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Geithner Says ‘Capitalism Will Be Different’

From Zsa Zsa’s odious Huffington Post:

Charlie Rose Interviews Timothy Geithner: "Capitalism Will Be Different"

Sam Stein

March 10, 2009

Treasury Secretary Timothy Geithner offered a vigorous defense of the administration’s fiscal policies and his own personal performance, in a lengthy interview with Charlie Rose on Tuesday night…

"It was always our intention to lay out that broad framework of strategy at the beginning so people could see the full scope of the strategy and then lay out the details," Geithner said, when asked about the negative market reaction to his testimony on the administration’s banking policy. "Now, you’re right. Expectations got ahead of the policy, and part of those expectations which caused disappointment were the hope that we were going to provide a very generous benefit to the banking system on terms that I didn’t think was going to be effective — defensible for the American tax taxpayer." …

Towards the end [of the interview], the Treasury Secretary said that American capitalism "will be different" and the financial system too. But he expressed confidence that a plan that involved putting banks through stress test, shoring up the housing market, and removing the toxic assets away from the books through a combination of public and private capital would, in the end, get the economy running…

That is if there is any form of US capitalism left, after Mr. Obama is finished.

This article was posted by Steve on Wednesday, March 11th, 2009. Comments are currently closed.

10 Responses to “Geithner Says ‘Capitalism Will Be Different’”

  1. BannedbytheTaliban says:

    We were told during the campaign that Obama would fundamentally change the way the economy works. Now were are going to see what he ment.

  2. curvyred says:

    He kept making strange facial expressions. I liked when Charlie asked him about his time at Citbank and why he wasn’t aware of what was happening.

  3. Barbie says:

    Towards the end, the Treasury Secretary said that American capitalism “will be different” – in a socialist, communist kinda way…

  4. sheehanjihad says:

    “Capitalism Will Be Different” uh, yeah! It is to be replaced by a two class socialist society where the working class…”us”…..cares for all of the needs of the ruling class…”them”…..

    Good luck with that Timmy boy…you may not have paid your taxes, but you are going to pay your dues my unqualified political lacky, pay you will, trust that.

  5. proreason says:

    “The (financial) system wasn’t designed” to endure the sorts of stresses that have been put upon it.

    Yeh. Like your body isn’t designed to endure a gunshot to the head.

    When Mr Gerstner was spending “every day” from the moment he walked in the door of the NY Fed 5 years ago, did he ever have a conversation or give a passing thought to Drooling Barney and the greatest con game of all time happening RIGHT UNDER HIS NOSE.

    What a colossal colossal idiot.

    This is the guy who is going to “design” the new financial system and reshape Capitalism.

    I feel like we are defending Stalingrad in 1942 and 1943.

  6. sheehanjihad says:

    I feel like we are defending Stalingrad in 1942 and 1943. Yeah, but at least the Russians could shoot back. Tim is going to be one of the sparks in the powder keg. Once this carbon nonsense starts costing people their homes and jobs in a big way, then the last thing this so called government is going to worry about is phantom carbon crappola and concentrate on survival.

    Conservatives as a whole are the most tolerant group of people on the planet….until they get to that point where they see something needs to be done. Then, they dont stop until it is totally finished. This is one time where not teaching history is going to backfire on our educators….their brainwashed students have no concept of the resolve of a pissed off American. They soon will though…..I hope I get to see it.

  7. Reality Bytes says:

    Quite Right. Like Dr. Richard Raskind after he had the operation was never the same. Course you know him as former women’s tennis ace, Dr. “Renee Richards”.

    Then again, no matter how you slice it, (ouch!) Doc’s DNA is still male. He just lost his balls – something the Republicans, Congress, Obama and the rest of Washington shares in common with him since the grown ups like “DICK” Cheney left town.

    RB Out!

  8. Rusty Shackleford says:

    I knew it was only a matter of time before the democretins would go from redefining/revising history to redefining actual words.

    up=down (ie: “the market is up”)


    Capitalism=”give us all your money so we can give it to the people we SAY can have it”

    Socialism (See “Bush)

    I wonder if Geithner and all his imaginary friends eat at the same place.

  9. joeblough says:

    Yeah, capitalism will be different.

    It’ll be, if not dead, crippled, hobbled and enslaved.

    And replaced by socialism.

    The arrogance of these middle-brow SOB’s is breathtaking.

    What the hell does that comment mean except to assert that Geithner’s sage understanding is superior to Adams, Say, Hayek and the rest, not to mention dozens of multi-millionaire and billionaire founders of industries.

    Narcissism and self-aggrandizement gone wild.

    They are clueless and will never admit it.

  10. TwilightZoned says:

    “Capitalism will be different” is code for something other than capitalism.

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