Define "insanely evil..."
Posted on 10/15/2011 10:20:22 AM PDT by quesney
The U.S. plans on being an active partner as efforts intensify to get Europe get back on its feet financially, Treasury Secretary Timothy Geithner told CNBC Friday.
Getty Images U.S. Treasury Secretary Timothy Geithner With global leaders preparing for next month's Group of 20 nations (G20) summit in Cannes, France, the International Monetary Fund — of which the U.S. is the greatest contributor — is being relied on to help underwrite whatever efforts are needed to backstop toxic European sovereign debt .
Geithner said the International Monetary Fund (IMF) has "very substantial" resources to fund a device that could look like the Troubled Asset Relief Program, which helped navigate American financial institutions through the crisis in 2008 and 2009.
"Through the IMF, of course, we're already playing a very major role," he said in a live interview in Paris. "We're happy to see the IMF continue to play that role in support of a more forceful, comprehensive strategy where Europe's own resources—very ample resources—are deployed on a much more substantial scale."
The comments give a lift to U.S. stocks, which have been highly volatile in the past several months as proposed solutions have come and gone for the euro crisis.
(Excerpt) Read more at cnbc.com ...
Define "insanely evil..."
I thought Uncle Moneybags kicked the bucket...?
Can Obama get around Congress to accomplish this? The Republican house would still have to sign on to get the money appropriated, right? The answers to these questions used to be obvious but nowadays they just seem to be making it up as they go along.
Like the Aztec princes, who asked, after hastening the pace of sacrifices to the gods when the Spanish arrived, "Why isn't this working?"
Or the class of Roman officials who had embezzeled as much as they could while wrangling tax concession after tax concession from the emperor, and then asked, "Why don't we have money to pay an army to fight the barbarians?"
In brief: not a good sign regarding the health of our civilization.
We can all go bankrupt together I guess
Good thing Europe will be there to bail us out when we default.
Oh, wait... that doesn’t happen.
“”With global leaders preparing for next month’s Group of 20 nations (G20) summit in Cannes, France””
Goody! Goody! Michelle will get to go on another luxury vacation. Of course, her husband will go and she’ll HAVE to accompany him - with all her relatives and whoever in the heck the other 500-600 people are who always travel with her.
I ain’t so proud of my country anymore!!
Nothing is as it appears with Obama. This bailout is to protect large US banks who hold European debt. It’s like when they bailed out AIG in order to pay GS off.
If the roles were reversed EU-rope would ask for an ownership stake in our banks in return.
Why don’t we ever get anything for our nations benevolence? (re: Iraq,kosovo,afghan,pakistan....)
Yes.
One phone call to the Federal Reserve ought to do it. Well, actually, he might not even have to phone, they've probably already sent a trillion or two secretly on their own.
“You wanna quit spamming the Breaking News and Frontpage sidebars with every article you post?”
You call this spam?
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