Geitner Must Go

Time for a New Treasury Secretary

by Max
I can't believe that I am writing these words, but I have to agree with Michelle "Wild Eyes" Bachmann and her call for Treasury Secretary Timothy Geitner to resign. The United States was downgraded in our credit rating for the first time in history, and Geitner is in the captain's seat. This is not huge news since S & P has no credibility, but the state of American finances has to be viewed as a rating of Geitner's job performance. He does not instill confidence in the American public, and seems to be a push over for the American financial institutions. Here are my reasons why he should be fired as Treasury Secretary:

• No one of any prominence was ever jailed for the liars loans and the bundling of junk mortgages that was a strong contributor to financial crisis that has gripped the world for the past three years.
  
• We still have not stabilized the housing market and Geitner has not proposed any solutions.
  
• What are we going to do with Fannie Mae and Freddie Mac? The federal government has taken over these two organizations, but what is the plan for the future?
• After causing the financial crisis, the major banks were found to be creating millions of fake documents in order to have proof of ownership for millions of loans. The state Attorneys Generals are responding, but the federal government has not proposed a solution.
  
• He has not pushed back against the attack on the Consumer Protection Agency, and the Corporate Parties attempt to neuter the new agency.
  
• Geitner was not helpful in the debt ceiling debate by moving the deadline at least three times.
• If the thinking was there should be some stability at the Federal Reserve and Treasury to get us through the crisis, these guys have had three years and we are still limping along. Geitner helped get us in the crisis as the head of New York federal reserve, and it is time for him to take his punishment for being asleep at the wheel.
  
• Geitner should have been a louder voice for shutting down the Congressional leaders such as Michelle Bachmann who did not believe that defaulting on our debts was that big of a deal. He should have forced the Congress to raise the debt ceiling months ago by talking about the dangers every day on television and radio.
• He just does not inspire confidence that he has a handle on guiding the US economy. He seems like a child being pushed around by the corporations, their elected representatives, and the media.
  

Geitner should go, which would also help bolster the political situation for the President. He has been an awful Treasury Secretary, and was at the helm when the ship ran aground.