We've seen this scenario before.
From www.politico.com
Some Republicans are calling for Timothy Geithner’s head. President Barack Obama said Wednesday they can’t have it. Now what?
The White House was forced to issue its third public defense of Geithner in as many days, while Obama sought to insulate his team from blame. "I know Washington’s all in a tizzy. Everybody’s pointing fingers at each other and saying, it’s their fault, the Democrats’ fault, the Republicans’ fault," Obama told a crowd in California. "Listen. I’ll take responsibility. I’m the president."
President Obama is in real danger of get caught up in one the The Republicans oldest tricks in the book...misdirection. The chorus of hypocrites on the right calling for Geithner's head gets louder every day. And one of the reasons, aside from making Obama seem incapable of choosing the right person for the right job, is that it shifts the blame for all that is and has been wrong in the banking, financial, and insurance industries over the last few years can be laid directly at the feet of a republican president and a complicit and compliant Republican Congress.
The Republican party has always been in the thrall of big corporations and the largess that they dispense upon the party. And every time they have had the power and opportunity to loosen the restrictions and regulations that keep these merchants of greed under control, they have made good use of it. If we were to seek the most deviously creative minds in the business world, we would need look no further than those who the big three industries have working for them. The plots and plans that these individuals devise are so complex and convoluted that it would take teams of forensic accountants employed for years deciphering and untangling them. The Las Vegas casinos can't hold a candle to these guys in the way they have stacked the odds in favor of the house
The economic crimes and misdemeanors for which the Republican party has either been directly responsible for or was the chief enabler of are the reasons that we find ourselves in this financial crisis of near total collapse dimensions. But we know from history that even the most complex conspiracies are eventually unraveled and exposed.
The Republicans have gone down to defeat in the last two election cycles. Their approval ratings are in the toilet. They are leaderless and rudderless. Their slate of candidates for 2012 is a joke. The hole they have dug for themselves keeps getting deeper every day. But they keep going back to the same old political playbook devised by Nixon and refined and updated by Rove. Even if it's out of date. The attacks on Geithner is just more of the same ol', same ol'. Distraction is their only recourse
Obama is a smart guy. He should see this for what it is and move on. If the traditional media wants to get suckered again, let them.