What Would You Ask Tim Geithner? (Alan Murray Interviews The Treasury Secretary With Reader-Submitted Questions From Digg)
I wish we had known about this ahead of time. It's our mistake for missing it and not alerting readers. The questions submitted and voted by Digg users were outstanding. Tougher and more intelligent questioning than I've seen in any interview of Timmaaay, including Fareed Zakaria's commendable effort. Steve Liesman and Erin Burnett should seek solace under a rock considering their feeble attempts with the Treasury Secretary.
The disadvantage for us is that because of the public nature of voting (Digging) the submitted questions, Turbo knew ahead of time what would be asked and was fully prepared with rehearsed answers. Still the questions were so aggressive and critical in nature that TG couldn't help but squirm through many of them.
I've had a draft post half-written for 8 weeks entitled Ten Questions For Geithner And Summers. One of these days I'll get around to completing it, but the first question on my list is the most glaring omission from the Digg final 10 and is the same that I posed to Simon Johnson and Brad Delong:
- In the discussion of bank losses, why are taxpayers asked and expected to bear the entire loss, while bank bondhholders who recklessly lent trillions to risky bank management teams, are spared completely from this discussion? They knowingly took the investment risk in search of higher returns and they aren't even being asked to forfeit a penny on their bond holdings. It is criminal, conspiratorial and reeks of Treasury capture. What say you, Mr. Secretary?
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Top 10 Questions Submitted and Voted on by Digg Users
- 1. Why has the federal reserve bank never been audited?
- 1134 diggs
- What's your view? »
- 2. Goldman Sachs is a large, profit seeking company which you were/are a part of. Isn't it a conflict of interest to funnel tax dollars into this private company using your new power as Secretary of the Treasury, keeping in mind that you and your old buddies benefit monetarily? Maybe I'm mistaken, but isn't this a textbook example of political corruption?
- 728 diggs
- What's your view? »
- 3. What is your position on Ron Paul's House Resolution 1207? (Which as of the writing of this question has 282 cosponsors.) http://www.auditthefed.com/
- 712 diggs
- What's your view? »
- 4. You failed to pay some of your federal taxes in 2001. And in 2002. And in 2003. And in 2004. Please explain.
- 690 diggs
- What's your view? »
- 5. How do you feel about the revolving door between high job positions in the treasury and Goldman Sachs?
- 579 diggs
- What's your view? »
- 6. Last week you requested that Congress raise the $12.1 trillion statutory debt limit, saying that it could be breached as early as mid-October. This is in addition to the increase already approved in February this year to accommodate the added debt from the $787 Billion stimulus plan. How is this anything other than runaway government spending? What will it take for us to see US debt go the other direction?
- 520 diggs
- What's your view? »
- 7. Why is the government only supporting aging and increasingly obsolete car makers? You've given an extraordinary amount of money to GM, but the government has failed to encourage new, innovative, and cleaner forms of personal transportation such as produced by Tesla Motors. Why has TARP money not been invested in companies such as Tesla, and will the government support similar companies in the future?
- 441 diggs
- What's your view? »
- 8. Are you, yourself, troubled by the massive amount of government spending? What do you think will happen to the dollar over the next 10 years?
- 376 diggs
- What's your view? »
- 9. You are a member of the Federal Reserve, a group that so thoroughly mismanaged our monetary policy that they helped create a massive housing bubble because of foolish loans and speculation enabled by low interest rates, and then you were involved in a horribly mismanaged bailout that hasn't freed up credit markets and can't even account for all the money it spent. Why are you running the Treasury Department?
- 357 diggs
- What's your view? »
- 10. You've amended your tax returns for the years 2001, 2002, 2004, 2005 and 2006 and found that you've owed an additional $31,536 http://finance.senate.gov/press/Bpress/2009press/prb011309d.pdf ... Giving you the benefit of a doubt (that you are neither inept nor corrupt but were simply overwhelmed by an overly complex system), what recommendations do you have for simplifying the tax code?
- 347 diggs
- What's your view? »
Aug 26, 2009 at 7:02 AM
Reader Comments (29)
http://dailybail.com/home/call-the-treasury-secretary-today-phone-numbers-included-cnb.html
http://dailybail.com/home/bank-bailout-news-complete-video-and-transcript-of-tim-geith.html
http://dailybail.com/home/fareed-zakaria-interviews-tim-geithner-gps-clip.html
By far the best of the group...
http://digg.com/dialogg/Timothy_Geithner_1
http://online.wsj.com/community/dialogg?reflink=djm_diggvideolanding_textlink
I might be amused by both serious and funny answers. And then we can package them up and send them to Geithner's by registered mail...and then I'll keep sending them by registered mail every week until he responds...
So let's go...
Post this…
http://www.youtube.com/watch?v=3u5Nd9i1UiA
You posted the preview for Michael Moore, now be fair and balanced and post the preview for Alex Jones – Fall of the Republic.
OR
Delete this post and…well…you know the and…
Free Speech, Free Gobias!
-- How do you sleep at night?
--Why aren't you in prison for tax evasion?
--Who in their right mind would buy a 30 year US treasury bond today?
--Will you please tell us all where we can find the "evade" menu in TurboTax?
--How does printing lots of money help problems that were created by printing too much money?
But after watching some of the interview, I'd have to go back to the question you posed a while ago DB:
--Is it just me or does this guy have a perpetual case of stupid face?
@ Gobias
Start a blog already. Your recent posts are just annoying. I get it, NoBama. I'm a libertarian, don't like him either. What on this site has led you to believe that it's favorable towards Obama and his administration?
You still are missing the basic distinction...the Michael Moore clip was about causing trouble at AIG...making a fuss over the bailouts...What does the Alex Jones clip have to do with the bailouts...
Allie's Q is dead on...what about this site makes you think we love Obama...our whole point (ask Gompers and he'll explain again) is that BOTH parties are basically the same...they attempt to divide the electorate (banker's manifesto of 1892) meanwhile the influence of lobbying grows and certain corporate interests further solidify control...no matter which side might temporarily be in control...
I consider you rather un-evolved politically if you're still fighting with one side against the other...and that's exactly what you're doing...how could you be so fooled...i mean this seriously...you present yourself as a thinker but you show little evidence of thought...wake up...and for once answer my questions...
I forgot all about the stupid face comment...i liked these questions:
--Will you please tell us all where we can find the "evade" menu in TurboTax?
--How does printing lots of money help problems that were created by printing too much money?
GB
It appears that you are still convinced at least.
He who has no falcon, must hunt with owls.
Allie can take care of herself, and doesn't need my help, but her comments to you were entirely in line with my own...
You treat this site as your own personal Nobama dumping ground, and somehow you have alienated a bunch of people who also do not support Obama...
That is an accomplishment...
http://business.theatlantic.com/2009/08/imagining_the_deficit_under_president_john_mccain.php
http://www.reuters.com/article/governmentFilingsNews/idUSN2625953820090826
That is an accomplishment... "
I usually skip over the Gobias Saga comments, but this is hilarious.
No, really, I am gutted.
Many are finding significant similarities between the US today and pre-revolutionary France. Do you think the public can draw any lessons from that period, and do you agree with Robespierre's argument regarding the proper punishment for those who betray a nation?
Those were all excellent questions, but Geithner just avoids and the interviewer never pressed him into addressing the essence of some questions. Like in Q2, he KNOWS the questioner was referring to Paulson and was rightly disturbed about the Goldman/government ties yet his answer was a total whiney blowoff: 'it was not ME'. And number 9 was an awesome setup, but it gave him the opportunity to bail himself out on the answer "because the prez appointed me". Maybe it should have been "What qualifications justify your appointment as Treasury Sec?"
How about, "What gives Treasury the power to make the judgment call between the large banks/financial institutions that were artificially propped up and the small ones that have been allowed to slip out of business? Point to the section of the Constitution where it gives Treasury that power. Explain the inconsistency in Treasury's bailout execution."
Also, "Don't you think banks and financial institutions should be banned from making any contributions to government officials and/or political campaigns?"
And "Would you support the arrest of Henry Paulson on charges of fraud against the American people? If not, then you are OK with a government official ignoring legislation issued through Congress on behalf of the American people? How is this different from a dictatorship?"
It's like trying to nail jello to a wall.
Fed lawyer Kit Wheatley told Preska in a conference call today that she did not know how long it would take for the Fed board to search the New York Fed for records.
“We really don’t know what’s in New York,” Wheatley said. “We don’t control the system of record-keeping in New York.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAOhgVw78e3U
Folks;
What other proof we need to revolt?
Stop making all payments to Banker thugs and let the revolution begin to end DEBT enforced slavery on us.
Fed Urges Continued Secrecy on Banks in Bailout Programs
Posted August 27th, 2009 by Michael Nystrom
NEW YORK (Reuters) - The U.S. Federal Reserve asked a federal judge not to enforce her order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received, saying such disclosure would threaten the companies and the economy.
The central bank filed its request on Wednesday, two days after Chief Judge Loretta Preska of the U.S. District Court in Manhattan ruled in favor of Bloomberg News, which had sought information under the federal Freedom of Information Act.
Preska said the Fed failed to show that revealing the names would stigmatize the banks and result in "imminent competitive harm." The Fed asked the judge not to require disclosure while it readies an appeal.
"Immediate release of these documents will cause irreparable harm to these institutions and to the board's ability to effectively manage the current, and any future, financial crisis," the central bank argued.
It added that the public interest favors a delay, citing a potential for "significant harms that could befall not only private companies, but the economy as a whole" if the information were disclosed.
http://www.reuters.com/article/ousiv/idUSTRE57Q46920090827
http://www.youtube.com/watch?v=wzrt7WY9nuY&eurl=http%3A%2F%2Fwww.dailypaul.com%2F&feature=player_embedded
I have a hard time watching Geithner. He's evil like the other overlords, yes, but he's also got a thick layer of nerdiness that I find interminably annoying. How could this super dorky nerd-o have been chosen for the dominating team while I was left out??? It's a primary school playground feeling of injustice that won't go away. If we were both 7, I would punch his face and make him pee in his pants.
Those were all excellent questions, but Geithner just avoids and the interviewer never pressed him into addressing the essence of some questions. Like in Q2, he KNOWS the questioner was referring to Paulson and was rightly disturbed about the Goldman/government ties yet his answer was a total whiney blowoff: 'it was not ME'. And number 9 was an awesome setup, but it gave him the opportunity to bail himself out on the answer "because the prez appointed me". Maybe it should have been "What qualifications justify your appointment as Treasury Sec?"
How about, "What gives Treasury the power to make the judgment call between the large banks/financial institutions that were artificially propped up and the small ones that have been allowed to slip out of business? Point to the section of the Constitution where it gives Treasury that power. Explain the inconsistency in Treasury's bailout execution."
Also, "Don't you think banks and financial institutions should be banned from making any contributions to government officials and/or political campaigns?"
And "Would you support the arrest of Henry Paulson on charges of fraud against the American people? If not, then you are OK with a government official ignoring legislation issued through Congress on behalf of the American people? How is this different from a dictatorship?"
It's like trying to nail jello to a wall.