certainly would be better served by Whalen. Mr. Geithner is very much out of his league trying to run the Treasury.
Mar 8, 2009 at 6:56 PM | Unregistered CommenterPonzified
Start packing asshole - I smell your demise...
Mar 8, 2009 at 6:59 PM | Unregistered CommenterSuck it Geitner
More importantly that idiot OPbama should be removed as soon as possible as he is ruining this country. Enough is enough. I'm a young 32 year old man that has been depressed and getting sick. My health is falling apart because of this damn depression. One of my 32 year old collegues died two weeks ago because of a heart attack. this is getting serious folks. i'm sick and tired of letting these fools run our country. Every single damn criminal including Mozilo, Rubin, Cassano, Grahm, Madoff, Stanford, should be put in handcuffs asap if not shot. Enough is enough!!
Mar 8, 2009 at 10:59 PM | Unregistered CommenterMy health is detoriating
We are all suffering because of few greedy bastards. These people should be arrested as soon as possible.
Mar 8, 2009 at 11:01 PM | Unregistered CommenterJoe
@everyone

A reader sent me a message saying when he attempts to watch videos on the site it takes him to a login page.

Has anyone else had this kind of problem when watching videos here?

If so, please speak up so that I can work to solve it.

Thanks.
Mar 9, 2009 at 1:46 AM | Registered CommenterDailyBail
Like "My health is deteriorating" above, I am also 32, depressed by this god damned depression, and I worry about my own health as we go forward with this whole fiasco. I become heart-attack angry at least twice a day now. Either I remember that some asshole at Goldman is being subsidized by my taxes, or, Barack "Insane" Obama is planning on making another "down payment" on the destruction of our currency. (Or Rahm Emmanuel's fascist plans are coming to fruition.) Torches and pitchforks anyone? Tar and feathers? Or, as they say in California these days: "Heads on Sticks!"

That said, with the exception of my wife and kids, Chris Whalen has been the one bright spot in all of this. Even if the idiots in the WH never listen to what he's saying, at least I know that my 6-month-long call for putting the zombies to rest is NOT crazy.
Mar 23, 2009 at 2:06 AM | Unregistered CommenterJames H
@ James

Your call is not crazy and Whalen is a banking genius. Check out his website if you have time. His firm is IRA. Just google it with his name and you will find it.
Mar 24, 2009 at 1:41 AM | Registered CommenterDailyBail

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