GEITHNER RESIGNING

7 comments

Posted on 3rd January 2013 by Administrator in Economy |Politics |Social Issues

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The heartbreaking announcement and a pictorial tribute to Turbo Tax Timmy.

Geithner said to leave Treasury at end of January

WASHINGTON (MarketWatch) — Treasury Secretary Timothy Geithner plans to leave his post at the end of January, according to a report by Bloomberg News. The report, quoting two people familiar with the matter, said that Geithner will not stay even if Congress has not passed an increase in the debt ceiling. Analysts said that White House chief of staff Jack Lew is the best guess to replace Geithner. Republicans have vowed to use the debt ceiling vote as leverage to win cuts in federal spending and changes in federal entitlement programs. President Barack Obama said he will not negotiate the debt limit with Congress. Treasury has taken some extraordinary measures to avoid hitting the debt limit. But these measures are only expected to last about two months.

 
 
 
 
 
 
 
 
 
 
 
 
7 Comments

  1. Administrator says:

    Geithner Out Before End Of January

    Submitted by Tyler Durden on 01/03/2013 12:43 -0500

    We are sad to bring you the tragic news that Tim “TuboTax” Geithner, who has long made clear his plans to leave some time in early 2012, will be out before March, and in fact before the end of January as it turns out. From Bloomberg:

    •GEITHNER SAID TO PLAN DEPARTURE BEFORE DEBT CEILING RECKONING

    We are also confident readers will somehow be able to overcome the unprecedented sadness at this particular rat’s departure from the Titanic, metaphorically speaking of course.

    And while Timmy’s replacement (assuming it is of the Homo Sapiens genus and species) is still unknown, we know what some of the prospects think about serving the public:

    American Express Kenneth Chenault had been approached for job, has indicated he isn’t interested

    Administration officials had approached American Express Co. Chief Executive Officer Kenneth Chenault about joining Obama’s second-term cabinet, possibly as Treasury secretary. Chenault isn’t interested in leaving his private sector job, according to a spokesman.

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    3rd January 2013 at 1:26 pm

  2. Muck About says:

    He just wants two things; One, to get out before things collapse around his ankles, and Two, have sufficient time to convert all his very ill gotten gains to commodity money stored in 16 different countries here and there so regardless of when or where he run out of town, he’ll have seed money waiting for him at the other end!

    He may also rotate into Wall Street again for a bit just to suck up the bits and pieces that are left laying around by less astute crooks than he is.

    Bernanke will follow him out the door PDQ..

    MA

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    3rd January 2013 at 1:59 pm

  3. Eddie says:

    I wonder if Obummer will give Blythe Masters the nudge.

    Maybe tap her for the Treasury and the Fed could tap Paul Krugman for Chairman to replace Bernanke.

    Don’t laugh, it could happen.

    Like or Dislike: Thumb up 3 Thumb down 0

    3rd January 2013 at 2:48 pm

  4. AWD says:

    Timmy’s getting out of dodge before the debt ceiling fiasco. He knows what’s coming. Boner is planning an all-out assault on spending, Obama and democrats after he got his ass reamed in the bullshit fiscal cliff agreement.

    We of sane mind and sound finances can only hope the U.S. defaults and the government shuts down (and doesn’t re-open); the price has to be paid for flagrant spending and giving entitlements to half the population.

    The clowns in Washington have no intention of ever paying back the debt. They’ll keep spending until they can’t borrow or tax another red cent. Timmy leaving so quickly, although a good thing, is an ominous sign of what is to come in the next two months.

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    3rd January 2013 at 3:19 pm

  5. Maddie's Mom says:

    snoopy.gif.html?filters[term=snoopy%20happy%20dance&filters[primary]=images&filters[secondary]=videos&sort=1&o=10[/img]

    Like or Dislike: Thumb up 0 Thumb down 0

    3rd January 2013 at 6:38 pm

  6. Maddie's Mom says:

    snoopy_dancing_by_jessie4508.jpg

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 0

    3rd January 2013 at 6:40 pm

  7. Hollow man says:

    In breaking news it has been reported that in order to save the world bernack and tax cheat will switch positions. Related the chairman of golden sachs will be the new chief of staff for o nut case.

    Like or Dislike: Thumb up 3 Thumb down 0

    3rd January 2013 at 10:50 pm

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