To Be With the 99%, President Obama Must Fire Tim Geithner

[Cali_Democrat]

Dylan Ratigan
Posted: 10/20/11 12:41 PM ET

In my last piece, I talked about how Tim Geithner's job over the past five years has been to (a) print money, (b) give it to rich friends, and (c) deny everyone else legal and financial rights. This shows up everywhere, from the 0% you get on your savings account versus the insider information the rich get, to your lack of access to the Fed discount window. It's a symptom of bought government, which I try to expose on our show every day. (You can help by signing our petition at GetMoneyOut.com. )

I find it laughable to hear President Obama's spokesperson talking about how his campaign represents the 99%. For starters He'd have to fire Geithner, to prove he's not the leader of a bought government. After all, it is Geithner who took a system indirectly rigged to profit the 1% at the expense of everyone else, and institutionalized and formalized it during a crisis.

<snip>

I'll start by noting that the world would be better off if Geithner had only lasted 24 hours at the New York Fed. But alas, he lasted much, much longer. Ok, what should he have done differently? Why don't we start with real capital requirements? A bank with no capital requirements (or fake capital requirements), or a CDS with no capital requirements, allows nearly infinite leverage. It tends to drive out good players from the market, and then blow up the world.

From roughly the 1930s until the 1970s, there were capital requirements. And the financial system didn't go through panics and bailouts. So that's one thing.

Read the whole piece: http://www.huffingtonpost.com/dylan-ratigan/to-be-with-the-99-preside_b_1021972.html

[Recursion]

1. I just don't get the hate of Geithner

He's done a more or less good job in very bad circumstances, and has done significantly more than Treasury watchers thought would have been possible. And I really hate seeing him billed as some kind of Wall Street fat cat after a career that has been pretty much entirely in public service.

People are blaming Geithner for his accepting the existing fact that finance is a ridiculously large part of the economy. Then again, people blame Obama for the fact that Congress is a co-equal branch of government, so it's not really surprising.

[Hawkowl]

21. ARE YOU FUCKING KIDDING?

Geithner, the guy who reports to Goldman Sachs and "slow walks" the president? The guy who used to run the Federal Reserve Bank of NY and is hugely responsible for TARP and fucking over the American Taxpayer? The guy who thinks no bonus is too big for Wall Street banksters?

The utter ignorance on this board is astounding.

[Recursion]

22. How does he "report to Goldman Sachs"?

The guy who used to run the Federal Reserve Bank of NY and is hugely responsible for TARP and fucking over the American Taxpayer?

TARP was one of the most successful government programs in a long time.

[ellisonz]

48. The silence is deafening. n/t

[Name removed]

24. Deleted message

Message removed by moderator. Click here to review the message board rules.

[treestar]

31. I know, it's like NAFTA

We are to hate it/him, but not know why.

This makes it all about people, too, as if different people would have different powers in an office.

[Name removed]

75. Deleted message

Message removed by moderator. Click here to review the message board rules.

[CreekDog]

86. "hate" was never used, but if it helps you create the strawman

then i guess you're gonna do it anyway.

:eyes:

[Recursion]

I've got to say Treestar has a point

Every time I ask for specifics on why I'm supposed to want Geithner fired things get squishy.

[Recursion]

90. I've got to say Treestar has a point

Every time I ask for specifics on why I'm supposed to want Geithner fired things get squishy.

[Hart2008]

45. Obviously, you just don't get it. NT

[Recursion]

56. So tell me

I'm all ears. Or eyes, this being a textual medium.

[boppers]

93. Hatred is not a logical result.

You either "get it" or don't, you can't really think your way into it.

[ellisonz]

47. +2012

[secondwind]

67. Geithner wants to leave, but he can't. The GOP will NOT accept a replacement.

[Recursion]

79. That's a very good point (nt)

[CreekDog]

85. Wanting him removed from the job is "hate"?

well no point in trying to discuss it logically with you then.

:eyes:

let me know when you are ready to discuss things without you saying that the people you are disagreeing with are simply "hating".

:hi:

[Recursion]

89. Well, not necessarily, no

But if you think there has not been active hate against Geithner here we've been reading different message boards.

But, let me take your point. OK, maybe it's not hate. Why should he lose his job? What better outcomes would follow?

[CreekDog]

92. but you responded to the OP, referring to hate

so now you're saying the OP wasn't expressing any hate, nor was Ratigan

maybe you find it easier to win arguments against straw men "haters" than actual people who actually think things.

:shrug:

[Recursion]

95. You're obsessing needlessly over the word "hate"

Why should he be fired? What better outcomes would follow?

[CreekDog]

99. because you're obsessively using the word "hater"

:eyes:

i would prefer more variety in knowledge and approach in handling the economy among his economic team than is currently there.

[Recursion]

103. Well, looking back, I did not use the word "hater"

But, seriously, what positive outcomes would come from firing Geithner?

[CreekDog]

104. you used the word "hate"

:eyes:

[zipplewrath]

109. He openly defended the bankers bonuses

When he had a chance to cancel their bonuses, he instead defended them. That was pretty much the end for him with alot of people.

[Name removed]

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[Tarheel_Dem]

3. Only if Dylan Ratigan promises to bite me.

:hi:

[Wait Wut]

13. !

:spray:

[AtomicKitten]

30. lol

:hi:

[flamingdem]

59. Where?! lol

He knows Geithner isn't the problem but it works like a charm to blame him.

[ClarkUSA]

4. Dylan Ratigan is a self-described conservative and former CNBC Bush II cheerleader.

"I consider myself a conservative": http://www.google.com/search?client=safari&rls=en&q=dylan+Ratigan+conservative&ie=UTF-8&oe=UTF-8

WTF cares what he thinks? I am a New Yorker who has been to OWS with friends of mine who also organize for OFA. RATigan e sure as hell doesn't speak for the 99% there or anywhere. He is a conservative tool for MSM whore shit-stirring all aimed at undermining President Obama's chances for re-election by paying divide and conquer.

[great white snark]

8. He and others get off on pitting OWS against President Obama.

And by "others" I may or may not be speaking of certain DU members.

[ClarkUSA]

9. Well-said. Divide & conquer is the name of the game for 24/7 Obama critics on the internet & TV.

[JoePhilly]

17. +1

[DisgustipatedinCA]

33. You at OWS?

I'll bet you were very uncomfortable.

[ClarkUSA]

40. WTF do you know? Talk is cheap, coming from those who don't do anything else.

[DisgustipatedinCA]

43. I only wish I could have seen your reply pre-edit

I'm sure it was very complimentary.

[ellisonz]

49. You asked for it with what basically amounts to a personal attack.

[flamingdem]

60. Why do so many liberal Obama supporters kiss his patuty?

They say he's the only one on TV to attack the banks. That's he's been doing this for several years. I say he's a repuke and trashes Obama daily while pretending to be independent and they get mad and end the discussion.

[Ignis]

74. Just like Andrew Sullivan.

[rsmith6621]

5. I AGREE Tim Geithner MUST GO

...NOW!!!!!

[ClarkUSA]

6. Why? Elizabeth Warren sure as hell doesn't think so and she knows far better than you.

[Axrendale]

58. I generally agree with what you have been posting. But I was under the impression

that Warren despises Geithner, and the feeling is mutual. From what I've read of it, the two were something approaching arch-nemeses when they were both in the administration, and when she left to plan her run for the Senate, it seems fairly conclusive that the Treasury Sec. was glad to see the back of her. Similarly, I haven't seen anything to indicate that Warren wouldn't be fine with the idea of Geithner departing the administration.

[creon]

54. No

Geithner will not be fired

[Cali_Democrat]

7. I'll also add, if Obama wants to be with the 99% rather than the 1%...

...he shouldn't take a single penny from Wall Street. His campaign has already raised millions from Wall Street. Also, In 2008, Obama received large amounts of cash from Wall Street. If Obama wants to represent the 99%, he should give it all back and refuse to take another dime.

[ClarkUSA]

12. That's ridiculous There are some liberals who work on Wall Street. See Warren Buffett.

He's the only presidential candidate ever not to take PAC money or donations from federal lobbyists. Ditto now. But you're going to ignore the facts just as RATigan does.

[Name removed]

19. Deleted message

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[BklnDem75]

37. Luckily, neither you nor Ratigan don't get to decide that

Don't pretend you're the voice of the 99%. You're not even close.

[glowing]

10. It was bad news from the beginning when he "misfiled" his own taxes

and then begged for a job that requires him to be the boss of the treasury. Essentially the agency he defrauded... Should have been let go from the beginning. Everything about the background people were digging up on him sounded like an insider ass hat much to connected to the BS he overlooked while in the NY Fed.

[ClarkUSA]

15. So everyone who makes mistakes on their taxes are "defrauding" the IRS?

I did that one year and that's bullshit.

[glowing]

26. Yes, that is defrauding the Govt. AND no one has asked you to be the

Sec of Treasury either. We know he doesn't do his own taxes, so he's got a shady accountant or its the only time he got caught.

[stevenleser]

28. Did you really mean to say that making a mistake on your taxes is fraud?

Do you have any idea how crazy that sounds?

[glowing]

44. It is what it is. It defrauds the govt. The govt deals with the

simple mistakes by charging the difference with interest attached. If its a really big deal, there could be jail time.

[stevenleser]

51. OK, I gave you an opportunity to correct your mistake. You are wrong. Fraud is intentional

A mistake, by definition, is not.

http://law.yourdictionary.com/fraud
An intentional misrepresentation uttered to cause another to rely on it to his detriment.

http://en.wikipedia.org/wiki/Fraud

--------------------------------------
An unintentional error is not fraud.

[lamp_shade]

11. I'll never understand the hate here for Tim. I have great respect for him.

[vi5]

14. Who says he wants to be with the 99%?

Don't get me wrong he wants to appear to be, so that he can get some of those sweet, sweet votes that he needs in the next year.

But nobody who ever stood with the 99% would have hired Timmy Boy in the first place (to say nothing of Larry and Ben and any number of other people he's stocked his cabinet with.

[ClarkUSA]

16. More fact-free vitriolic rhetoric aimed at President Obama? I'm not kicking this OP anymore.

Let it die.

[CreekDog]

87. you don't have to

your side is so overrepresented here anymore that any number of people will take your place to tell the old line Democrats and Liberals here to stuff their opinions and simply just agree with whatever Obama does --in this case, because Geithner is Obama's choice.

but that is what DU is today.

first rule: agree with Obama

second rule: be a Democrat (unless it disagrees with the first rule)

(get flamed or deleted if you follow the second rule more closely than the first)

:banghead:

[AngkorWot]

18. Do you want him to be with the 99%?

It's a little bit odd that some of the people who claim to support the 99% don't want the president to back them.

[vi5]

29. I've wanted him to be since day 1....

My point is that he always should have been with the 99%. That's what the Democratic party is ostensibly supposed to stand for and with.

His record on doing so thus far is spotty at best. Particularly when the people he put in charge of economic policy were partly or largely responsible for the 1% getting away with what they have.

So yes, I do want him with the 99%. But as the original post and article states I want it to be in action and not just in words and not just as a ploy to get votes by makeing people think he stands for one thing when seeking votes but another when legislating and advocating and standing up for policy (again). And the fact is by leaving someone like Geithner in charge of treasury, his sincerity and his efforts (as oppossed to his rhetoric) is seriously cast in doubt.

[Critters2]

20. You're right....but don't expect many here to acknowledge the fact. nt

[woo me with science]

62. The truth hurts.

He has been working for Wall Street since Day One. All the spin in the world does not change his record.

[stevenleser]

23. You are mistaking your own political beliefs with what it means to be with the 99%

To be in step with the Occupy movement, one only has to not implement policies that benefit the 1% over the 99%.

Satisfying some vendetta against Geithner does not help the 99%.

[Fuddnik]

25. Don't forget to fire Holder and Gensler too.

And demand Bernanke's resignation.

[stevenleser]

27. No one is going to get a job or a living wage, nor are the wealthy going to pay more taxes nor is

anything else going to get accomplished for the 99% by firing these people.

[Fuddnik]

35. A few competent regulators and lawyers could.

Maybe a lot of investigators.

But, nobody wants to upset the Wall Street Gravy Train.

[stevenleser]

36. No, this is just an easy way to make a cheap shot at President Obama

First of all, if you are upset about policies of the administration, call out the policies. This ridiculous snipping at the heels of cabinet members is a worthless excercise except for the propaganda value.

[Fuddnik]

38. Now, back to reality.

[stevenleser]

39. Thanks for acknowledging that I brought us there. nt

[TheKentuckian]

78. I need no fig leafs to go after Obama but I will agree there is little sense or value

in sniping at the cabinet while giving their boss a pass.

[Name removed]

32. Deleted message

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[AtomicKitten]

34. To be with the 99%, Ratigan must drop his pants and back into a cactus.

No pain, no gain.

[flamingdem]

61. fabulous idea but one problem is that (quasi)liberal types think he's hot

so that would increase his jesus like power over them..

[secondwind]

41. Geithner wants to leave, but the GOP will NOT nominate a successor, so he is STUCK.

[Hart2008]

46. How did Obama become Republican? Why wouldn't he nominate a succesor? NT

[Recursion]

57. Umm... wtf?

Of course he'd nominate a successor, who could not be confirmed.

[krawhitham]

42. Republicans aim fire at Geithner

http://www.politico.com/news/stories/1011/66251.html

[ellisonz]

50. Ratigan is a schmuk.

:rofl:

[chrisa]

52. Geithner is one of the biggest Wall Street cronies out there.

Even worse than some in the Bush Administration.

Rec.

[creon]

53. No

Geithner will not be fired.

And, PBO will not say very much about OWS/we are the 99% in public. It would be impolitic.

[ProSense]

55. Hilarious

"To Be With the 99%, President Obama Must Fire Tim Geithner"

Everyone knows the buck stops with Geithner, right?

"I find it laughable to hear President Obama's spokesperson talking about how his campaign represents the 99%."

Is this a piece about being pissed off at Geithner or Obama?

The commentary fits right in with the need to complain about anything related to Obama. I mean, firing Geithner will suddenly cast the President as being "with the 99%"?

Somehow I doubt Ratigan, who often sounds like a confused libertarian, would then sing Obama's praise. He'd simply move on to the next idiotic demand.

The premise is beyond hilarious.

[BklnDem75]

63. I remember how calm things got after Rahm left...

Yeah right. The list is endless and the hate will never be sated.

[bvar22]

64. Hey, recced UP to +1!

..but merely getting rid of Geithner won't fix the problem.
He is only one of an infestation of rats.


Ratigan NAILS IT!
http://www.youtube.com/watch?v=CJKFw2Lk92g

And THAT explains the absence of "Obama 2012" signs at the OWS Protests.



You will know them by their WORKS,
not by their excuses.

Solidarity99!
--------------------------------------------------------------------------------------------------------------------------------

[LittleBlue]

65. Obama will never be with the 99% because he's part of the 1% NT

[Bake]

66. Obama has no desire to be with the 99%

They don't have jobs and can't contribute to his campaign. So he'll stick with Wall Street and Geithner.

As for me? Timmy needs to go.

BAke

[ClarkUSA]

68. He always has and still does. --> Pres. "Obama Has Written Personal Checks To Struggling Americans"

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=802967&mesg_id=802967

[SkyDaddy7]

77. +1000000!!!!!! nt.

[Mimosa]

80. Which doesn't really help as much as really pitching for us would.

Obama did not fight for single payer health care or ending the Bush tax cuts.

[ClarkUSA]

81. Who do you think got a year-long UI extension for long-term unemployed last December? Santa Claus?

:sarcasm:

It's very interesting how the folks who complain about the temporary extension of the Bush tax cuts always conveniently forgot that what President Obama got in return was for the 99%.

[Mimosa]

83. Jobs would be far better.

Health care for all would help many of us who aren't poor enough for medicaid but can't afford 800+ a month for health insutance.

[ClarkUSA]

84. September 2011 marked the 19th consecutive month of private sector jobs growth.

That's a fact from the Bureau of Labor Statistics' October 7, 2011 press release.

Have you run out of goalposts yet? On second thought, forget it. Your obvious bias against President Obama is boring me. I've proven my point enough against the perpetual purveyors of false narratives.

[Number23]

98. And I guess we're all supposed to have forgotten about the stimulus

and his saving of the auto industry which saved tens of thousands of American jobs.

I guess we're all supposed to also forget that in addition to that 19 months of job growth, he has also created a jobs plan that is being shot down in both houses as we speak. But no, the naysayer are right. He hasn't done ANYTHING about jobs.

[ClarkUSA]

100. Unfortunately for the residents of Blame Obamaville, Obama supporters have very good recall of facts

;)

[dflprincess]

88. One year of unemployment benfits (but nothing for the 99ers)

and two years of tax cuts for the wealthy.... Who came out better on that deal?

[ClarkUSA]

97. Bullshit. Are the unemployed not in the 99%? And wtf do you think the payroll tax holiday was for?

I'm in the 99% and I'm getting enough back this year to pay for a month's mortgage and property taxes. Republicans bemoaned it as Stimulus 2.0 last December after they finally figured out the WH's Trojan Horse. The payroll tax holiday will inject a far larger amount into the economy than the first stimulus.

[dflprincess]

102. By "99ers" I was referring to the people whose unemployment benefits

ended after they hit 99 weeks. Nothing has been done to help them.

The payroll tax "holiday" is nothing but an sneak attack on Social Security and, in the long run, may come back to hurt the 99%.

[Arkana]

106. He never said he would fight for single-payer, and the Bush tax cuts would not exist

if the Republicans hadn't held Congress hostage for months over them.

[ClarkUSA]

69. W.H. with the '99 percent'-ers: Pres. Obama said he "sympathizes with protesters' broad grievances"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x799053

[ClarkUSA]

70. Standing up for the 99% --> Pres. Obama to GOP: Rolling back Wall Street reform is not a 'jobs plan’

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=799557&mesg_id=799557

[ClarkUSA]

71. FACT: Pres. Obama's Wall Street Reform's "Volcker Rule Unveiled: May Slash Wall Street Bonuses"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x799121

[ClarkUSA]

72. He always has and still does --> "President Obama Acknowledges Wall Street Protests As A Sign"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x799057

[Sheepshank]

73. Seriously, anyone would think there is a serious arugment to be had

in that Obama could publically call himself a 99%'er? The OP and a half dozen more here on DU alone would have a thrombosis if Obama dared to assume he could be one of the 99%.

Oh Gawd, really? The op would allow Obama to label himself as a 99%'er ever...with or without Geitner?

Just another Obama set up. UNREC

Now supporting the 99%'ers is a whole 'nother matter, and I am satisfied with the way he has acknowledged that movement................even while Geitner is on board.

[Recursion]

105. He's certainly not in the top 1% of the country by income

So, I don't see why somebody wouldn't call him a 99%er.

[Name removed]

76. Deleted message

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[ncteechur]

82. Please..Dylan Ratigan? This is like posting from FDL in the past.

[johnaries]

91. Geithner is not the problem, Republicans are! They are the ones

who keep blocking any meaningful legislation that would do any good.

[Safetykitten]

94. Pretty obvious this is correct.

[Jakes Progress]

96. K&R for truth in the face of denial.

[Honeycombe8]

101. That's what SHOULD happen. But Obama won't openly fire anyone, I expect. BUT...

maybe, just maybe (after lots of "persuasional" protests by the public), he will appoint SOMEONE ELSE for Obama's next term, and let Geithner resign to "spend more time with my family."

[polichick]

107. It's not just Geithner. If the prez wants to stand with the 99%, he'll have to...

...do a lot of cleaning in the administration - replacing a lot of corporate hacks with public servants.

Will that happen? I wouldn't bet on it.

[opihimoimoi]

108. Fuck The RAT...he is a closet GOPer....never quote his ass

and Obama is with the 99ers as it is...so are the Unions....

The GOPers are struggling this year....knowing they got short changed when GOD was passing out Reason and Sanity, they hope to make it up with what works best for them...deciet and cheating....

They will lose their asses next year

[Cali_Democrat]

110. "never quote his ass"

I'll quote him if I want to, thank you very much.