Geithner Pushes Taxpayer Funded Bailouts and Wealth Redistribution
Obama and crew had a plan to hit the Sunday morning talk shows and continue to pitch their agenda. Tim Geithner was on NBC’s Meet the Press and ABC’s This Week. There is no ‘hope’ that anything will ‘change’ about the approach of the White House or the Obama administration’s agenda.
One clip had a wall streeter saying when Geithner talked about his plan the first time they hated it. Now they love it. Why wouldn’t they? Private investment in toxic assets has the upside guranteed and the downside protected by the American taxpayer at an advertised rate of 7% for the private sector versus 93% for the taxpayer.
Geithner on This Week once again spoke of his desire for redistributing wealth as shown on this site bofore with his call for more broadly shared gains in future economic growth. While the Obama administration and Mr Geithner have done nothing more than stay on message and gain approval from the Wall Street they demonize by handing them a bailout for the bailout with the taxpayer assuming all the risk the plan to increase the role of government and redistribute wealth continues.
Mr Geithner also pointed out that expanding government’s role in education as well as dominating energy, healthcare and spending like mad on infrastructure for ‘make work’ jobs is still the primary goal of their ’stimulus’. There is nothing stimulating about it.
The anti-climatic appearance of Senator John McCain on Meet the Press after Geithner only served to provide comic relief as his words are still the same also. ‘Reach across the aisle’ and ‘compromise’ while keeping the borders as loose as ever. Okay Senator, you got two things right. The surge worked in Iraq and you supported it early compared to many others. You said the fundamentals of the economy were strong during the campaign and got hammered for it. Obama and crew are essentially using the same rhetoric and not being criticized much for it. Wonderful. And you were right to point out that Obama has gone back on his word about campaign promises like eliminating earmarks. To repeat, nothing has changed.
Obama and crew are buying favor with the same people they claim got us into this mess. And they are using your money to do it. If you see that as the hope and change promoted by Barry and friends and like it, you are definitely off your meds.
One more time, nothing has changed.
The roundtable on This Week featured George Will, Cokie Roberts, Matthew Dowd and Paul Krugman. Krugman of course maintains the Geitherner (Obama) plan is seriously flawed. And he has the credentials to render his opinion worth noting and something more than political opposition.
The rest of the panel provided a reasoned discussion the details of which you may or may not agree. If you are interested in those details it is suggested you view the program on Sundays. Transcripts appeared not to be available at the time of this posting.
Stanford Matthews
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