His plan is in the very early stages of implementation, and most economists say it is an excellent plan. You certainly are biased that you don't even give someone a chance.
Let's get real:
Geithner's Plan | Mother JonesByline: Kevin DrumGEITHNER'S PLAN....Treasury Secretary Tim Geithner was pummeled last week for offering up a vague and unsatisfactory plan for dealing with ...
www.motherjones.com/kevin-drum/2009/02/geithners-plan - 64k - Cached - Similar pages
Damn right wing bigots at Mother Jones. They must have been listening to Rush too much. LOL
News results for geithner plan
Late Change in Course Hobbled Rollout of Geithner's Bank Plan - Feb 16, 2009
The sharp course change was one of the key reasons why Geithner's plan -- his first major policy initiative as Treasury secretary -- landed with such a thud ...Washington Post - 132 related articles »
Note to the President and Tim Geithner: We Need A Plan. Now. - FOXBusiness - 39 related articles »Geithner Bad Bank Alternative May Rely on Loans to Hedge Funds - Bloomberg - 5 related articles »
Geithner Plan Lacks Freshness And Clarity - washingtonpost.comIn rolling out his overhaul of the financial rescue yesterday, Treasury Secretary Timothy F. Geithner lambasted the Bush administration's response to the ...
www.washingtonpost.com/wp-dyn/content/story/2009/02/10/ST2009021001270.html -
Marginal Revolution: The Geithner planFeb 10, 2009 ... I found myself remembering that joke when trying to make sense of the Geithner financial rescue plan. It’s really not clear what the plan ...
www.marginalrevolution.com/marginalrevolution/2009/02/the-geithner-plan.html - 47k - Cached - Similar pages
Andy Kessler Explains Why Markets Rejected the Geithner Plan - WSJ.comTimothy Geithner's plan to save the struggling banking system probably does the opposite, throwing good money after bad to a banking system struggling under ...
online.wsj.com/article/SB123431465155370931.html - 85k - Cached - Similar pages
Geithner's plan falls flat
The Treasury Secretary's financial stability plan is underfunded and woefully short on details, experts said.
Colin Barr, senior writer
Last Updated: February 10, 2009: 3:54 PM ET
....
NEW YORK (Fortune) -- Treasury Secretary Tim Geithner failed Tuesday to persuade Wall Street that he will succeed where his predecessor Henry Paulson failed.
Geithner outlined the administration's plan to restart frozen credit markets and bolster the health of troubled banks. He said the economy will recover from its swoon only with the help of healthy financial institutions.
But observers said the Obama administration's plan is neither well-funded enough to recapitalize troubled banks, nor detailed enough to assure investors that the government can solve the toxic asset problem plaguing banks.
That, in part, is why stocks fell so sharply after the plan was unveiled, with the Dow Jones Industrial Average and other major indexes plunging more than 4% in mid-afternoon trading.
"This policy is just inadequate," said Chris Whalen, a managing director at financial research provider Institutional Risk Analytics. "The first quarter is just going to be grotesque for the banks - and then we're going to have to have this discussion all over again."
money.cnn.com
Geithner's first test is a disaster
...few have failed their first assignment on such an epic scale as Tim Geithner, the new Treasury secretary.
On Tuesday afternoon, he delivered the most remarkable "dog ate my homework" excuse in the history of the U.S. financial markets, making it more plain than ever that the government simply has no idea how to end the financial crisis or how to reassure the world that everything will be all right anyway.
....
articles.moneycentral.msn.com
... Then there is Tim Geithner. Day Two of his bank bailout roll-out non-plan went as poorly as Day One, as he took to muttering and deflecting, never providing a detail or hint as to what he really has in mind. He kept repeating how complicated everything is. Well, yes, the Treasury Department is that way. I have to agree with Gail Collins who observes:
Everybody who watched Geithner explain how he was going to rescue the banking system thought he sounded like a callow youth. Where’s gravitas when you need it? Time to bring on Paul Volcker (81).
One can only hope this was some kind of practical joke from Larry Summers, gone awry. (”Yeah, and when they ask for details, just tell ‘em I don’t have any!’”)
This is an odd way indeed to combat a recession. Usually, the president and treasury secretary in an economic crisis try to project calm, certainty, and a sense of command. The Obama administration approach is something new indeed. Perhaps it is some Zen-like exercise to “be the panic; own the fear!” Whatever they are doing they should knock it off. They’re going to scare the living daylights out of markets, consumers, and businesses.
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