Geithner gets tough questions from Senate panel
By Steve Holland - Mar 12, 2009
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner found himself at ground zero of U.S. economic discontent on Thursday.
...
BIPARTISAN GRILLING
It was a bipartisan grilling -- both Obama's Democrats and rival Republicans were tough while praising his and the president's abilities and acknowledging the difficult situation they find themselves in.
Here's an example of the grilling, and Geithner's surprisingly "composed" responses:
Merkley questions Geithner on Toxic Assets and Regulation
http://www.youtube.com/...
Summary of Senator Merkley's Question period, during this week's Senate Budget Hearing:
Oregon Senator Jeff Merkley drills into some of the "buy out" pricing details, of the Govt's plan to isolate and control the damage from Bank's "Toxic Assets" (CDS) -- which are the source of much of the current global Economic Meltdown. Timothy Geithner Treasury Secretary, explains the Govt's view of the Banking Credit Crisis situation.
Merkley then gets a commitment from Geithner regarding the need for stronger consumer protection from Mortgage Brokers, and some of their predatory practices.
Source: CSpan - Senate Budget Hearing - 3/12/2009
Does "Bipartisan grilling" take into account Progressive Grilling too. Here's another stand-up Senator, representing the real interests of The American People:
Wyden questions Geithner on AIG CounterParties
http://www.youtube.com/...
Summary of Senator Wyden's Question period, during this week's Senate Budget Hearing:
Oregon Senator Ron Wyden questions Timothy Geithner Treasury Secretary, about the causes of the AIG Meltdown, and how this will be prevented in the future? Wyden then demands transparency on the AIG CounterParties (to those Toxic Assets), so that the American Taxpayers will know exactly who is being bailed out, indicating that Geithner's own credibility and future effectiveness, will hinge on such transparency.
Geithner offers an unsolicited statement of his own outrage about the irresponsible banks, and the reasons why such drastic Bailout actions were needed by the Govt -- basically to maintain the faith and confidence in American Institutions, in the Global Market, especially among our Country's Creditors.
Source: CSpan - Senate Budget Hearing - 3/12/2009
Well, I was surprised to see Geithner hold up so well in this hearing. Maybe SNL's recent Geithner skit, made him realize, that "This isn't a *Bleeping* Game" (as Jon Stewart aptly summarized this week too).
SNL's recent Geithner skit:
He was parodied last week in a satirical skit on NBC's "Saturday Night Live" in which a Geithner impersonator offered toll-free hotline callers a $420 billion cash reward if they could come up with a workable plan to fix ailing banks.
It seems now, if you listen to the whole Committee Hearing, that Timothy Geithner Treasury Secretary, gets it -- gets the gravity of the situation, facing America's Economy, and the average worker:
Entire CSpan Video:
Treasury Sec. Tim Geithner Testifies at Senate Budget Cmte.
Thursday
Treasury Sec. Timothy Geithner testified before the Senate Budget Committee on the President's FY2010 budget proposal. In his opening statement Senate Budget Cmte. Chrmn. Kent Conrad (D-ND) expressed concern about proposed health care spending and the deficit.
Personally, I was impressed by the Geithner's grasp of situation (definitely dozens of steps above, the Dem's own "Clueless CounterPartes"!)
But I was even more impressed by the "real representation" I am getting, as a citizen, from my Progressive State Senators, from Oregon. (Frankly, it's really hard for me to imagine Gordon Smith asking the same kinds of direct questions.)
It DOES Matter -- when Progressives get elected!
WHEN we can finally get Al Franken seated, The People's "representation" will get all that much stronger!
It Matters ...