Thursday, August 6, 2009

did Geithner call them Nazis too?

He cussed at them liberally...pulling out the Nazis would be his next move, right?

From Damian Paletta and Deborah Solomon in the WSJ...

Treasury Secretary Timothy Geithner blasted top U.S. financial regulators in an expletive-laced critique last Friday as frustration grows over the Obama administration's faltering plan to overhaul U.S. financial regulation, according to people familiar with the meeting....

Mr. Geithner told the regulators Friday that "enough is enough," said one person familiar with the meeting. Mr. Geithner said regulators had been given a chance to air their concerns, but that it was time to stop, this person said.

Among those gathered in the Treasury conference room were Federal Reserve Chairman Ben Bernanke, Securities and Exchange Commission Chairman Mary Schapiro and Federal Deposit Insurance Corp. Chairman Sheila Bair.

Friday's roughly hourlong meeting was described as unusual, not only because of Mr. Geithner's repeated use of obscenities, but because of the aggressive posture he took with officials from federal agencies generally considered independent of the White House. Mr. Geithner reminded attendees that the administration and Congress set policy, not the regulatory agencies....

2 Comments:

At August 6, 2009 at 10:35 PM , Blogger Janet P said...

"Friday's roughly hourlong meeting was described as unusual, not only because of Mr. Geithner's repeated use of obscenities, but because of the aggressive posture he took with officials from federal agencies generally considered independent of the White House."

...Sounds like the attitude and actions of a desperate individual if you ask me.
I'm also wondering what he knows that we don't, and what it may mean for the dollar this fall.

 
At August 6, 2009 at 10:45 PM , Blogger Janet P said...

Here's an article I just came across:
"The Fed bought nearly half of LAST WEEK'S 7 Year Treasury Issuance TODAY"

http://market-ticker.denninger.net/archives/1304-BLATANT-Monetization-Uncovered.html

Sounds bad for the dollar.

 

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