CNBC's Ratigan: Geithner ‘Soiled The Bed’

FinkelBlog ^ | Mark Finkelstein

[governsleastgovernsbest]

Pres. Obama might have his ardent admirers, but his Treasury Secretary’s performance before the Senate yesterday has been universally panned. No one, though, is likely to outdo Dylan Ratigan when it comes to giving a scatological thumbs down to Tim Geithner’s tap dance.

Ratigan, of CNBC, was a guest on Morning Joe today. Asked by Joe Scarborough to describe yesterday’s performance by Geithner, Dylan twice used the expression seen in the headline. The screencap shows Mika Brzezinski’s mortified reaction to his earthy choice of words. Ratigan can’t be accused of springing an unwelcome surprise on his hosts, since as you’ll see from the transcript, Joe expressly invited Dylan to repeat what he had earlier said off-air.

View video.

[governsleastgovernsbest]

[governsleastgovernsbest]

Poopy ping to Today show list.

[Constitution Day]

Mika is such a drama queen.

[Badeye]

As I’ve been noting, incredulously, for the past couple of weeks, the MSNBC ‘Morning Joe’ program is not enamoured with the Obama stimulus package, far from it.

When a airhead like Mika ‘I got into college because of my name, not my grades’ Brezenski understands this isn’t bi partisan, and won’t work, its telling.

[Dr. Ursus]

The Truth-Liberals can’t handle the truth!

[Liberty Valance]

Telling screen cap. Thanks for posting glgb ;o)

[Vaduz]

Or facts such as obama being an idiot

[xcamel]

Timmy the turbo tax cheat...

[Raster Man]

At first, I thought Geithner could not be so stupid that he wouldn’t know to pay his income taxes, that he knowingly avoided paying them. Now, I am not so sure. This guy is just plain dumb and in way over his head. Then, we have Premier 0bama telling me about the economic consequences, this coming from a man who didn’t take a college-level math course, much less a simple economics course. WTF is this country going to do?

[Bloody Sam Roberts]

You can't bullshit financial people. So when you say, "I have a plan".....they will ask, "What are the details? How will it be implemented? and How much will it cost?"

And when they do, you'd best have answers ready. You can't do a Kramden and say, "Hominuh, hominuh, hominuh..."

Otherwise, they'll react negatively...like they did yesterday when the market tanked.

These new a-holes in the White House think they are sooo friggin' smart that they can simply baffle with bullshit rather than dazzle with brilliance. Well, school's in session guys. And they are getting some hard ass lessons. Too bad we're the ones who will pay for their hubris.

Start stocking up on tar and feathers.

[ichabod1]

Try to run out the clock. Oppose, deny, mislead, make counter-accusations.

[MrB]

Is it the “lack of detail” like the MSM is spinning it,

or that the whole idea is just plain WRONG.

[CaptainAmiigaf]

This guy may be correct BUT-—remember WE ARE ALL SHARING THAT BED!! Sleep well, if you can.

[CaptainAmiigaf]

Read my post to your Mrs.

[McGruff]

Post Scarborough commentary during the first few mins. of the show. He tore Geithner a new orifice.

[Danae]

More accurately, Liberals should be treated like children not yet potty trained. Put in Diapers and given their binkies, Barney frank and Maxine Waters coming to mind first followed closely by 9% Nancy and stinky Reid.

[nyconse]

You got it backwards...Wall Street wants to be relieved of all their toxic assets...bad bank or fed loans (so they can buy the toxic crap and gamble once more)-one or the other at taxpayer expense. The street has been essentially black mailing the government-’we are really going to tank if you don’t make our bad stuff go away’...good for the Feds. You can’t have banks trying to foist more of their bad investments on the taxpayers or blackmail the government. Despite Wall Streets hissy fit yesterday, this is good news for taxpayers.

[SouthernmostFreeper]

The above caption made my morning. I can’t stand that Harpy
Thanks for posting.
BTW, check out the new SONY P.O.S.
http://www.youtube.com/watch?v=8AyVh1_vWYQ
It’ resembles the stimulus plan if you ask me.

[rbg81]

You can’t bullshit financial people.

---

Really? So....how’d we get into this mess in the first place?

[governsleastgovernsbest]

Thanks, SF: glad you enjoyed it!

PS: your screenname intrigues me. I assume you’re posting from Tierra Del Fuego ;-)

[Hacklehead]

I don’t get it. “Soiled the bed” is considered a horrifically offensive term?

[governsleastgovernsbest]

Euphemism for “take a dump.”

[Hacklehead]

“Euphemism for “take a dump.””

Thanks. I knew what it meant. It’s not like he said “crapped on the bed”. As euphemisms go it is pretty mild, and there are many ways to “soil a bed” without excretia.

[kenavi]

You got it backwards...Wall Street wants to be relieved of all their toxic assets...bad bank or fed loans (so they can buy the toxic crap and gamble once more)-one or the other at taxpayer expense. The street has been essentially black mailing the government-’we are really going to tank if you don’t make our bad stuff go away’...good for the Feds. You can’t have banks trying to foist more of their bad investments on the taxpayers or blackmail the government. Despite Wall Streets hissy fit yesterday, this is good news for taxpayers.

Gotta get those banks out of the hands of the ones who have been running them.

[nyconse]

This is so true...I know I am in the minority, but I’m glad they are not getting the sweet deal they demanded because it would only encourage more bad behavior.

[editor-surveyor]

"You got it backwards"

I think that you will soon be forced to admit that you got it backwards.

"Wall Street wants to be relieved of all their toxic assets...bad bank or fed loans"

And that is exactly what this false "stimulus" will do.

The pre-election crisis of last September was contrived by the grossly wealthy manipulators (Soros, Gates, Buffet, & Co.) for the sole purpose of electing their chosen Marxist Socialist. The 'stimulus' will now repay them for their losses.

"Despite Wall Streets hissy fit yesterday, this is good news for taxpayers."

No, 'Wall Street' in this case is us; you and me, and we didn't have a hissy fit; we faced the reality that freedom ended yesterday, world wide, and the global wealth transfer from us to them has begun in a big way.

[Night Hides Not]

Post Scarborough commentary during the first few mins. of the show. He tore Geithner a new orifice.

You could tell by the look on Joe's face at the opening of the show that he was really PO'ed over Geithner's performance.

What "moral authority" the Obama Administration has on the economy is slipping away. Geithner was supposed to be the "most uniquely qualified man for the job", and that was the reason given for confirming him in spite of his tax issues. That veneer was stripped away yesterday.

[Bloody Sam Roberts]

Is it the “lack of detail” like the MSM is spinning it, or that the whole idea is just plain WRONG.

Yes.

[governsleastgovernsbest]

Sorry about that: I didn’t properly understand the question.

[Bloody Sam Roberts]

Really? So....how’d we get into this mess in the first place?

You're right. Al Sharpton, Jesse Jackson, Phil Graham, Barney Frank, Christopher Dodd had absolutley nothing to do with this mess.
Yes, greed in the financial sector had a lot to do with it as well as irresponsible spending/lending. But getting into this mess and saying you have a plan to fix it while blowing smoke and waving mirrors are two entirely different things.

[nyconse]

Nonsense...there is no conspiracy (what is Rush thinking)-just a bunch of Wall Street traders who thought New York was Vegas. Wall street realized yesterday that the feds were not going to foist the toxic assets on the taxpayer and let the people who caused this mess face no consequences... We are not ‘Wall Street’ either...they are a force unto themselves...good for the feds.

[TexasCajun]

I really like Mika. ...maybe one day she’ll have an ‘awakening’?

[TexasCajun]

The Community Reinvestment Act (CRA)

I believe it all begins with this.

[kenavi]

Here's some support for your position, "Why Geithner's Graveyard Touch May Be Just What is Needed"::

http://finance.yahoo.com/news/Why-Geithners-Graveyard-Touch-usnews-14320840.html

How's this scenario. Bank company stocks get turned over, as disappointed investors, who put the current Boards in place, sell off to bottom fishers. Those bottom fishers put in new Boards, who bring in new CEOs. Those CEOs can negotiate with the Federal government as parties unsullied by the past mistakes. The private and public party work out deals to shed bad assets, recognizing the losses already built into the share price. Leaner bank companies emerge, and the CEOs leading them are work-out specialists who knew what they were signing up for. We are all better off.

[rbg81]

getting into this mess and saying you have a plan to fix it while blowing smoke and waving mirrors are two entirely different things.

---

We got into this mess either because:
1. The people who manage these Financial companies ignored, forgot (or were pressured into junking) their own standards. In this case, they BSed themselves
2. They were BSed by the guys with PhDs in Math or Physics who sold these models. No doubt smart guys, but the models are worthless if the underlying assumptions are incorrect

So, if they got fooled once, they are capable of being fooled again—especially now that they are panicked and under the microscope.

[governsleastgovernsbest]

Mika has, surprisingly, been pretty consistent in her criticism of the bailout/stimulus.

[jacquej]

Perhaps we should refer to it as the Community Reinvestment Act Program?

I like that acronym better.

[China Clipper]

"soiled the bed"

hehehe I have always loved that expression. (the REAL one)

I think the US military has some of the BEST descriptive phrases in the English language. Not usually "politically correct", but always good for a laugh....

[nyconse]

I agree with it...these banks need to get leaner because their old way of making money is gone...no more easy credit, limited market for derivatives...how will they make money? No kidding, they need a viability plan.

[nyconse]

Also, thanks!