Geithner Warns That Markets Could Dive If Bernanke Is Not Reconfirmed | WHAT REALLY HAPPENED

Geithner Warns That Markets Could Dive If Bernanke Is Not Reconfirmed

Treasury Secretary Tim Geithner, in a recent interview with Mike Allen of Politico warned that the financial markets could react negatively if Fed Chairman Ben Bernanke isn't confirmed for a second term. (READ Politico's full story here.)

Geithner suggested that the market would see a failed Bernanke confirmation as "very troubling," but claimed that he was "very confident" Bernanke would receive enough Senate votes to win a second term.

Webmaster's Commentary: 

Memo to Tim Geithner: the stock market has lost any real reflection of the economy as a whole. And by making this threat, you have reconfirmed to We the People that we are not living in a democracy, but in a plutocratic "thugocracy".

And Tim, if you don't believe me, talk to any one of the SAM'S CLUB employees who just got laid off this last weekend. (Of course, you won't; in your ivory-towered life, you probably don't even speak to people who toil lots of hours for low wages).

The only people profiting right now are the large banking institutions like GOLDMAN SACHS.

Bernanke's confirmation will mean absolutely nothing to those taxpaying citizens, those people who are, according to your characterization, "....incredibly angry and frustrated by the damage this crisis caused.."

And as to the following statement:

'In the second portion of the interview, Geithner said that the financial rescue program which "was designed to bring capital back into the financial system so banks could lend again" was "remarkably successful." '

"Remarkably successful", my astrolabe!

Tim, you really need to get out more.

When was the last time you talked to a developer, whose line of credit just got yanked for no damned good reason, or can't get funding at an interest rate which makes it possible for them to get a decent return on investment?!?

The Fed itself should be abolished, as it has brought no real value to We the Taxpayers. The government of the US can - and should - be creating its own currency.