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Kudlow Warns Obama Treasury Secretary Geithner's 'Days May Be Numbered'
newsbusters.org ^ | March 17, 2009 | Jeff Poor

Posted on 03/17/2009 6:20:03 PM PDT by Saint X

Is President Barack Obama's administration showing hints it is losing confidence in Treasury Secretary Timothy Geithner? CNBC's Larry Kudlow said the signs are suggesting as much.

The host of "The Kudlow Report" said in an appearance with CNBC On-Air Editor Charlie Gasparino on his March 17 broadcast that a statement put out earlier today by the administration, and placed at the top of the Drudge Report, hinted this was the beginning of the end for Geithner.

"You know, statements out of the blue - statements like this are what I call a real bad leading indicator that Geithner's time, days may be numbered," Kudlow said. "It may not happen in the next week, but it may happen."

--more (with video)--

(Excerpt) Read more at newsbusters.org ...


TOPICS: Business/Economy; Government; Miscellaneous; News/Current Events; Politics/Elections
KEYWORDS: bho44; bhotreasury; cnbc; jaketapper; kudlow; larrykudlow; timothygeithner
Larry Kudlow, even though he works for CNBC, is pretty good at calling these things.
1 posted on 03/17/2009 6:20:05 PM PDT by Saint X
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To: Saint X

Maybe that’s why the market went up today.


2 posted on 03/17/2009 6:21:34 PM PDT by SoCalRight
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To: SoCalRight

Please, please, let him stay ...


3 posted on 03/17/2009 6:22:01 PM PDT by Tarpon (It's a common fact, one can't be liberal and rational at the same time.)
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To: Tarpon

No, he needs to go, and he needs to take the rest of the 0bama administration with him.


4 posted on 03/17/2009 6:25:07 PM PDT by counterpunch (Kenya has two presidents. America has Zero.)
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To: Saint X

Kudlow RULES. He’s right Turbo Tax Timmy is in way over his head.


5 posted on 03/17/2009 6:25:22 PM PDT by Lady GOP
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To: Tarpon
Please, please, let him stay ...

Why is April 15th coming too soon for Timmy G., the tax-dodger?

6 posted on 03/17/2009 6:26:16 PM PDT by pointsal
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To: Saint X
I have a feeling that Emmanuel will also be losing his job before too much time passes.

But a new chief of staff still will not help Oshama.

7 posted on 03/17/2009 6:26:30 PM PDT by what's up
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To: Saint X

Think more than a few Dims are wondering about “High Crimes and Misdemeanors?”


8 posted on 03/17/2009 6:26:59 PM PDT by stboz
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To: Saint X

So how would Obama replace him? It’s not like there’s a big supply of good candidates.


9 posted on 03/17/2009 6:26:59 PM PDT by proxy_user
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To: Saint X
Related thread:

White House confident in Treasury's oversight

10 posted on 03/17/2009 6:27:07 PM PDT by Ernest_at_the_Beach (What happened to my IRAs)
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To: pointsal

No he is such a perfect image of the ACTING president’s administration and his teleprompter.

Bedsides, he is the only man in the world that knows how to fix this mess, RIGHT? That’s what we were told.


11 posted on 03/17/2009 6:28:16 PM PDT by Tarpon (It's a common fact, one can't be liberal and rational at the same time.)
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To: Saint X

Anyone note what the ex SEC official had to say....?

About all of the Billions flowing overseas from the Bailout?


12 posted on 03/17/2009 6:30:17 PM PDT by Ernest_at_the_Beach (What happened to my IRAs)
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To: what's up

I hope they dump that stupid Gibbs also. What a sarcastic little twit he is.


13 posted on 03/17/2009 6:31:24 PM PDT by kezzek
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To: Saint X

Inquiring minds want to know ... if Turbo Tax Cheat Timmie is sh!t-canned, will widdle Timmie have to pay his back taxes plus penalties and interest, like the rest of us peasants?


14 posted on 03/17/2009 6:34:40 PM PDT by webschooner
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To: Saint X

The SNL parody was the kiss of death for Timmah! Geitner. [Pardon my South Parkism]


15 posted on 03/17/2009 6:34:42 PM PDT by rbg81 (DRAIN THE SWAMP!!)
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To: Saint X

That’s great...until Obama replaces him with Paul Krugman. ;)


16 posted on 03/17/2009 6:35:13 PM PDT by Mr. Jeeves ("If you cannot pick it up and run with it, you don't really own it." -- Robert Heinlein)
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To: kezzek

Speaker Pelosi, Dont let the door hit you on the way out.


17 posted on 03/17/2009 6:35:24 PM PDT by Lady GOP
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To: Saint X
I wish Kudlow would have said that the Obama Administration's days are numbered.Unfortunately we still have 3 years and 9 months or so to go. I gag every time I think about that and every time I see or hear his voice.

Obama is an enemy of the constitution and the United States.

18 posted on 03/17/2009 6:41:37 PM PDT by puppypusher (The world is going to the dogs.)
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To: proxy_user

LOL

Mitt?

Two birds, one stome


19 posted on 03/17/2009 6:42:35 PM PDT by ASOC (On strike until Congress lowers THEIR wages)
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To: Saint X

Bernie Madoff can be pardoned and at work within a week.


20 posted on 03/17/2009 6:43:01 PM PDT by Rome2000 (Peace is not an option)
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To: Saint X

Let’s not forget: http://www.salon.com/tech/htww/2009/03/09/its_all_geithners_fault/index.html

It’s all Geithner’s fault!

No Treasury secretary in living memory has entered office with bigger economic problems, or faced as harsh a reaction, in his first month as has Tim Geithner. But can he really be fingered as the guy who started the global financial train wreck?

That, essentially, is what the former prime minister of Australia, Paul Keating, said in a speech last Thursday, as reported by the Sydney Morning Herald. (Thanks to Yves Smith at Naked Capitalism and several readers for the tip.)

Let’s take a trip in the way-back machine, to 1997, when the Asian financial crisis was ravaging the world. In the initial media reaction to Geithner’s appointment as Treasury secretary, he received high marks for his efforts handling the crisis while an underling in the Clinton Treasury Department. Keating demurs.


21 posted on 03/17/2009 6:48:25 PM PDT by WellyP (obama must go!)
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To: proxy_user

He will be replaced with Larry Summers


22 posted on 03/17/2009 6:48:58 PM PDT by balls (I have seen the enemy and it is Hussein 0)
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To: proxy_user
"So how would Obama replace him? It’s not like there’s a big supply of good candidates."

There are many business leaders who would jump at this chance. Bush 43 replaced Paul O'Neill when he had to, but I don't think team Obama is willing to face the chaos and embarrassment so soon.

Besides, if you read the Drudge story carefully, you'll see that these bonuses are actually Dodd's kitty. He was the one that stripped out the bonus provision and put in the exemption that allowed the $165 million.

Not only that, this whole bonus thing is a red herring designed to distract people from asking where the $173 billion went. That's the real scandal, and if anyone thinks the government will ever recover a penny of it then they're fools. A lot of it, $93 billion to be precise, is already sitting in foreign banks.

23 posted on 03/17/2009 6:49:20 PM PDT by Batrachian
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To: Tarpon
Oh....guess you are right on that point....

C'mon Timmy...pull your own weight...

24 posted on 03/17/2009 6:52:26 PM PDT by pointsal
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To: kezzek
I hope they dump that stupid Gibbs also. What a sarcastic little twit he is.

Frankly, I was hoping for someone from Maxine Waters' press corps to step into the breach.

25 posted on 03/17/2009 6:55:49 PM PDT by pointsal
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To: Tarpon
Please, please, let him stay ...

Agreed... They're all so smart, let them live with each other. Their narrow-minded government knows best Keynesianism isn't going to fix anything, but they will never abandon it, so let them stew.

I'm not clear that Geithner has ever really done anything. He seems to have been an intern/manager/figurehead his whole career... never really responsible for producing anything, unlike the *real* economists at the Fed who actually have to produce reports. And he's certainly never been responsible for producing an end product.

26 posted on 03/17/2009 6:56:18 PM PDT by Felis_irritable (Dirty_Felis_Irritable...)
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To: Saint X
"Geithner's 'Days May Be Numbered'"

I think this is more a reflection of Obama's style of simply throwing people under the bus to deflect criticism from himself. This way he gets to keep voting "Present" and let everyone else take the blame when things aren't good.

When things go well (if that ever happens), I'm sure Obie will step up to the teleprompter, and take credit.

27 posted on 03/17/2009 6:57:23 PM PDT by ChicagahAl (Don't blame me. I voted for Sarah.)
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To: Lady GOP
Speaker Pelosi, Dont let the door hit you on the way out.

Being as she's got the most secure seat in the House, that ain't gonna happen.

28 posted on 03/17/2009 7:01:31 PM PDT by ErnBatavia (Here's hoping the Kennedy family trust is in deep....with Madoff)
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To: Lady GOP
He is getting Help....FR Thread:

Citi Losing Economist to Treasury ( Counselor for Geithner?)

29 posted on 03/17/2009 7:02:49 PM PDT by Ernest_at_the_Beach (What happened to my IRAs)
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To: Batrachian
** this whole bonus thing is a red herring **

Yup! Saw it 'splained earlier today as follows: assume the AIG bailout is $100.00 (one hundred dollars). The bonus payments would be ten cents!

30 posted on 03/17/2009 7:13:33 PM PDT by Don Carlos (You can touch a nun once or twice, but don't get in the habit.)
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To: ErnBatavia

This Administration is absolutely clueless. It is nothing shy of Clinton III. Obama is simply throwing a Cocktail Party and Revival on the premier deck of the Titanic. Aye AIG, Captain...


31 posted on 03/17/2009 7:18:13 PM PDT by theyreallthesame
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To: Saint X

Gee, who would have guessed that a guy who can’t figure out TurboTax couldn’t handle running the U.S. economy? /sar


32 posted on 03/17/2009 7:21:07 PM PDT by Carling ("We've lost two people in my family because you dickheads won't cut trees down," - Warwick Spooner)
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To: Mr. Jeeves
As long as Krugman doesn't have a say on foreign policy, I would take him over Geithner right now. At least Krugman has some degree of support for the free market.
33 posted on 03/17/2009 7:22:53 PM PDT by Carling ("We've lost two people in my family because you dickheads won't cut trees down," - Warwick Spooner)
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To: Rome2000
Obama’s entire “bail-out” scheme is similar to a Madoff scheme, except the people (involuntarily) investing in it already know they are screwed, and the people putting nothing in are getting richer.

Obama could already be seen as a bigger crook than Bernie Madoff. No wonder Holder cut a deal with Madoff. We wouldn't want to put Bernie under oath, right?

34 posted on 03/17/2009 7:26:13 PM PDT by Carling ("We've lost two people in my family because you dickheads won't cut trees down," - Warwick Spooner)
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To: Saint X
I think this makes him eligible for a few million in bonuses.
35 posted on 03/17/2009 8:00:50 PM PDT by c21sac (Live,Love & eat sushi)
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To: Saint X

Obama to Geithner- “Here come da bus, here come da bus.”


36 posted on 03/17/2009 8:12:25 PM PDT by CitizenM ("An excuse is worse than an lie, because an excuse is a lie hidden." Pope John Paul, II)
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To: Saint X

Well, 2nd rate people surround themselves with 3rd rate people


37 posted on 03/17/2009 8:22:21 PM PDT by fso301
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To: Saint X

Oh, but Geitner is the only human on the planet intelligent enough for the position. He’s such a brain that even when he broke the law and didn’t pay his own taxes correctly we need for forget about it and let him play deity with the economy. That’s what great leader said.


38 posted on 03/17/2009 8:23:05 PM PDT by AD from SpringBay (We deserve the government we allow.)
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To: Saint X

Hard to get people to pay taxes when a tax cheat is running things. Looks a tad hypocritical even for liberals.


39 posted on 03/17/2009 8:28:50 PM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: Batrachian
He was the one that stripped out the bonus provision and put in the exemption that allowed the $165 million.

The scary part is that Dodd denies removing the provisions. Who did?

40 posted on 03/17/2009 10:40:37 PM PDT by Mike Darancette (We have nothing to fear but Obama himself.)
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To: Saint X
Um, less than a month later, read his column at NRO following Wells Fargo's earnings report. The latest Kudlow is correct, this older one was flat out wrong. It will be as I called it last fall - the Fed's actions, ordinary built in fiscal stabilizers, widening spreads, and the banks' own prudence, will heal all of it faster than the common doom mongers can imagine. They don't see the forces, they only see other people talking about things in the rear view mirror that they didn't like. Recovery is coming. Watch.
41 posted on 04/09/2009 5:30:14 PM PDT by JasonC
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To: AD from SpringBay
Watch and learn, grasshopper.
42 posted on 04/09/2009 5:30:41 PM PDT by JasonC
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