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Geithner Says New Financial Crisis Coming
TBI/The Daily Beast ^ | 5-19-2011 | Lloyd Grove

Posted on 05/19/2011 11:47:12 AM PDT by blam

Geithner Says New Financial Crisis Coming

Lloyd Grove, The Daily Beast
May 19, 2011, 2:12 PM

At a New York screening of the new HBO adaptation of Andrew Ross Sorkin’s Too Big to Fail, Treasury Secretary Timothy Geithner said that not only is our financial system not too large to go bust—but we’re headed for another crisis.

The Wall Street meltdown of late 2008 was, in real life, a harrowing event, triggering a terrible recession from which we’re still recovering. In the HBO movie Too Big to Fail, it’s also a surprisingly gripping melodrama—a clash of greedheads and egomaniacs desperate to escape the consequences of their own bad behavior.

At various moments of high tension, Treasury Secretary Hank Paulson (played by a bedraggled, unshaven William Hurt) flees an important meeting to stress-vomit in his private bathroom, and New York Federal Reserve President Timothy Geithner (a perfectly turned-out Billy Crudup) continually curses into his cell phone.

It's an alarming entertainment (premiering May 23 at 9 p.m.), and an even more disturbing memory. So having the real Geithner predict the coming of another big crisis was the last thing the well-heeled screening crowd at the Time Warner Center wanted to hear Tuesday night.

“It will come again. There will be another storm,” warned Geithner, who in early 2009 succeeded Paulson as treasury secretary. “But it’s not going to come for a while.”

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: crisis; debt; default; economy; finance; geitner; inflation; marxistcoup; obamanomics; repudiation; taxcheat; taxcheattimmy; timmythetaxcheat

1 posted on 05/19/2011 11:47:17 AM PDT by blam
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To: blam
Geithner Says New Financial Crisis Coming ...because YOU caused it!

...there, fixed.

2 posted on 05/19/2011 11:50:54 AM PDT by NordP (Common Sense ConservaTEAves - Love of Country, Less Govt, Stop Spending, No Govt Run Health Care!!!)
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To: blam

The way it’s going with Obama’s speech today on the middle east he, Geithner, and Bernanke are going to have America so crippled and broken down financially, we won’t be able to come to Israel’s aid even though we want to when the next fight begins. Curse them all.


3 posted on 05/19/2011 11:52:12 AM PDT by OB1kNOb (The stench of dependency is a sickening smell. Strive to become an asset, not a liability.)
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To: blam
In the HBO movie Too Big to Fail, it’s also a surprisingly gripping melodrama—a clash of greedheads and egomaniacs desperate to escape the consequences of their own bad behavior

IOW the government gets off scott free of any blame and will probably be portrayed as the good guy coming to the peoples rescue.

4 posted on 05/19/2011 11:57:04 AM PDT by lowbridge (Rep. Dingell: "Its taken a long time.....to control the people.")
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To: blam

He should know-it belongs to him and Obama.


5 posted on 05/19/2011 11:57:16 AM PDT by Spok
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To: Spok; blam

Now, now you both know its BUSH’s fualt!


6 posted on 05/19/2011 12:02:51 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: blam
... right on schedule. Just as planned.

7 posted on 05/19/2011 12:05:30 PM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: blam

We’ve been in a constant state of crisis since September 2008, if not before. It finally caught up with us at that point, but it was obvious to objective observers who understand basic math what was happening. Every action they have taken to FIX the crisis merely masked crisis’ existence. In fact, what has been done since 2008 has made it much much worse.


8 posted on 05/19/2011 12:07:29 PM PDT by .45 Long Colt
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To: blam

Here’s the problem with a 1/3 victory last November. No matter how STUPID it is... Timmy and ZER0 have someone else to blame when things really start to go bad. And, they will... go bad and blame House republicans. Only question is how many millions of people buy into ... The sky is falling became of the debit so we need to spend more!


9 posted on 05/19/2011 12:08:28 PM PDT by NamVet71MP
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To: blam

When does this guy and his whack-job boss take responsibility for their administration? These jerks are getting the longest honeymoon period in history from their useful stooges.


10 posted on 05/19/2011 12:08:29 PM PDT by New Jersey Realist (Congress doesn't care a damn about "we the people")
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To: blam

Geitner IS the financial crisis. He needs to go!


11 posted on 05/19/2011 12:09:27 PM PDT by cblue55 (Envisioning when all that is left is the right.)
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To: blam; All

Until stockholders succeed in bringing down the highly inflated compensation that major CEO’s and their other executives receive they will always have the incentive to send work overseas to much cheaper labor. At Google see Forbes CEO Compensation to get an idea of just how overpaid these guys are.


12 posted on 05/19/2011 12:16:18 PM PDT by gleeaikin
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To: NamVet71MP

Right or wrong, the President always owns the economy. He gets praised or blamed right or wrong.

This is Obama’s economy. He will be a one term wonder as a result and it doesn’t even matter who the GOP run. After 4 years of economic depression, the voters are going to want change again.


13 posted on 05/19/2011 12:20:01 PM PDT by Freedom_Is_Not_Free (Don't confuse Obama's evil for incompetence.)
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To: cblue55
people forget that Geitner was the head of the NYS fed before he was picked for the Fed chair....he is part of the problems...along with the rat congress and the do nothing rat senate at the time.....

but Bush played the patsy role very well....

14 posted on 05/19/2011 12:25:29 PM PDT by cherry
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To: blam

Goolsbee isn’t the only one saying more than 2 million private sector jobs added in the last 14 months;

May. 6, 2011
http://www.indystar.com/article/20110506/NEWS/110506010/Obama-want-energy-breakthroughs-Indiana?odyssey=tab|topnews|text|IndyStar.com
“That means over the last 14 months,” Obama said, “we’ve added more than 2 million jobs in the private sector.”

http://www.monstersandcritics.com/news/business/news/article_1637565.php/Hiring-picks-up-but-US-jobless-rate-up-to-9-per-cent
White House Press Secretary Jay Carney pointed out to reporters that April was the 14th consecutive month of growth in private sector employment, for a total of 2.1 million jobs


15 posted on 05/19/2011 12:25:37 PM PDT by Son House (Finally, People Lie, Because They Feel If They Tell The Truth, They Won't Get What They Want.)
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To: blam

Will it be a greater crisis than the Geithner appointment?


16 posted on 05/19/2011 12:30:50 PM PDT by stevem
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To: blam

“Hedge Farm! The Doomsday Food Price Scenario Turning Hedgies into Survivalists”

http://www.observer.com/hedge-funds-running-farms-05172011


17 posted on 05/19/2011 12:44:11 PM PDT by twistedwrench
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To: Freedom_Is_Not_Free
Agreed.... except for the it doesn’t even matter who the GOP run bit. I can't pull the lever for another McCain.
18 posted on 05/19/2011 12:47:03 PM PDT by NamVet71MP
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To: NordP

Yeh we are all shocked Timmy. What did you think was going to happen? We are all getting prepared. I hope you are in the first die off you little Commie punk.


19 posted on 05/19/2011 12:54:50 PM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: blam

Do you want to learn some shocking things about Geithner? Read the following.

http://en.wikipedia.org/wiki/Timothy_Geithner#Family_and_education


20 posted on 05/19/2011 6:56:51 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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To: familyop

Thanks. I read this the other day...amazing. Small world, eh?


21 posted on 05/19/2011 8:04:40 PM PDT by blam
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To: blam
"Thanks. I read this the other day...amazing. Small world, eh?"

Yes, and even smaller for people like Geithner.


22 posted on 05/21/2011 2:31:10 PM PDT by familyop (Shut up, and eat your brains!)
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