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Old 24.01.2010, 01:57
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Did Tim Geithner get fired yesterday?

Here are the opening words from the Obama speach last Friday
"Good morning, everybody. I just had a very productive meeting with two members of my Economic Recovery Advisory Board: Paul Volcker, who is the former chair of the Federal Reserve Board, and Bill Donaldson, previously the head of the SEC. And I deeply appreciate the counsel of these two leaders and the board, that they’ve offered as we have dealt with a broad array of very difficult economic challenges"
No mention of Geithner nor Summers

You can see Geithner looking at his shoes at 1:02 minutes
Volcker and Donaldson similing
http://uk.reuters.com/news/video/pop...=75&pos=11.778

Full video here


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Last edited by irinastaxen; 24.01.2010 at 02:19.
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Old 24.01.2010, 05:08
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Re: Did Tim Geithner get fired yesterday?

who is Tim Geithner? does it matter?

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Here are the opening words from the Obama speach last Friday
"Good morning, everybody. I just had a very productive meeting with two members of my Economic Recovery Advisory Board: Paul Volcker, who is the former chair of the Federal Reserve Board, and Bill Donaldson, previously the head of the SEC. And I deeply appreciate the counsel of these two leaders and the board, that they’ve offered as we have dealt with a broad array of very difficult economic challenges"
No mention of Geithner nor Summers

You can see Geithner looking at his shoes at 1:02 minutes
Volcker and Donaldson similing
http://uk.reuters.com/news/video/pop...=75&pos=11.778

Full video here


What next?
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Old 24.01.2010, 08:38
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Re: Did Tim Geithner get fired yesterday?

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who is Tim Geithner? does it matter?
Who he is:
http://en.wikipedia.org/wiki/Geithner
Does it matter .... it will impact the future of some of US
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Old 24.01.2010, 09:32
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Re: Did Tim Geithner get fired yesterday?

I follow DC gossip pretty closely, and I haven't heard anything about that yet.

Honestly though, I think he's always been intended as a fall guy. I would look for him to be leaving in the next 1-2 years, with a much more populist replacement.
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Old 24.01.2010, 10:40
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Re: Did Tim Geithner get fired yesterday?

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Who he is:
http://en.wikipedia.org/wiki/Geithner
Does it matter .... it will impact the future of some of US
I just read the Wikipedia Link and read:
"Geithner was born in New York but spent most of his childhood in other countries, including present-day Zimbabwe".
Maybe that is where he got his monetary policy/QE solutions from

Last edited by Cashboy; 24.01.2010 at 14:21.
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Old 24.01.2010, 14:01
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Re: Did Tim Geithner get fired yesterday?

It might do some good to the US economy if he steps down...
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Old 24.01.2010, 14:32
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Re: Did Tim Geithner get fired yesterday?

Geitner has some reservations with the proposal to impose new regulations on the banks. He sees politics at play, rather than good economic policy. Besides, he may not have the necessary clout to reign it the whole banking cabal. On top of that, he still has the rest of his career in front of him.

Paul Volcker, on the other hand, is like a patriarch of the cabal. He has the political capital to see it through. And at the age of 83, the man does not have a whole lot to lose. He can work on the legacy he leaves behind.

If I understand Obama correctly, he isn't the kind of leader who would fire Geitner for disagreeing with him. I think he would only fire Geitner if Geitner undermines the government or the administration.
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