Posted on 01/30/2009 6:59:27 AM PST by Sammy67
The Obama administration backed off Treasury Secretary Timothy Geithner’s statement last week that China is “manipulating” its currency.
In an interview with CNBC on Thursday, Vice President Joe Biden said the administration has made “no judgment” on whether the Chinese have manipulated their currency, an accusation that would have international legal ramifications.
“The policy of this administration is going to be to say to China, which occasionally the last administration was reluctant to do. `You're a major player on the world scene economically, and you've got to play by the rules that
(Excerpt) Read more at politico.com ...
Can it be any more obvious the top 2 guys in that administration don’t know what they’re doing?
It’s gonna be a long, bumpy four years.
God damned amateur hour at the WH continues...
Geithner is “China bashing” for pure show. Don’t we see it every time? Who knows whether he believes it or not.
Turbo Tax Timmy (as I have heard him referred to) is simply unwilling to allow the bigger banks fail. Instead he is supporting them over the smaller banks which is what you might expect from a Fed guy, not a Treasury Sec.
I think anyone following china's dollar peg for any amount of time has likely concluded that it is true, but since fedgov would like for china to help finance their debt, it is unwise to publicly say so. Also, my general rule of thumb is that chinese money has totally infiltrated our political system, so there are a number of people in government that go out of their way to accommodate chinese interest for more personal motives.
Owing people money sucks.
“Can it be any more obvious the top 2 guys in that administration don’t know what they’re doing?”
ROTFL ... me thinks you’re on to something there, friend.
Q. Why are all Democrat jokes oneliners?
A. So Biden can understand them.
Q. How are Democrats like noodles?
A. They are always limp, in hot water, they lack taste, and they need dough.
I've got to hand it to Joe "can't find his own ass" Biden - he really has the "talk to the Chinese government the way that you would talk to a small child" routine down pat.
Somehow, though, I doubt that the Chinese government is going to be impressed...
Can’t see any reason to describe the situation in any more complicated terms than you have.
We are at the point where we have to beg China for money after years of irresponsible monetary policy, so we can no longer tell the truth about them manipulating their currency for their own benefit.
I'm still trying to figure out what unique skills that Tax Cheat Timmy has that made it so vital that he become Treasury Secratary. He's only been in office a couple days and he's already screwing up.
And they aren't being managed by any adults who can keep their mouths under control.
The Muslim Undercover Brother, and his sidekick, Plugs, can’t piss off the Chinese before they secure the trillions in loans from them.
They know what they are doing. Geithner says today they are going to come up with one grand plan. All encompassing. That is what America needs. They berated Bush for ‘dribbling’ out legislation.
While I want as little regulation as possible our Country needs a detailed plan that encompasses many different recurring problems. There is some pretty straight forward legislation that could be passed that correct some of our problems, and stabilize the markets.
They are not going to do that. They will do the opposite and probably nationalize the banks in a ‘big bang’.
I hope i have to eat those words.
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