If you are a hard-line Democrat and watched the Timothy Geithner presentation Tuesday, February 10, 2009, you probably have a hairline crack in the chalice where all your liberal values are held. That crack will grow.
Mr. Geithner put to the lie myths that (1) any man is indispensable (2) he is the only man who could do the job and (3) that he should be the Secretary of the United States Treasury. Mr. Geithner is a train wreck in slow motion.
Capable men in positions of power have ideas, facts, figures, plans and concepts for the future, things they can talk about and explain with a clarity of vision most of us do not have. Nor does Mr. Geithner.
Mr. Geithner should have explained how $150 billion in bad mortgages strangled an economy with $1.6 trillion in circulation. Could the problem not have been solved quickly by guaranteeing the mortgages? Historically half of those non-performing mortgages would right themselves as their holders took second jobs, trimmed expenses or put mom to work.
And, where are Henry Paulson and the secret $350 billion? Did he go to China on his 41st trip in 20 years? Why no questions on this matter?
The numbers we have been told do not add up to $9.3 trillion dollars. What kind of shell game is this? Goebbels Law, “Tell a big one?”
Mr. Geithner”s presentation did nothing to ameliorate the situation and in response Wall Street shed another 5% of all equity value. At this rate we have one month before our publicly traded companies are worth zero. Goodbye, Mr. Geithner and don”t let the swinging doors at the White House bang your butt.
Adrian Vance
Lakeport
