Geithner admits he Screwed Up again

[democracy1st]

Treasury Secretary Timothy Geithner told CNN Thursday his department asked Sen. Chris Dodd to include a loophole in the stimulus bill that allowed bailed-out insurance giant American International Group to keep its bonuses.

In an interview with CNN's Ali Velshi, Geithner said the Treasury Department was particularly concerned the government would face lawsuits if bonus contracts were breached.



Dodd admitted to CNN Wednesday he'd added the controversial provision after a Treasury official pushed for it. Earlier in the week, Dodd had said he had not played any role in the addition of the loophole.

Geithner told Velshi Thursday he takes full responsibility for the situation.

Also in the interview, airing in part at 5 pm ET on CNN, Geithner said:


- He does not believe TARP or the stimulus bill was rushed through Congress

- Calls for resignation are part of the job

-Officials will make sure that any further money comes with provisions (including executive compensation)

-His team will have a detailed plan for the banks w/in the next couple of weeks

-The recession will likely end in 2009, and 2010 will be a year of growth

http://politicalticker.blogs.cnn.com/2009/03/19/geithner-treasury-pushed-for-bonus-loophole/


leave just go!

[LakeSamish706]

1. "leave just go!" What does that mean? n/t

[democracy1st]

3. means go back to Wall St

[HughMoran]

7. Yeah, where the fuck did that come from?

Did the person not read the article they posted?

:rofl:

[Thrill]

2. Geithner shouldn't go anywhere. He's not going to be the scapegoat for Bush's mess

This is a non issue if the Bush Administration had done their job at the time they gave AIG the first bailout. Thats when restrictions needed to be put on.

Democrats need to stick together and be on the offense. Not playing defense. THIS IS BUSH'S MESS.

[LakeSamish706]

4. I totally agree.. This is some how trying to be put over on Obama and his picks....

This is and always was a Bush F***up...

[FLyellowdog]

5. Does this explain anything any better?

:shrug:
http://www.dailykos.com/storyonly/2009/3/19/710701/-CNNs-reporting-vs.-CNNs-transcript

[PopSixSquish]

6. Well President Obama Just Gave Timmy "Big Ups" on the Tonight Show

so I retract my statement from a few night ago. I think Geithner stays for the foreseeable future.

[cottonseed]

8. Who replaces him?

[democracy1st]

9. Paul Volcker

[masuki bance]

10. "I think Geithner is doing an outstanding job,"

"I think Geithner is doing an outstanding job," Obama told host Jay Leno in an appearance taped for Thursday night. "He is a smart guy. He is a calm and steady guy. I don't think people fully appreciate the plate that was handed him."

I'll trust Obama's judgment on this. Thanks, anyway.

[Apollo11]

11. Reminds me of when Michael Brown was "doing a heckuva job"

And I guess I'm not the only one who sees the parallel.

[marshall]

12. At least the truth came out relatively quickly

I just hope this is all there is to the AIG mess. This shouldn't drag out past the weekend--the pundits can vent on the Sunday show and then move on to something else next week.