Tim Geithner and Larry Summers need to be fired yesterday

[AllentownJake]

Also anyone who has had any employment history with Goldman Sachs needs to be removed from any branch of government, their hard drives seized and handed to the FBI for analysis.

It is becoming more and more apparent there is a cabal of Goldman Sachs banksters in both administrations that have been rigging the system for their own profit.

When Bill Maher, Max Keiser, John Stewartt, and Glenn Beck are all saying the same things and making the same connections there is a problem.

[FrenchieCat]

1. I know how you feel.....

but when were Geithner and Summers employed by Goldman Sachs?

[AllentownJake]

3. Geithner's chief of staff

is from Goldman Sachs.

The two have either been complicit or naive to the fraud. They have failed their President.

[FrenchieCat]

5. Failure is not an option, and I don't think that can be said as of yet....

I think that the buying into pessimism is self defeating.
meanwhile, I've gotten my mortgage modified with a 1.3% interest rate,
my daughter has received a 5 year fellowship studying for a PHD via the stimulus,
Folks' 401K are looking better than at the beginning of the year,
the saving's rate has increased to 5% as of late,
bank regulations including some for derivatives are in the works,
the minimum wage increases this month,
a union bill appears in the works (compromised but still with effect),
health care reform with a public option is on the horizon showing as deficit neutral,
and a New Supreme Court Judge who appears to be left of center will be confirmed.

In otherwords, I'm very "hopeful".

[AllentownJake]

6. I'm buying canned goods and shot gun shells

The worst that can happen is I go hunting and I give canned goods to the homeless shelter in a year.

[FrenchieCat]

8. Good for you.

Good for the economy too!

I've noticed that retail sales are going up....
and billions from the bailouts are now being paid back.

I realize that this ain't what you envisioned....
and the economy may not rebound right away,
as we were warned that it wouldn't...

But I didn't expect a socialist to appear "presto" after January 20th, in the oval office....
so I already understood that those in charge of the treasury would continue to be capitalist,
as had been the case since who knows when.

[AllentownJake]

10. This isn't fucking capitalism Frenchie

Rigging the system for one firm is not capitalism.

I'm not looking for a fast rebound. If the President does not stop this he is a failure and I will actively campaign for a primary opponent in 2012.

[FrenchieCat]

15. I think that you should do that......

Campaign for a primary opponent in 2012.

By then, the things you have said today will be seen as premature, alarmist and incorrect.

Till then.

[AllentownJake]

17. You don't find this is as a warning sign

That someone who has an accounting and finance degree and studied economics and was one of his biggest supporters, think his policies are only slightly better than Bush's

[FrenchieCat]

21. There are many who say a lot......

I even recall those who said that Obama could never become President.

I am an open minded liberal who believes that things are not as simple as they seem,
and that the changes that Obama promised were not including a total overhaul of how things work in this country to the kind of extreme that you may have envisioned. Considering that you were expecting a radical to show up at the Oval office on January 20th, I understand your disappointment, but know that it is YOUR disappointment, and your view is not shared with as many as you might wish.

[Enthusiast]

12. I will return to 'hopeful'

when the financial services industry is hit with strong regulations that emphasize transparency, real transparency.

[elehhhhna]

42. nicelist, Fc Thanks!

[truedelphi]

4. In your world, never. In other people's world, the connections are

Obvious.

Geithner is a protege of Rubin, who was highly involved with Goldman Sachs. Also within a week of Obama stating that no one with industry ties could be in his WH, Geithner appointed a Goldman Sachs fellow to become his Chief of Staff. (Of course, Geithner never has been one for following rules - he didn't even file his income taxes!)

You can get a lot of decent information including Stiglitz interview and his appraisal here:

http://tinyurl.com/n8oh98

Might be mind blowing for you, but it is never too late to learn somthing.

[truedelphi]

2. That would be nice, but Goldman Sachs now is our government.

Removing those two would only mean that even more odious (by comparison) replacements would come strolling out of the bowels of the Chicago School of economics.


What really matters is the Ron Paul Bill to audit the Federal Reserve comes to pass..

It is HR 1207 and Senate Bill 604.

Then the resulting media coverage just might make most Americans wake up and understand the real problem.

Paul is something like 22 fellow House colleagues away from having that audit required.

[Kalun D]

7. Hiding in Plain Site

the Bankers have owned the government for a long time

It's gotten so bad lately though they're right there in plain sight.

[liberalmuse]

9. President Obama is smarter than this...

and I've no doubt they will be fired within two months.

[AllentownJake]

11. Lets hope

[PurityOfEssence]

32. Let's analyze that statement

Once again, he is the other-worldly visionary mega-genius who can do no wrong and whose motivations and morality are above question.

So, is he "smarter" because he won't risk having those who are too unpopular around for long? Is he smarter for finally realizing the obvious, that these guys are dirty as sin and literally principal players in the deregulation frenzy and greed entitlement? Is he brilliant in the Greenspanish way for finally seeing that his assumptions about the inherent fairness and wisdom of the marketplace are a colossal mistake? Is he brilliant for knowing when to seek cover?

He can't have it both ways, much as that's his obvious strategy in most things. Either they're doing his bidding and he's either part of the problem, willing to enjoy the monied aristocracy's support in return for not intervening or out of control and having subordinates make policy. None of these is a particularly good scenario.

Let's start the clock running: you say that he'll OBVIOUSLY fire BOTH of them before September 18th. I don't think he CAN, by his own definitions of power. Just as he has to prove himself steadfast and not a spineless liberal by pursuing the ultra-stupid war in Afghanistan, I feel he has to stay the course with these smiling charlatans until they're forcibly removed by another economic disaster. Even though I do foresee more financial reckonings, I don't necessarily see another calamity in the next two months. Then again, we shall see.

The elaborate mental contortions people engage in to continually reaffirm that Obama's truly on the side of the little guy and not the big money blocs are amazing. It's like the celestial mechanics people conjured up to "prove" that everything revolved around the Earth. It made perfect sense that certain planets and stars stopped in their tracks, reversed course and did all sorts of elaborate maneuvering because they had made their conclusion and they merely had to make observed reality conform to the preconception. It's the same thing.

It might just be that he's deeply misguided in thinking that the market HAS to be the only way things can be done. He might even be cynically working as their fellow traveler simply because he sees no other way to attain or retain power without them. Maybe he's a deeply moral type walking a tightrope to find the moment to nudge things in the fairer way, but maybe he isn't. It's too early to tell.

[AllentownJake]

34. Uh-oh

you used logic.

[FreakinDJ]

13. Tough cross over from the "Re-Fi" economy Bush handed US

I've been here at DU preaching to the choir about the "False Re-Fi Economy" since 03. If you didn't see this coming then you were not here reading the post on DU.

We've had 6 solid years of digging in a hole via Bush economic doctrine, and 20 years of anti-labor sentiment brought on by Ronny Ray-Guns Reagan before that. Is it too much to ask to give Obama 2 full years to turn this thing around?

How about just 1 full year before you cry uncle

[AllentownJake]

14. His picks to manage the economy

Are two of the people who got us into this mess...forgive me for being skeptical.

[FreakinDJ]

16. I hear you loud and clear

What is the old saying

"Keep your friends close and your enemys closer"

At least this way Obama has them some what under his thumb rather then across the street throwing rocks at him

[AllentownJake]

18. Bull shit

He's a lawyer not an economist. He's relying on these clowns for advice and he's following it.

[FreakinDJ]

24. He picked Hilary didn't he

"Keep your friends close and your enemys closer"

[AllentownJake]

26. Hillary on FP would not have been a disaster

and I believe you would have voted for a President Clinton if she had won that primary battle...wouldn't you?

[FreakinDJ]

37. That would have been a "Very Tough Sell"

Hilary - Ex Corporate Lawyer for WalMart Inc, and her husband Bill Champion of Most Favored Nation Trading Status for China were advocates of the same Globalization / Deregulation / Free Trade Bullsh!t your ranting about.

Notice the "Jobs of the Future" he promised steel workers as he advocated the demise of America's steel industry are all in India and China now. Barack gives me the same warm fuzzies when he talks about the "Green Future Hi Tech Jobs of Tomorrow" Which will be outsourced quicker then you can spit.

What sold me on Barrack was 2 things

1. His commitment to community service, where I am positive he saw the need for jobs in the Black community. I believed Barrack saw job creation as a means to help all American Working Class citizens and the only means to relieve some of the intercity blithe

2. His promise to "Re-evaluate" some of the loop sided trade deals Clinton and Bush got us into. The same Globalization crap that got us into the current economic mess.

So No, if it was Hilary - I would have stayed home

[FrenchieCat]

19. You are beyond skeptical....you have tried and judged and convicted

You digs for any evidence of future failure in every single speculation and reading of tea leaves that you can find. You already have a mindset, and only look for what helps you confirm that mindset. In otherwords, you are not an open minded liberal, you are a closed minded cynic.

[AllentownJake]

20. He's a constitutional lawyer

a brilliant lawyer and a good public speaker. He is a great diplomat. He is not an economic genius.

The people he has surrounded himself with are the same people that are responsible for the crisis.

[FrenchieCat]

22. I didn't call Obama an economic genius......

But he isn't as stupid as you make him out to be either. That's why yours is an extremely pessimistic view....cause you actually do believe that Pres. Obama doesn't know what he is doing, and is either a stupid man or a man in cahoots with monied interest....

I firmly believe that he will prove you wrong.

[AllentownJake]

23. Naivete and stupidity are two differnt things

I hope to God your right...because right now you aren't

[FrenchieCat]

25. And you aren't right either.

and I still have a modified mortgage with a 1.3% interest rate,
my daughter has received a 5 year fellowship studying for a PHD via the stimulus,
Folks' 401K are looking better than at the beginning of the year,
the saving's rate has increased to 5% as of late,
bank regulations including some for derivatives are in the works,
the minimum wage increases this month,
a union bill appears in the works (compromised but still with effect),
health care reform with a public option is on the horizon showing as deficit neutral,
and a New Supreme Court Judge who appears to be left of center will be confirmed.

[AllentownJake]

27. I've praised him where he has deserved it

He gets a D- on the economy.

[FrenchieCat]

28. Like you said, you will be campaigning for another during the 2012 primaries....

that is your choice now in July of 2009.

Nuff said.

[AllentownJake]

29. I said if this continues

[northernlights]

52. and I still don't have a job

. and my bank account will be empty in a few weeks
. and now I can't take out an uncertified student loan because the banks still aren't lending
. and I still can't sell my home because in the name of bipartisanship (over success) Obama let Snowe & Collins gut the stimulus

I don't expect Obama to turn the economy or the country around in 6 months. I didn't expect him to get us out of Iraq in 6 months. I didn't expect him to empty out Guantanamo in 6 months. And I *knew* Hillary would be a good team player and great SOS.

But I have serious issues with many of his pics. Such as Goldman-Sachs running the economy (to enrich themselves). Also with Monsanto in charge of food safety.

[earth mom]

30. You're not going to get much support for this in GD-P. Try GD. nt

[AllentownJake]

31. It needs to be said here

I'm not looking to be on the Greatest Page.

[earth mom]

33. Good for you.

:patriot:

[Vidar]

35. I wholeheartedly agree.

[Tarheel_Dem]

43. Well of course you do. A quick search of your posts, no matter what the topic, as it relates...

to this president, shows your mindset, so your disapproval comes as no big shock. You seem to be a big fan of Chavez, perhaps you'd be happier under Venezuelan rule?

[AllentownJake]

45. Why does that poster hate America

:sarcasm:

[Tarheel_Dem]

46. See ya in 2012. I'm assuming you'll be the one wearing the Dems for Palin t-shirt?

:rofl:

[AllentownJake]

47. Have fun recruiting volunteers from the armies of unemployed

I wonder if the Goldman guys are good at knocking on doors?

:rofl:

[Tarheel_Dem]

48. Didn't know you had a crystal ball as well. I'm impressed. You already

know what 2012 looks like. Tell you what, if you wish hard enough, we might reach 60% unemployment, and you get to say...see, I was right. YAY! You guys crack me up. I don't think there's a modern day president who has been as underestimated as this one, and time & time again, he's beaten the odds, and made the cynics scratch their heads.

'Palin/AllentownJake 2012'. Rah! Rah! Rah! :applause: Say hi to Joe the Plumber. :rofl:

[AllentownJake]

49. Motherfucker

I put more hours into Obama than most people on here.

I think you should take some concern that one of his leader in his campaign on a local level is saying a change in direction might be needed.

Of course I could be wrong.

[Tarheel_Dem]

50. Oh yeah. You were the only one. Obama owes his election to AllentownJake.

:eyes:

[Vidar]

51. I've arrived! I have my very own stalker. Mr. DeMille, I'm ready for my closeup.

[Ikonoklast]

36. I don't base my opinions on what talking heads on the idiot box say.

And this is a marathon to run, not a 100 yard dash.

The economy will turn around, but not this very second.

But Goldman Sachs needs to be brought to heel, and soon.

[AllentownJake]

41. I'm not expecting a quick turn around

nor did I ever expect one, however the obscenity that is Wall Street will kill any recovery if it is not dealt with...quickly and ruthlessly.

[Raineyb]

53. You can't really expect Goldman Sachs to be brought to heel

by a government that has so many of its former employees on the payroll. That's like expecting a government that's run by oil men to have an energy policy that doesn't benefit the energy companies at the expense of everyone else.

[MasonJar]

38. They should have never been hired in the first place. Where are the

new rules we were promised that would stop this happening again? They'd better be careful. If the banks screw us over again, there will be a revolt and there should be. If the government does not impose significant reforms and regulations, it will happen again and there they (bankers and our elected officials) will all be with their greedy little hands in our impoverished pockets. Geithner and Summers and apparently Obama have no intention of reining in these bas___ds. What Goldman did was outrageous. Apparently Goldman insisted Paulsen save AIG, because the latter owed the former billions, but did not want Lehman saved, since that loss was to their advantage. These people (government and bankers) have no consciences. Their souls are shriveled.

[camera obscura]

39. Two words: Sheila Bair

[mvd]

40. I thought Obama put them in place because..

insiders would have a good idea of the way out of things. So far, though, IMO they haven't been very helpful or brought new ideas. The President knows more about economics than I do, so I'll reserve judgment on firing them.

[invictus]

44. K&R