Geithner = LOSER
What a LOSER!!!
Not only that he thought that not paying his taxes would pass unnoticed …
He had to present a plan to “save the planet” …
and came EMPTYHANDED!!!
Talking numbers does not help … the truth …
He is a LOSER … as Bernanke … NO charisma … NO market knowledge …
Just backup muppets …
If we find out that Obama is a “hot-air-talker” as well …
C R A S H …
New lows seemingly are booked … maybe quicker as everybody thought!
Stupidity keeps ruling …
Thanks to Mr. Geithner and Mr. Bernanke …
Februar 11th, 2009 at 08:56
hello oly,
Last night a friend was looking through The Great Reckoning, a book by Davidson and Reese-Moog published around twenty years ago that that argued that a big drop in real estate prices could weaken financial institutions and cause a financial crisis. The authors said this:
“Congress has gambled the good credit of the country by writing trillions of dollars of coverage against the fall of real estate prices in the United States. If real estate continues to weaken broadly or very far, the consequences could be more serious than most investors have imagined…
To put it another way, the government is like a highly leveraged futures trader who has bet everything on the proposition that a certain price will rise. If the market goes the other way, as we think it will, the power of leverage could be brought into play to create loses of an unmanageable kind.”
To be sure they got the timing wrong. They thought the bubble would burst in the 1990’s not the late 2000’s(the bubble doubled in 10 years!), but we can all wish we’d taken their warning to heart this time last year. By the way, they also argue that stimulus and easy money won’t work in preventing deflation, partly because it would have to stop before it turned treasury securities into junk bonds and inflated the currency into worthlessness. Of course they could be wrong. There could be a point where deflation has been halted without triggering ruinous inflation. But can the politicians find and hit that point?
Februar 11th, 2009 at 15:07
Maybe you should send a copy … marked “URGENT” to Obama, Geithner & Bernanke
Thanks for your input!
Februar 12th, 2009 at 17:54
Geithner just didn’t give the trillion handout the banks expected. The 1 day delay was already a hint that they were still negotiating behind the curtain.
Februar 12th, 2009 at 20:17
Sorry … He just had NO plan … and to be honest … he lacks knowledge … and … even worse … like Bernanke … his name already is damaged … so bad choice … poor Obama