http://www.freerepublic.com/focus/f-news/2436736/posts
Timothy Geithner warns of Ben Bernanke fallout
Politico ^ | January 24, 2010 | Mike Allen
Treasury Secretary Timothy Geithner warned that the financial markets would view a Senate rejection of Ben Bernanke’s renomination as “very troubling” but said he’s sure the embattled Federal Reserve chairman will prevail.
“We’re very confident that the chairman will be reconfirmed by the Senate, and we think it’s very important he be reconfirmed by the Senate,” Geithner said Friday in an interview at the Treasury for POLITICO’s new video series, “Inside Obama’s Washington,” debuting Monday.
“He’s done a remarkable job of helping steer this economy out of the great recession. And I think he’ll play a very important role in helping in the success of our efforts to try to make sure we are bringing this economy back to durable growth.”
Asked about possible market reaction to a defeat, Geithner said: “I think the markets would view that as a very troubling thing to the economy as a whole. But, as I said, I don’t think they should be uncertain. I think they should be confident because we are very confident he will be reconfirmed.”
Bernanke is having such a rough time, Geithner suggested, because the country is “in a moment where people are incredibly angry and frustrated by the damage this crisis caused.”
(Excerpt) Read more at politico.com ...
When in the history of the United States has there been a credible movement to remove both the Chairman of the Federal Reserve and the Secretary of the US Treasury?
The answer is never since the invention of the private bank, the US Federal Reserve.
J. Sinclair 1/23/10