Skip to comments.US ($) to Play 'Very Major Role' In Helping Europe: Geithner
Posted on 10/15/2011 10:20:22 AM PDT by quesney
The U.S. plans on being an active partner as efforts intensify to get Europe get back on its feet financially, Treasury Secretary Timothy Geithner told CNBC Friday.
Getty Images U.S. Treasury Secretary Timothy Geithner With global leaders preparing for next month's Group of 20 nations (G20) summit in Cannes, France, the International Monetary Fund of which the U.S. is the greatest contributor is being relied on to help underwrite whatever efforts are needed to backstop toxic European sovereign debt .
Geithner said the International Monetary Fund (IMF) has "very substantial" resources to fund a device that could look like the Troubled Asset Relief Program, which helped navigate American financial institutions through the crisis in 2008 and 2009.
"Through the IMF, of course, we're already playing a very major role," he said in a live interview in Paris. "We're happy to see the IMF continue to play that role in support of a more forceful, comprehensive strategy where Europe's own resourcesvery ample resourcesare deployed on a much more substantial scale."
The comments give a lift to U.S. stocks, which have been highly volatile in the past several months as proposed solutions have come and gone for the euro crisis.
(Excerpt) Read more at cnbc.com ...
Foreigners reaching for my wallet?Not a good idea.
The printing press tax on those who produce.
Is Geithner completely insane or just plain evil?
We will never be able to pay back our debt to them for saving us during WWII will we.
Can't one be insanely evil?
The man was a prophet...
They will always be there when they need us.
Not one tax payer dollar for Europe! We sent a bundle of the Tarp money and it failed. Enough is enough. Stop Gaithner and his dumb schemes.
Ask Greenspan. He said just print it.
There ain’t enough bailout. We have already been robbed to pay for the socialism in Europe.
Screw them, they made their bed and Geithner needs to be fired and put behind bars.
Very major role means the American taxpayers on the hook....again. While they continue to bullsh## the “middleclass” Giethner, an unelected zero czar is using our money for the benefit of his and zero’s criminal friends here and overseas. I will say it again, we need to press for hearings and prosecution of these criminals when we regain the WH
” The printing press tax on those who produce. “
The printing press tax on those who produce, our children, grandchildren and great-grandchildren unto the 27th generation....
I wonder when those morons down in the Financial District will ever get around to occupying the Treasury building?
about the only good news on this is that Geithner along with the gov’ts of the uk, canada and australia have rejected a BRIC proposal to put even more money into the IMF to bail out europe. So europe gets to piss away the existing IMF allocation, but doesn’t get any additional
i guess that’s as close to good news as we get these days..
Yeah, this is going to go over good with WE the people!
How stupid can these people get?? Never mind. Don't answer that.
Besides, why get po'd about it? Tax Money = Monopoly money
Where can I go to stop giving the govt my money to spend in idiot ways like this???
Oh yeah, the got 4000 tanks to send after me if I get out of line. We get closer to a tyranny every tick of the clock.
You wanna quit spamming the Breaking News and Frontpage sidebars with every article you post?
agreed- and while this turns my stomach it is just the sort of nail to reignite the Tea Party to a fever pitch greater than 2010 and put the final nails in obozo’s coffin...
Define "insanely evil..."
I thought Uncle Moneybags kicked the bucket...?
Can Obama get around Congress to accomplish this? The Republican house would still have to sign on to get the money appropriated, right? The answers to these questions used to be obvious but nowadays they just seem to be making it up as they go along.
Like the Aztec princes, who asked, after hastening the pace of sacrifices to the gods when the Spanish arrived, "Why isn't this working?"
Or the class of Roman officials who had embezzeled as much as they could while wrangling tax concession after tax concession from the emperor, and then asked, "Why don't we have money to pay an army to fight the barbarians?"
In brief: not a good sign regarding the health of our civilization.
We can all go bankrupt together I guess
Good thing Europe will be there to bail us out when we default.
Oh, wait... that doesn’t happen.
“”With global leaders preparing for next month’s Group of 20 nations (G20) summit in Cannes, France””
Goody! Goody! Michelle will get to go on another luxury vacation. Of course, her husband will go and she’ll HAVE to accompany him - with all her relatives and whoever in the heck the other 500-600 people are who always travel with her.
I ain’t so proud of my country anymore!!
Nothing is as it appears with Obama. This bailout is to protect large US banks who hold European debt. It’s like when they bailed out AIG in order to pay GS off.
If the roles were reversed EU-rope would ask for an ownership stake in our banks in return.
Why don’t we ever get anything for our nations benevolence? (re: Iraq,kosovo,afghan,pakistan....)
One phone call to the Federal Reserve ought to do it. Well, actually, he might not even have to phone, they've probably already sent a trillion or two secretly on their own.
“You wanna quit spamming the Breaking News and Frontpage sidebars with every article you post?”
You call this spam?