Wednesday, February 11, 2009
Treasury Secretary Geithner Is Unfit To Serve
Treasury Secretary Geithner is unfit to serve. I found his remarks yesterday to have no substance whatsoever with regards to the Democratic induced economic crisis that we have. He seemed completely lost while his boss is campaigning again about his failed stimulus bill. I am currently teaching a course in Money and Banking this semester (at probably the greatest time ever to be taking it for students). As my class has picked apart on numerous occasions the problems with all of the TARPs, I continue to state that the biggest problem that the economy has today is pricing the toxic mortgage debt that is in the market today. Geithner really needs the ability to come clean as to a valuation on the debt itself, whether it is 10% or 25% or whatever percentage value is derived for it. Why does the new Treasury Secretary have so much problem in doing this valuation? Price it and lets move forward. Toxic debt removed from the market would recreate our credit markets and get the economy moving again rather than the pork/earmark filled bogus stimulus package which will ultimately rape our economy in the long run. Our economy is no way, shape or form is near a depression. We still have the greatest free market economy and country in the world. We need our new administration to stop bashing our economy and act to allow the free markets to work again. This new Treasury Secretary is again an example of failed liberal policies of this administration which is already leading us to the path of ruin.