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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Arran Yuan who wrote (58103)	11/20/2009 1:46:19 AM
From: TobagoJack	1 Recommendation Read Replies (1) \| Respond to of 217764

a 48 hours trip and look at what real time fun i missed, just in in-tray Here is a link to the hearing, for those who are interested: jec.senate.gov Treasury Secretary Timothy Geithner and GOP Rep. Kevin Brady of Texas turned a seemingly boring hearing on financial regulations into a messy fracas, when they traded insults over who was to blame for the economic crisis. Associated Press Treasury Secretary Timothy Geithner testifies Thursday before the Joint Economic Committee hearing on financial regulatory reform. (AP Photo/Jose Luis Magana) At a Joint Economic Committee hearing in Congress, in which House and Senate members sit on a panel, Brady opened up his questioning by telling Geithner that Republicans, Democrats, and the American people had lost confidence in him and asked him to resign. “It is a great privilege to serve this president,” Geithner responded. “I agree with almost nothing you said.” Geithner then took it a step further: “You gave this president an economy falling off the cliff.” Brady wasn’t done: “Remind me, Mr. Secretary, what post were you holding when President Obama took office?” Geithner: “I was the President of the Federal Reserve Bank of New York.” In that job, Geithner oversaw supervision of top Wall Street banks and played a lead role in the government’s response to the financial crisis last year. He stepped down late last year when he was selected to be Treasury secretary. Brady then accused him of “shirking responsibility for the design of this bailout.” Geithner said the government’s steps were “absolutely necessary to break the back of this financial panic.” He said without the Obama administration’s steps, “you would have an economy still falling, not growing.” Brady had more to say: “The public has lost all confidence in your ability to do the job.” Geithner responded. “If you look at any measure of confidence in the financial system, it is substantially higher today than when the President of the United States took office.” Brady, his voice rising, continued: “This is your budget! This is your bailout!” “TIME HAS EXPIRED!” shouted Rep. Carolyn Maloney, the New York Democrat who chairs the committee. That ended the exchange.