Tim Geithner BrainFart: ' NO RISK ' of AAA Downgrade!

[Segami]

Run time: 00:23 https://www.youtube.com/watch?v=CqgQukSK8ws   Posted on YouTube: August 06, 2011 By YouTube Member: 2kshark Views on YouTube: 222   Posted on DU: August 06, 2011 By DU Member: Segami Views on DU: 2146

 
"....Tim Geithner speaks to Fox Business news and says there is no risk of a us credit rating downgrade...."



.

[RKP5637]

1. Yep, illustrates yet again their lack of competence and how much they know. The

lights are off in the Captain's quarters, the ship is on autopilot heading for an iceberg. All is well serfs, not to worry.

[Segami]

5. " Heading for an iceberg " in an overloaded fiberglass boat if I may add.

[RKP5637]

8. Yep, a fiberglass boat, that ought to hold things together just fine! LOL

Good add!!!

:rofl:

[Vanje]

2. Fire that asshole!

[Segami]

7. That requires a person with testicular foresight to follow through on that idea.

[Name removed]

3. Deleted message

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

[Vanje]

4. Why? Obama , Why?

[pam4water]

6. +1

[Turbineguy]

9. When was this said?

April 11, 2011. The idea that the repubs would risk default was not considered either.

[Segami]

10. Actually, I believe he uttered those words on April 19 2011 (Reuters)

This illustrates how lax Geithner and the administration (back in April) underestimated extreme republican/tea party activism within the ongoing debt limit negotiations. They NEVER factored in the remote possibility of hardline tea party obstructionism. They failed to see this coming and when they did, it was way too late. Geithner should be fired!

http://www.reuters.com/article/2011/04/19/us-usa-ratings-geithner-idUSTRE73I3LJ20110419

[Turbineguy]

11. I gree they should be held to a higher standard

than us ordinary types. But in April I don't think we had an idea of how self-destructive the teabaggers are. Now we know.

And you are probably correct about the date. Thanks for the correction.

[dgibby]

15. Lawrence O'Donnell nailed it right after the 2010 elections.

Too bad Geithner and company didn't listen to him.

[frazzled]

12. Well, in a sane world there wouldn't be

Default was supposed to be the base line for the credit downgrade, and he was expressing his belief that it would never come to default (which it didn't ... so far). Second, it's the Treasury Secretary's job to not just instill confidence but to avoid panic. Back when he said this, who knew the Republicans would go as batshit crazy as they did, refusing to compromise on anything, including any kind of new revenues (even closing loopholes). Finally, who knew S&P, the kings of poor judgment on ratings, would suddenly decide that the US government, still the best investment around, was worth less that the credit default swaps they thought were absolutely golden.

I don't blame Geithner for his statement on any number of levels.

[seeker4ever]

13. Obama's Cabinet is Awesome!

[BiggJawn]

14. And we over-pay this ass how much a year?

Fire him. Any one of us would be sacked for less, and you know it.

[mzmolly]

16. Lots of people here said the same thing.

Oops.

[midnight]

17. Holy cats but we just keep taking it.... and the excuses of no one could of known ?

Really.... Why do you think, no one ,that has crashed this economy is in jail? They are still working at it... Nothing has changed... No policies to change the robbing of the American people was put in place....

[Segami]

18. The fact that NO ONE has been charged or arrested should be a very big red flag. Lets stop hiding

behind pacifying phrases such as " compromise and bi-partisanship " or that WE should be " looking forward not backward ". Addressing the Bush crimes WAS in fact " looking forward " and by doing so, Obama could have established a ' zero tolerance ' precedent that such criminal acts would NOT be tolerated by HIS administration. But instead, we allowed these war/ financial criminals to slither away as participants of the greatest heist of the People's wealth.