Posted on 08/04/2009 12:07:05 PM PDT by listenhillary
Treasury Secretary Timothy F. Geithner blasted top regulators in an expletive-laden tirade amid frustration over President Barack Obama’s faltering plan to overhaul financial regulation, Reuters reported, citing a Monday story in The Wall Street Journal. A person familiar with the meeting said that Mr. Geithner told regulators “enough is enough,” the newspaper said. The meeting took place last Friday with Federal Reserve chairman Ben S. Bernanke, Securities and Exchange Commission chairwoman Mary Schapiro and Federal Deposit Insurance Corporation Chairwoman Sheila Bair. The Treasury secretary said regulators had been given a chance to air their concerns, but that it was time to stop, the newspaper said, citing the person. A Treasury Department representative had no immediate comment. The Fed, the S.E.C. and the F.D.I.C. did not immediately return calls seeking comment. Mr. Obama in June unveiled a financial regulatory overhaul, sometimes called the biggest since the 1930s. Among other things, the plan would give the Fed added powers, award the government more power to break up troubled companies and create a new agency to oversee consumer finance. Many major banks and industry trade groups have criticized the plan, as have some regulators wary that any redistribution of power would reduce their own. According to the newspaper, Friday’s roughly hour-long meeting was unusual because of Mr. Geithner’s repeated obscenities and his aggressive posture toward regulators generally deemed independent of the White House. The newspaper said Mr. Geithner told attendees that the administration and Congress set policy. It also said the Treasury secretary, without singling out officials, raised concerns about regulators who have questioned the wisdom of giving the Fed more power. Ms. Schapiro and Ms. Bair have argued that more authority should be shared among a council of regulators.
(Excerpt) Read more at dealbook.blogs.nytimes.com ...
there’s my “fall-guy” thesis.
I want to see their heads start spinning when they don’t get their way.
I am just not impressed with Geithner.
Kinda like giving a murderer an extra gun....
Eddie Haskell is losing his cool.
Sounds like little Timmy Geithner is angry because no one will listen to him?
Poor baby.
That’s one of the things I find fascinating about liberals: “It’s going to be done, and it’s going to be done my way, or it’s the highway.”
Putz.
The fed needs to have more power in a cell block with Timmy,Ben and Henry.
He needs to visit Barney Frank, the Black caucus and Chris Dodd. They don’t see any problems with the Fed. I’m sure they would approve more power.
He wants the Fed to have more power,
because they answer to no one.
Where IS the video? All I get is a reporter talking about it. I want to SEE it.
Where are the minutes of this meeting? Timmy The Wunderkind works for us anything in this meeting should be public record.
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