He’s right.
They know how to value their assets. All they have to do is sell a few at auction to private buyers. Each one has a history of payment and defaults and the market will value them if they are given a chance.
But, it won’t happen. As soon as there is a market then all the assets will have a known value and it is to ugly to imagine.
I think it’s supposed to.
He’s been saying this for a year now.
“But Rogers said Geithner, who was president of the New York Federal Reserve Bank, “has been dead wrong about everything for 15 years in a row,” and so was President Barack Obama’s economic advisor Lawrence Summers, who acted as Treasury Secretary at the turn of the century.
“It is mind-boggling to me,” Rogers told “Squawk Box Europe.”
“If I were on your show 15 weeks in a row and was wrong, you’d probably never invite me back. These guys have been wrong year after year”
It figures that Obama would pick people like this — his objective is NOT to revive the US economy, but to use the crisis as an excuse to push through his socialist agenda.
No, no, I was told Geithner was the ONLY person in the USA who was qualified to be Treas. Secretary.
A match made in liberal heaven.
I wonder if it's possible for POTUS public ratings to go below zero?
Me thinks we are soon to find out.
Yeah, no crap. The gov’t (even when it’s running an overall budget surplus) borrows from the bankers to fund operations. Now we’re expected to believe that the banks can borrow money from the government — which is running deficits.
It’s a scam.
Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks"
Geithner's plan falls flat (Amateur Hour in D.C.)
Geithner Unveils Revised Bank Plan (Cost now: 2 trillion and climbing)
US Stocks Slide As Geithner Unveils Bank Plan [Dow down 382 pts at the close]
US unveils new $1.5 trillion plan
Its high time to end the bailouts and let the chips fall where they are. Let the imcompetent institutions to fail and the efficient and wisely run institutions prosper.
Oh Mistah Present O'Bummer - I and my thirteen chilluns and five men friens needs a brand new dark chocolate pony or I will just die!
Oh Mistah Present O'Bummer - I needs your empty Hyde Park mansion in Chicago too!
Oh Mistah Present O'Bummer - I needs a lifetimes souply of Night Train and bean pies also!